Bloomberg Daybreak: March 24, 2022 - Hour 1 (Radio)

New York will fully divest all Russian holdings. Plus tributes continue. Performer Secretary of State metal In Albright. I'm Michael barn More, I'm John Stashtward Sports New York City is dropping the vaccine mandate that prevented Carrie Irving from playing home games.

The Nets lost in Memphis, the nixt one in charlom That's all straight ahead on Bloomberg day Break on Bloomberg Elementary on 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 Old on Bloomberg Radio dot Com and via the Bloomberg Business. A good morning. I'm John Tucker, I'm Nathan Hagar. Futures are

climbing this 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 twenty seven points down, futures up a hundred sixty one. Nasdaq futures on the rise by a hundred nine points. Germany's decks of two tenths percent, the cat in Paris is highed by four tenths of one percent. To take your treasury is down sixteen thirty seconds. The yield two point three yield on the two year two

point one three percent. Nimex screwed is up four tenths percent, or forty one cents at a hundred fifteen dollars thirty five cents of barrel comics golds up two tenths per cent or three dollars eighty cents at ninety six forty, announced John Nathan. We begin with the war as it reaches the one month mark. President Biden beach with Allies and Brussels today to discuss ramping up pressure on Vladimir

Putin to withdraw forces from Ukraine. New sanctions among the options on the table we get to tail from Bloomberg's investors along with a show of solidarity. The US wants some even stiffer penalties placed on Russia, and National Security Advisor Jake Sullivan says enforcement is very important to agree on an initiative to coordinate on sanctions enforcement so that Russian efforts to evade the sanctions, or other country's effort to help Russia evade the sanctions can be dealt with

effectively and in a coordinated fashion. Sullivan says, as well, China will be a major concern. NATO G seven and the EU meetings today in San Francisco. I'm at Baxter Bloomberg daybreak. All right, ed, thank you. The U S and the European Union are close to a deal to slash Europe's dependency on Russian energy. Let's go live to London for the very latest on that with Bloomberg's U and pots. Good morning you, and good morning Nathan and John.

It's the missing parts of the jigsaw house of its use funds flowing to Moscow from oil and gas sales. Bloomberg understands the deal with the European Union when inshore supplies of American natural gas and hydrogen get to Europe, allowing the region to move away from dependence on Russia. President Biden's National Security advises Jack Sullivan says an announcement

on the agreements could come as soon as Friday. Live in London, Immune pots day break, Thanks you, and Russia's stock market is open for the first time in nearly a month. The country's benchmark index rose as much as twelve percent after Moscow stepped in with support measures. The government's allowing just two thirds of the stocks on the exchange to trade, and that's just for a short and four hour session. Russia has also banned short selling and

restricted foreigners from exiting local equities. That's on top of a pledge to prop up the stock market with up to ten billion dollars. My energy markets remain in focus, John, as the war in Ukraine sparks volatility, and a couple of Wall Street titans are now speaking out on US energy policy. We get the details from Bloomberg's Lisa ma Tale. Sources say JP Morgan Cha CEO Jamie Diamond is telling President Biden he needs a martial plan for developing more

domestic natural gas. That was at a White House meeting on Monday. According to source Is, Diamond urged the White House to reduce the time needed to obtain permits for renewable energy projects such as wind farms. Diamond also spoke about the need for more short term investment in oil and gas despite longer term climate goals. At the same time, Black Rock CEO Larry Fink says the invasion of Ukraine has the potential to speed up the global shift to green energy. He says it could also do the same

thing for digital currencies. That's from Fink's annual letter to shareholders in New York. I'm Lisa Matteo Bloomberg Daybreak, Eice Lisa. The White House also working on its budget plans right now. Bloomberg News has learned President Biden's plans to request more than eight billion dollars in national security spending, including seven dred seventy three billion for the Pentagon, in the federal

budget He's going to send a Congress on Monday. That's an increase of thirty one billion, or four percent, from approved spending for the current fiscal year. Another major story we continue to follow. John brings us back to Capitol Hill, where Supreme Court confirmation hearings will conclude for Judge Kanji Brown Jackson. Judge fended off an orchestrated verage of Republican attacks on her record as things got tense among members

of the committee. Amy Morris has details from our Bloomberg newsroom. In Washington, Republican Senator Lindsey Graham voted to confirm Jackson less than a year ago, but had a sharp exchange with her over sentencing and child pornography cases. I think the best way you deter a crime when it comes to child pornography is you lure the bloom on anybody who goes on the Internet and pulls out these images for their pleasure. Senator, every person in all of these

