Bloomberg Daybreak: March 30, 2022 - Hour 1 (Radio)

the biggest crypto heist ever. Three Buffalo police officers were shot, plus the White House wam block President Trump's daughter and son in law from testifying before House Committee. Michael barn More and John stashdown Sports Kevin Durant led the Nets to victory over the Pistons, Chris Cryder and the Rangers

with a road win at Pittsburgh. That's all straight ahead on Bloomberg day Break on Bloomberg Element Tree 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. Go on Bloomberg Radio dot Com and via the Bloomberg Business Set. Good morning, I'm Nathan Hagar and I'm kmeron Moscow and US futures are lower

this morning. We're coming up to five o one on Wall Street, and we check the markets every fifteen minutes throughout the trading day on Bloomberg. Right now, SNP futures are down seventeen points, DAL futures down one seven and NASDAG futures down the seventy two. The ten year treasury is up to thirty seconds l two point three eight percent yield on the two year two point three zero percent. NI back screwed oil is up two point four percent, up two dollars fifty two cents and a hundred six

dollars seventy four cents of barrel. The euro one point one three against the dollar. Nathan, Well, Karen, we'll have more on markets in a minute, but first let's get to the latest on the war in Ukraine. Russia is promising to scale back military operations near the capital city of Kiev and the city of churning of but there's still reports of showing near both cities. President Biden was asked whether he thinks the war resending or Rush is just buying time. We'll see. I don't read anything into

until I see what their actions are. We'll see if they follow through and with their suggesting, the President Biden spoke at the news conference with the Prime Minister Singapore. Ukrainian President Vladimir Zelenski also has his doubts. Got more. We can say that the signals we hear from the talks are positive, but these signals can't silence the explosions of Russian shells. President Zelensky says their grounds not to

trust Russia. A regional governor says the city of Churnhead was shelled all night despite Russia's promises, and the United Nations now says more than four million refugees have fled Ukraine Back in the US, Nathan new revelations tied to last year's attack on the Capitol. There are more than seven hours of gaps in White House telephone logs from the afternoon of January six, and those gaps coinside at the same time protesters swarm the US capital. Amy Morris

has details from our Bloomberg newsroom in Washington. The committee investigating the insurrection found a big gap from a little after eleven am to about seven pm in the logs provided by the National Archives, but there is evidence that the president did talk with people inside the Capitol that day, including Kevin McCarthy, Jim Jordan's, and Mike Pence calls that

don't show up on the White House logs. Now, the committee is trying to determine if the President bypassed the White House system by using a burner phone or his AIDS cell phones in Washington. I maybe more as Bloomberg daybreak. Okay me, thank you. Let's take a look at markets now.

Beginning with treasuries, the tenure yield briefly dropped below it's two year equivalent yesterday for the first time since that inversions, leading to growing calls about the likelihood of a recession in the US, but Aaron Brown at Pimco says those concerns may be premature. It has been a good predictor in the past that recession is coming, but I don't

think that really tells you anything new. We knew that we're relate cycle, and typically the yield curban birds and then it takes anywhere from eighteen twenty four months to actually move into a recession. So we're still quite a ways out until potentially we're going to enter into a recession. Pimco fund manager Aaron Brown says, it is more critical to look at why the yield curve is inverting. Meantime, all eyes are on the Fed. We will hear more from the Central Bank later today. Tune in for an

exclusive interview with Richmond Fed President Tom Barkin. That's coming up at ten thirty am All Street Time today on Bloomberg Radio and Television. Well, Nathan, when it comes to stocks who are coming out four straight days of games, the S and P five Hybread closed above the hundred level for the first time since mid January. Right now, it's down just three percent from an all time high.

Luca Paolini, as chief strategist at Picked and Asset Management, Marcus were significantly were sold for the number of reasons, of course, the wor in Ukraine, the federal reserves, weekend data, and now everything seems to be not as bad as it was, and so I think that there is this kind of sort of really friendly LOOKA Paolini at Pick Ted Asset Management says despite the rally, he remains conscious.