UH charts and documents I sent to jail. Committee chair Take Durbin accused Senator Ted Cruz of not allowing Jackson to answer the question. Chairman Durbin, I've never seen the chairman refused to allow a witness to answer a question. You can bang it as loud as you want. I can just tell you at some point you have to follow the rules and emotional Senator Cory Booker defended Jackson, saying the GOP allegations are without merite. You have earned

this spot. You are worthy, You are a great American. Jackson's nomination will likely end up in a party line deadlock, but that's not likely to stop Democrats from confirming her as the first black woman to the Supreme Court in Washington. I'm anymore as Bloomberg Daybreak, Thanks Sammy. Turning to the economy now, the calls for a fifty point rough fifty basis point rate high at the next to FED meeting and growing louder markets pricing in a rate increase at

every Center Bank meeting this year. We caught up with San Francisco FED President Mary Daily. I will absolutely um confirm what you know Jay Chair Powell's confirmed for himself, which is that I have everything on the table right now. If we need to do fifty fifties, what we'll do. If we need to do twenty five and balance sheet, that's what we'll do, as the data will help us

determine how much is necessary. San Francisco FED President Mary Daily making the comments and in the interview with Bloomberg, Mike McKee catch more of that interview coming up later this hour, and John, we also have news this morning on Global Train. The US is set to reinstate exemptions on some Chinese goods hit by Trump arrett pariffs. The exclusions will apply to more than three hundred fifty manufacturing components and consumer products, ranging from TV screen parts to

backpacks and bicycles. The Trump administration had originally granted more than twenty two hundred tariff waivers, but those expired. In local headlines in the check of Sports. Next to this is Bloomberg. Thanks Nathan Trio, settled of Wall Street, and time to bring in Michael Barr for more on what else is going on to New York hands around the world, John, thank you very much, sir. New York State Controller Thomas Dinnopoly says New York will fully divest all Russian holdings.

Monopoly spoke with Bloomberg's and Ali Massak when the war broke out. We said we were going to freeze any new investments, and we were making an assessment of what we considered to be the risk of the portfolio if we continued to be invested. State Controller Donopoly says it's largely in the public equity portfolio a little bit in fixed income quantified at about one hundred and ten million dollars.

Chinese State media says the search areas being expanded for the second black box from a China Eastern passenger plane that crashed in southern China with one thirty two people on board earlier this week. One of the black boxes was found yesterday. Secretary of Health and Human Services Zavier Bassa warns that Congress and funds to fight COVID have

already run out. The fund Congress established to reimburse doctors and other medical providers for COVID care for Americans, in particular, the uninsured, is no longer accepting new claims for pro from providers for testing or for treatment services. Secretary of Basrah at the White House COVID nineteen Response Team press conference says if Congress does not approve more COVID funding, COVID help for vaccines, pills, and other treatment will vanish.

US Secretary of State Anthony Blinken slammed the Taliban for ditching gets commitment to real open high schools two girls at the last minute. A sudden reversal by the Taliban was met with sharp criticism from the United Nations, while b. Lincoln said it would profoundly harm the group's ability to build ties abroad. Madeline Albright, who rose to become the first female Secretary of State, has died of cancer. President Bill Clinton chose Albright as America stopped diplomat in n

Former US Ambassador Thomas Pickering spoke about Albright. She had little love, I would say, for Russia, and that skepticism and indeed suspicion about Russia has proven to me more true than I think any of us had reason to believe when I worked for her. Former Ambassador Pickering spoke with Bloomberg's Joe matthewelve. President Barack Obama awarded Albright the

Middle of Freedom. Madeleine Albright was eighty four global news twenty four hours a day on air and on Bloomberg Quittank, powered by more than twenty seven hundred journalist and analyst more than twenty countries. I'm Michael barn This is Bloomberg, John Michael, Thank you DA. That brings us to five ten of Wall Street. Time to out with the Little Birch.

Sports update, good pornamed John Stansward Green's Brooklyn Net season has gone from not playing at all due to his decision to not get vaccinated, to playing only in road games. But now is the NBA regular season winds down, New York City is set to lift the private sector mandate for in person work and Irving will be a full

time member of the team. Played last night in Memphis, scored forty three points in the net one two one twenty loss, and Tyree was asked the best jumping in in the line of jumping out, you know, looking forward hopefully that could could be something we could fix and move past. I can't wait to talk to you guys once this is you know, something's official and that's expected that a mayor added with mid day press for today

at City Field. This also affects unvaccinated met and Yankee players, although still have to be vacks to play in Toronto and the Yankees have ten games there. The Knicks is one of their better games of the season one oh six win at Charlotte, did it without two stars. There's Julius Randall and Mitchell Robinson seven nicks and double figures laid by R. J. Barrett's thirty points. Devils lost in Toronto three two n C double a tournament returns tonight

with double headers in San Antonio and San Francisco. That's where Duke plays Texas Tech. Will it be the end of Mike Schefski's coaching career? N I T quarterfinal wins for Texas A and M and Washington State Ron Harper Jr. Leaving Rutgers turning pro for a while. Yesterday I looked like the Jets might be acquiring star wide out Tyree Hill from Kansas City. The chiefs agreed to terms of deals with the Jets and Dolphins and then let Hill

decide where he wanted to go. He chose Miami and he's got a four year, hundred twenty million dollar contract with them. John stash Atward, Bloomberg Sports, John, John, thanks very much. Add ahead of the cashow up on the wall Street Town futures right now up one hundred sixty five points. That's a rise of half a percent. SMP EMNI futures twenty eight points higher, up six tenths of a percent. Of the NaNs next futures up one hundred eight points, a rise of three quarters of a percent.

You are listening the Bloomberg Daybreak and just ahead our Anne Marie Hordern is traveling with President Biden as he's set to address at a meeting of NATO ministers. Will bring that to you live. You're listening to Bloomberg Daybreak, Markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. He's a Bloomberg Business Flash. Nathan Hager stocks

are taking higher while treasuries extend their slide. His investors way the risks of rising inflation and the impact of the war in Ukraine. We checked the markets every fifteen minutes during the trading day on Bloomberg Right now, S and P futures are up twenty eight points down futures up a hundred sixty three. Nastack futures are higher by a hundred fourteen points. The ten your Treasury is down eighteen thirty seconds. The yield two point three yield on

the two year two point one four percent. Nime X screwed is up two tenths percent of seventeen cents at a hundred fifteen dollars. Fifteen cents of barrel comics gold is up a tenth percent or at dollar seventy at nine announced the euro is at one point zero nine eight six against the dollar, the pound one s one, and the end is at one point six four. That's a Bloomberg business flash. And now here's Michael Barr. What's more on what's going on around the world. Good morning, Michael,

Good morning Nathan. Ukraine President Voladimir Zelenski called on people worldwide to gather in public to show support, whereas in battled country as he prepares to address US President Joe Biden and other NATO leaders gathered in Brussels. New York City Mayor Eric Adams will announce today that he's exempting athletes and performers from the city's vaccine mandate for private workers. The move will allow Brooklyn net star Kyrie Irving to

play in home games NBA games. The Nats lost the Knicks and Celtics won in the NHL The Devil's Lost. Global News twenty four hours a day on air and on Bloomberg Quicktake, powered by more than twenty seven under journalist and now honest to more than twenty countries. I'm Michael bar. This is Bloomberg jo Michael. Thank you at this moment, President Biden meeting with allies and Brussels discussing

ramping up pressure on Russia. Let's head to Brussels right now, NATO headquarters and Bloomberg's and Marie Hordern, who is traveling with President Biden. Amory. We're seeing the images from the NATO headquarters right now. They're glad handing the NATO ministers and heads of state. President Biden just sitting down at the large table there. This is more than just a show of unity or is it? Oh no, this is an extraordinary meeting and this is definitely more than just

a show of unity. And it's back to back to back stomach today NATO Headquarters of presidents to begin and then of course there'll be a G seven meeting, and then he'll head over to the European Commission and he'll address the European Union. Uh. This is all about just on the symbolic front, of course, showing that unity, but also about what comes next. A lot of questions that s allies need to discuss in terms of how they're going to amp off the pressure on President of Ladomya Putin.

We know the United States is going to do today if they are going to have more sanctions announced, more

sankists than penalty against the Kremlin. Becauld be a number of tycoons, oligarchs and lawmakers at Russia's State Duma, and then there's can be a lot of discussions on how the United States can help Europe and try to loosen their dependency on Russian oil and gaps, because that is still one area of Russia's economy that is still bringing in millions of dollars a day or leads for President Putin, and there will be a visitor of presumably from a

video hook up at some point today from Ukraine's leader, yes, president of a little bare Lensky. He will be joining the Native Summit of virtually he's been doing this almost He's been making a world tour and his virtual visits really imploring global leaders and even citizens in the world

to stand as Ukraine. Just last night in a video message, and he does them almost every evening, but last night he's spoken English, and he told individuals around the world that tomorrow, that's today March marked one month of the invasion, to go to your downtowns, go to your squares and protests, bring Ukrainian flats and show solidarity with us today. His

messages is going to be tough on leaders. He wants them to do more more offense if you have more sanctions to close any loopholes the state as state, countries, countries or companies they are doing businesses Russia. And I believe he said something like these summits, they're going to show who his real friends are when it comes to energy security. Is everybody on the same page there in Europe?

This is a tough one and this is gonna be where you're gonna see the most at tension because Europe is still reliant on energy, especially the likes of Germany. Within fifty percent of German's natural gas, how they like their homes, how they heat their homes comes from Russia. And you just can't turn off the tax that quickly if there's just not enough to supply in the world.

And also Germany doesn't have the infrastructure to this. So I don't think you're going to see an immense amount of pressures in the United States on Germany because they do know what kind of situation they are in. But what we have seen is very telling. The German government.

Robert Habet, the German Economy Minister, he's been working already on alternative sources and he doesn't go how over the weekend and he can't be have this veiled a threat to driving a Putin actual was signing these deals with Cutter to make sure they can get liquefied natural gas ships. He said, we might still need rushing gas this year, but not in the future. It starts like this, so

he who has ears should start to listen. So this is not going that could be done immediately, but this is something Germany and the rest of Europe are thinking about long terms. Presumably the NATO leaders there, the ministers are gaming Vladimir Putin's next move. What do they suppose that will be and how do they prepare for that? Well,

there's lots of talks. And the President said different us exiting the White House leaving for this trip, about how worried how much of the threat that he chang puching the revert to chemical weapons, and the President said it was a high threat. And you've seen US officials come out publicly talk about the potential that Russia would use the false flag operation to revert to chemical weapons. Now pleasant Latimer Puchin had air cover and supported Bashar al

Assad and Syria when he also used chemical weapons. We should also note President Puchin Russian government needs Numa chalk, a chemical weapon in Balndbury, United Kingdom. So this is something incredibly high on the worry list and the potential threat that leaders are going to be discussing. The big question though, is what happens next, yah Seltenberg, President Biden. We've all heard them say they'll be severe consequences, but

exactly what all those consequences we do not now. And Marie thanks very much Bloomberg's and Marie Horde and reporting live there from outside NATO headquarters in Brussels, and uh Yen Stoltenberg ahead of NATO right now is speaking to the group assemble. They're the world leaders as well as the NATO ministers, including President Biden, sitting around the large

round table there at the NATO headquarters. After Mr Stoltenberg speaks, he'll presumably introduce President Biden in this show of unity that goes beyond just shows. And REI told us ahead of the cash open on Wall Street, looking at futures right now, they are higher that OW futures up one hundred and fifty two points. That's up four tenths of a percent, the S and P futures twenty seven points higher, that's up six tenths of a percent, and the nastic

features of one hundred and eight points. That's up three quarters of a percent this morning. As we also look to treasuries, the ten year yield right now to thirty six, that's up six basis points as we see a bit of a sell off resuming four bonds. You're listening to Boomberg day Break and Bloomberg Weather for bron carro on the fort to night occasional rain, the high temperature in the mid fifties. The rain is going to end tonight and then tomorrow mixes sunny clouds. The hot temperature topic

out at around sixty degrees. Broadcasting live from the Bloomberg Interactive Broker's studio in New York, Bloomberg in Loving Freed to Washington, d C. Bloomberg to Boston, Bloomberg one oh six one to San Francisco, Bloomberg nine six to the country, Sirius XM to the one nineteen and around the globe, the Bloomberg Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak and It's five thirty on Wall Street. Good morning, I'm John Tucker. I'm Nathan Hagar. We're about

four hours away from the open of US training. Let's catch you up to date on the news you need to know. At this hour, we are a month into Russia's invasion. Off you crane, and President Biden is in Brussels to meet with allies. They will discuss new plans to pressure Vladimir Putin to withdraw his forces. Bloomberg Senior reporter Mark Champion says this meeting is crucial. It is important.

We've had a month of war now and he's going to be sitting down with leaders that he's been talking to biphone by video link throughout and trying to really coordinate a response. They have to think about what happens if Russia decides to escalate. They need to think about China. If China does come in and support Russia, either economically

or with weapons. There's a lot to talk about. Bloomberg's Mark Champion says the US also plans to announce additional sanctions on Russian political figures and oligarchs, and at the same time, the US and EU are also close to a deal to slash Europe's dependency on Russian energy, and agreement may be announced as soon as tomorrow. Stocks in Russia are trading for the first time in nearly a month, and they're trading higher, but under heavy restrictions. The government's

allowing just two thirds of equities to trade. Russia has also banned short selling and restricted foreigners from exiting local equities and turning to US politics now. Confirmation hearings conclude today for the Supreme Court nominee Katanga Brown Jackson. Yesterday saw Jackson fend off GOP attacks on several fronts, including

her record on crime, child pornography, and abortion. I would do what I've done for the past decade, which is to rule from a position of neutrality, to look carefully at the facts in the circumstances of every case, without any agendas. Do you send A Judiciary Committee plans to vote on Jackson's nomination April four. She's expected to be confirmed with the vote along party lines. Yeah. Budget plans

are center stage in Washington today. John Bloomberg News has learned the White House plans to request more than eight hundred thirteen billion dollars in national security spending, including seven hundred seventy three billion for the Pentagon. In the federal budget that goes to Congress on Monday is an increase of thirty one billion dollars, or four percent, from approved

spending for the current fiscal year. Right now, SMP futures are up twenty six point Stole futures up a hundred forty six, NASTACK futures higher by a hundred two points. The tenure treasury is down nineteen thirty seconds. The yield two point three six percent yield on the two year two point one four percent, NIMEX screwed is lower now down four tenths percent or forty one cents at a hundred fourteen dollars fifty one cents a barrel, and comic Gold is up a tenth percent or a dollar ninety

at announced. Straight ahead your latest local headlines in the check of sports. This is Bloomberg. Yeah, three on Wall Street. Let's bring in Michael barn now with more of what else is going on in New York and around the world, John, thank you. New York Controller Thomas Donopoli says the state will fully divest all Russian holdings. Donopoly says when the war broke out. We said we were going to freeze any new investments. This is largely in the public equity portfolio,

a little bit and fixed income. We quantified it at about a hundred and ten million dollars so on our based on a significant exposure control. The Donopoly spoke with Bloomberg Sonali Bassett. The search area was expanded today for the second black box from a China Eastern passenger jet that crashed in southern China with a hundred thirty two people on board earlier this week, off and on rain

was impeding the search for a second straight day. One of the black boxes, believed to be the cockpit voice recorder, was found yesterday. Investigators said it's outer casing was damaged, but the orange cylinder was relatively intact. North Korea launched its first intercontinental ballistic missile in more than four years. Kim John oone abandoned a testing freeze that an underpinned and unprecedented wave of talks with the US. The nation's

first woman's Secretary of State, Madeleine Albright, has died. President Clinton chose her in her well known quick wit came out during the ABC interview about a job I loved what I did. Um I did sleep when I could on command. UM I didn't exercise enough. Being Secretary of State was a very fattening job because I was eating for my country. Former US Ambassador Thomas Pickering about Madeleine

Albright's passing. I had the honor and the pleasure of working with her as her second deputy in the State Department as under Secretary. And she was forthright, She was always strong. She had very firm views, particularly in Eastern Europe. Pickering spoke with Bloomberg's Joe Matthew. Albright received the Medal of Freedom in twelve and let Albright died of cancer.

She was eighty four global news twenty four hours a day on air and on Bloomberg Quickdake, powered by more than twenty seven hundred journalist and analyst in more than a d twenty countries. I'm Michael Barr. This is Bloomberg, John Michael, thank you. It's five thirty Thought on the Wall Street and that means it's type of Bloomberg Sports Someday, here's John stan Shower. Thanks. John. Has certainly been an unusual situation. Nets Star Kyrie Irving playing only on the

road due to New York's vaccine mandate. It became really bizarre when Irving was allowed to sit in the stands at the Nets home game but couldn't play. That is going to now change. Mayor Hannamals will make the lifting of the mandate official today Oppressor at City Field. This is also a sigh of relief for the Mets and Yankees, who are said to have unvaccinated players, and it's a move that will significantly improve the nets chances in the

upcoming playoffs. Irving has been on a terror lately, had a fifty point game, then sixty last night forty three points, Kevin Durant at a thirty five, but the Nets lost in Memphis one oncety. The nets next home game is Sunday, Nicks one in Charlotte once one oh six. Their coach and a lot of different areas, so it wasn't it was a challenge, obviously. That's bad, guys, I thought you have shellfishness to start the game in the when Evan Fournier broke John starts his Knick's record for most three

pointers in the season. Devils lost in Toronto three two in Tampa. Yankee home runs for d J le Mayo, Labor Torres, John Carlos Stanton, a seven one rout of Baltimore. Aaron Judge and the Yanks exchanged arbitration figures one million from Judge seventeen millions from the team. The two sides said to be at work on a new long term deal. Tyreek Hill, latest NFL started, get traded in what has been a wild NFL off season in Kansas City. Delve Hill to Miami for five draft picks, and he signed

a lucrative deal with the Dolphins. The Jets were in it, but the chief let Hill decide where he wanted to go, and he chose Miami. John's Cash evant Bloomberg's Sports John John, thanks very much. The idy is find thirty seven off Wall Street, and that means it's time for the Tri State Business Report. After that we're joined by Bloomberg's ed Quarry. New York City officials want to continue outdoor dining the sustained restaurants during the pandemic, but they want to move

away from shipping containers or plywood shacks with heaters. Some favorable more europe and streetscape of beast road tables and colorful umbrellas, that could be removed at closing time. Jekyll and Hyde Club, a New York restaurant known for its

horror themed food and shows, is filed for bankruptcy. The Kitchy eatery, located in Greenwich Village, owed millions to creditors, including one and a half million dollars in back rent, according to papers filed in bankruptcy court in Manhattan, New Jersey's last two remaining coal fired power plants are set

to shut down. Excelon's Atlantic City Electric Utility says that buying out existing power purchase agreements and shuttering the Logan and Chambers plans would save customers as much as thirty million dollars. Now jew Bloomberg twice day Business Report, I'm ed Corey, all right. Thanks At 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 their global news team for some of the top stories heard on our three hundred affiliate radio stations around the world. I'm Steve polto Scan on ten ten Wins in New York. We're talking about how high oil prices aren't just making gasoline more expensive. I'm Corney Donahellan keral d and Dallas Airlines are urging President bidens and mass mandates on planes. I'm Scott car on w c CEO

in Minneapolis, St. Paul. I'm reporting on supply chain issues, meaning General Mills has had to reformulate some products. Mid Corey on w w J in Detroit. I'm reporting Michigan had its first licensed recreational cannabis consumption label. Yeah, those are SABA. These stories are twenties. Seven hundred unger journalists and analysts are working on this morning around the world. It is now five thirty nine on Wall Street. The

following is an editorial from Bloomberg Opinion. Russia has been hit with unprecedented global sanctions in response to its invasion of Ukraine. But couldn't the Russian government use cryptocurrencies to dodge those penalties. It's a reasonable concern, but if Russia were to try, it might be unpleasantly surprised. It turned out crypto isn't as attractive for Monday laundering as it

used to be. Unlike a banknote, of crypto token retains the digital fingerprints of everyone who has ever held it. And law enforcement agencies are constantly getting better linking those digital fingerprints to people. Still, policymakers can do more to prevent sanctions of asion, for example, by demanding token exchanges and decentralized crypto platforms report suspicious transactions. Showing up the system would make life harder for all sorts of financial criminals.

It's an opportunity the US and other governments shouldn't pass up. 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 opian go on the Bloomberg terminal. This has been Bloomberg Opinion and Bloomberg Opinion editorial is gonna be heard every weekday at this time. Terminal costomers can read more at opie. I n go

ahead of the cash open. The Wall Street futures in the green today down futures one and fifty two points. That's a rise of four tens of a percent, the n SMP EMNI futures of twenty seven points, that's the rise of six tenths of a percent right now, and the nastat features up one hundred and seven points. That's up three quarters of a percent. Ten year yield up six basis points at two five. This is Bloomberg and a Bloomberg weather for meteorologist Rob carolin Forth today occasional rain,

the high temperature in the mid fifties. Tomorrow's outlook mix of sun and clouds, high temperature topic out at around sixty degrees. Markets, headlines and breaking news twenty four hours a day at Bloomberg dot com, The Bloomberg Business at and at Bloomberg Quicktape. This is a Bloomberg Business lash. I'm Nathan Hager. This update is brought to you by s EI. Today's competitive marketplace requires asset managers to become

more Operation Sally adept. See how you can transform your business with SEIS Global Platform at se i C dot com slash i m s. European stocks are pairing their gains. Treasuries in the US are extending their slide as investors way the risks of rising inflation and the impact of the war in Ukraine. The dollar is edging higher. We checked the markets every fifteen minutes during the trading day on Bloomberg. Right now, SMP futures are up twenty seven

point staff futures up a hundred fifty four. NASTAC futures are higher by a hundred thirteen points. The decks in Germany has little changed. The CAC in Paris is up two tenths of one percent. The ten your Treasury is down sixteen thirty seconds. The yield two point three five percent. Yield on the two year is two point one three percent. NIMEX screwed is down three tenths per cent, or thirty six cents at a hundred fourteen dollars fifty seven cents of barrel Comics gold is up a tenth per cent

or two dollars ten cents at nine seventy announced. The euro one point zero nine nine one against the dollar, British pound one point one six six. The yen is at one one point six three. Bitcoin is hired by one and a half percent right around forty three thousand dollars. At eight thirty Wall Street time, we get initial jobless claims plus durable goods orders. SMP Global p m I come out at eleven am. It's the Kansas City Fed

manufacturing activity. Darden Restaurants is among companies scheduled to report earnings today That is a Bloomberg Business Flash and now here's Michael Barn with more on what's going on around the world. Good morning, Michael, Good morning Nathan. President Joe Biden is set to meet allies in Brussels to discuss ways to pressure Russian President Vladimir Putin to withdraw forces from Ukraine. The discussions come a month after the Russian

leader ordered troops to invade. North Korea has fired a suspected long range missile towards the sea and what would be its first such test since tween. New York City Mayor Eric Adams will announce today that he's exempting athletes and performers from the city's vaccine mandate for private workers.

The move will allow Brooklyn Nets stark I Ree Irving to play at home games and let unvaccinated baseball players take the field when their season begins NBA games, The Nets lost the Knicks and Celtics won in the NHL. The Devil's Lost. Global News twenty four hours a day on airand on Bloomberg Quick Take, powered by more than twenty seven hundred journalist and analyist more than a hundred twenty countries. Michael Lauren, This is Bloomberg. John, Michael, thank you.

Coming up on five fifty on Wall Street. This is Bloomberg Daybreak. I'm John Tucker. Let's talk interest rates now and the path they had for the Federal Reserve Chair J Powell has opened the door to a half a point of rate high cap as Central Bank's next meeting, and it looks like other Fed officials are getting on board with that idea. Let's get the view from San Francisco FED President Mary Danley Now. She sat down for an interview with Bloomberg's Michael McKee yesterday, and here's what

she had to say. The traditional way that we've done it over the last couple of decades is you raise the interest rate, you RESTU meeting, You raise the interest rate, your RESTU meet h And it's really that gradual approach that was meant to see what's going on and then make adjustments. But the SEP medium was seven increases in two and that suggests quite a bit of front loading

on policy. And I'll remind people if i'm may that we're also going to make balance sheet adjustments and as early as in the main meeting, but that hasn't been decided completely yet. But that's another you know, that's generally considered an equivalent to at least another rate hike. And then, and this is something we often don't talk about either. We're making these adjustments at the same time other central banks across the globe are making similar types of adjustments

tightening policy. So we could get a lot of tightening and financial conditions globally, and that is something we have to think about. So I do think relative to previous periods of tightening, this is quite a bit of front loading, just as the SEP has indicated. Chairman Powell said on Monday that he's open to a fifty basis point move at the next meeting, and the market is certainly taking him at his word. Are you willing to support that?

I think the data will tell us whether fifty basis points or basis points in the balance sheet is the right recipe or fifty basis points in the balance sheet. These are all the tactics of how we get the policy rate adjusted, and the data will help guide us if and I and so I would hate to front run those deliberations, but I will absolutely um confirm what you know Jay chair Polls confirmed for himself, which is that I have everything on the table right now. If

we need to do fifty fifties, what we'll do. If we need to do twenty five and balance sheet, that's what we'll do. But the data will help us determine how much is necessary. The important thing I think everybody would listening would like to know is that we're committed to moving the policy rate in alignment with what the economy needs, and right now it doesn't need all the extraordinary support that we've been offering. What do you think the war in Ukraine is going to do to the

global and US economies? Uh? We had Christopher Waller, governor on the board, say that he didn't vote for fifty basis points last time because he was unsure. But Jim Bullard told me yesterday, we can't wait to find out. We have to We have to act now. What do you think? So when I look at the you and I put a couple of risks in front of people, so that the invasion of Ukraine and the ensuing difficulties. Um, first, my heart goes out to the Ukrainian people, but I

should think about the effects on the economy. You know that it is definitely a global headwind on the US, in the US, but the domestic economy. I see it as mostly a risk to inflation, further upward pressure on on prices gasoline, He's already seen it at the gas pumps, but also other commodity prices, which ultimately are inputs to goods that we are already finding high prices for. So

I certainly think it's an upside risk to inflation. I've factored that in, and I think it's a modest risk to growth, but not the kind that would produce anything like stag inflation, because again, we're not We're a net oil exporter right now, and so when bryce's rise, production in the US also increases, and we get that offset on growth, but we you know, this is a big uncertainty shock. And then you also have this happening when

it's clear that COVID is not completely behind us. That was San Francisco FED President Mary Daily speaking with Bloomberg Michael McKee from the Bloomberg Equality Somebody yesterday. Right now, markets pricing at a rate hike from the FED at every one of the Central banks meetings this year. FED officials issue the next policy decision May fourth. Nathan, all right, John, thanks want to passed along a red headline just across

the Bloomberg terminal. The world's leading economic powers plan to warn Russian President Vladimir Putin against using chemical or nuclear weapons in Ukraine. That is, according to a draft statement the Group of Seven plans to issue today. President Biden is in Brussels for summits with NATO, the G seven, and the European Union. It's now five fifty four on

Wall Street. Time for our Bloomberg Law report. Let's gait to the legal stories we're watching this morning with Bloomberg's Jeff Balinger, and that for the SE group is petitioning the Biden administration to take a direct hand in lowering drug prices and increasing access. Buiser's COVID pill and a Askar Zeneca asthma drug are among the group's targets. Judge Allison Nathan has been confirmed to the New York based Federal Appeals Court. Judge Nathan oversaw the sex trafficking case

of Gilly Maxwell. A federal court in Ohio rejected a Biden administration requests for more time to shift away from immigration policies that prioritized who could be arrested and deported 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 brings us to Capitol Hill, where Judge Ktanji Brown Jackson has held her own against a barrage of

Republican attacks centering on crime and race. She is inching closer to becoming the first black woman on the Supreme Court after two marathon days of testimony before the Senatejydiciary Committee. For more on Judge Jackson's confirmation, Shann Hearing Bloomberg's June Grosso speaks with Gloria Brown Marshall, Professor of Constitutional law at John j College of Criminal Justice. Tell us how you think Judge Jackson has handled herself through all these

hours of hearings. I think Judge Jackson has shown grace under pressure and she has handled herself with spectacular patients given the type of political gabbings that are going on between the parties using this platform to get back at each other for veiled nominees in the past, such as Robert Bourke, and the treatment has been alleged by the Republicans as being fraught with all types of political intrigue

with Kavanov and even Clarence Thomas. So I think they're taking out past grudges on each other and using this platform and using her, and under all of that pressure, she is taking it extremely well. I think most of us would not be able to take this kind of abuse of the record and personal talks about her and hobbling criminals and people who possess child pornography and keep a level head. But she's been showing herself through this entire time. There's been a concerted effort by Republicans to

paint the judge as soft on crime. Five senators in particular questioned her over and over and over again about what they called her lenient sentencing of a defendant convicted of having child porn. She's written as a distreccort judge and as the pilt court judge. I believe nearly six hundred opinions maybe more. And so the job of people who want to oppose her domination or tank her before she has sends to the bench is to find the most scandalous controversial things in her record and just keep

saying it over and over again. It was successful. For Donald Trump, and so they're trying to make it successful for them. There's conservatives then once again playing to their base to try to get those conservative voters to vote for them in the midterm election. I think it's a political ploy and I think it's dandalous. But these are politicians, so they know how to play dirty, and trying to use critical race theory is throwing meat to the lions.

You know, a politicians will use any type of ammunition to throw mud when mud is necessary in their in their minds. That's Professor Gloria Brown Marshall of John j College of Criminal Justice speaking with Bloomberg's June Grosso. You can 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 by

subscribing to the Bloomberg Law Podcast. And attorneys can find exceptional legal research and business development tools at Bloomberg Law dot com. Sup features up twenty five point, staff features up a hundred forty six, DANSTA futures up ninety seven points to ten, Your treasury yield two point three six per cent. This is Bloomberg