Bank of America is also staying cautious. Karenet's analysts worn in eleven percent Surgeon stocks over the past two weeks. Has the hallmarks of a bear market rally, and it might give way to deeper losses. We get the details from Bloomberg's Charlie Pellett. Those analysts say warning signs are flashing for a market that has climbed despite clearly weaker fundamentals, including a Federal Reserve bent on raising rates sharply this

year the battle persistent inflation. The strategists cautioned that the sell off that took the SMP five hundred twelve percent from its January record is not over, and sharp rallies are typical of volatility and bear markets, with some of the biggest on record occurring in the throes of the dot com meltdown and the global financial crisis in New York. Charlie Pellett, Bloomberg day Break. Sorry Charlie, thank you. But

let's look at some stocks that are moving. Shares A Lulu Lemon rose more than eight percent in late trading the Athletic, where tailor delivered a sales forecast that beat estimates. Micron shares are out more than four and a half percent. The largest US memory chipmaker, gave an upbeat forecast, a sign that demand remans strong from data center customers and on the flip side. Shares of Chewy are down thirteen

and a half percent. The online retailer of pet care products put out of forecast that fell short of estimates. We're also keeping an eye on cryptocurrencies this morning, Karen, after what is being called one of the biggest crypto attacks ever, and it wasn't discovered for almost a week. Let's get the details live from Bloomberg's Fernita Young. Good morning, Granita,

Good morning, Nathan. Hackers stole about six hundred million dollars from a blockchain network connected to the popular Axie Infinity online game. They drained what's known as the Ronan bridge of close to a hundred seventy four thousand ether and almost thirty million U s DC tokens. The so called bridge lets people convert tokens into ones that can be used on another network. The blockchain that supports Axie Infinity says the breach happened in March twenty three, but is

just discovered yesterday. This attack is the latest to show how bridge hecks can threaten the ecosystem of decentralized apps. Live in New York. I'm re need a Young Bloomberg day break, All right, We need to thank you again. Future is lower this morning, straight ahead, your latest local headlines, plus a check of sports, and this is Bloomberg. Thanks Caring. It's five oh seven on Wall Street where thirty degrees in Central Park. Big problems on southbound Route one and nine.

It is closed for an accident investigation at Woodlawn Avenue. We'll get the details in traffic First. Michael Barr has more on what's going on in New York and around the world. Good morning, Michael, Good morning Nathan. It was a wild scene up in Buffalo. Three police officers were hit by gunfire after a motorist fled a traffic stop and led them on a chase through the city streets. The suspected gunman was firing at officers from the Vehicle

Authority Stay. Officers shot and wounded the driver at an intersection in front of a police station. Buffalo Mayor Byron Brown very very dangerous situation, and we are very thankful that two suspects involved in this situation are in police custody are Brown says. The officers injuries were not life threatening and no civilians on the street were hit by

the flying bullets. The White House were not block former President Donald Trump's daughter and son in law of Aunca Trump and Jared Kushner from testifying to the House committee investigating the January six Capital riot. White House spokeswoman Kate Beddenfield says the constitutional protections of executive privilege should not be used to shield from Congress or the public information about an attack on the Constitution itself. Kushner is expected

to appear voluntarily before the committee this week. A team of US airplane accident investigators and technical experts could have to China as soon as this week to help unravel the mysterious crash of a Boeing seven thirty seven jet earlier this month. All one thirty two people on board the China Eastern jet were killed. President Joe Biden signed a law making lynching a federal hate crime. The President said racial hate isn't an old problem. It's a persistent one.

Hate never goes away. It only hides. It hides under the rocks. Given just a little bit of oxygen, it comes roaring back out, screaming President Biden. An American astronaut who spent nearly a year on the International Space Station, is coming back to a world that has seen some dramatic changes. Mark Vanda High will be returning to Earth and for a time it wasn't clear that the Russians would give him a ride home because of the war in Ukraine. Before departing the I S S, Russian cosmonaut

Anti Scarpolof talked about continued cooperation in space. People have problem on us on orbit. Yeah, like, uh, You'm not like one crew Scarpolof and Vanda High or due to land in Kazakhstan. This morning Global News twenty four hours a day on the air, end on Bloomberg Quick Take Forward by more than seven hundred journalists, analysts more than a hundred, twenty countries. Michael Barr, This is Bloomberg, Nathan, Thanks Michael. Just about five ten on Lall Street, Time

for the Bloomberg Sports Upday. Good morning, John Stanshown, Good morning, Nathan. Regular seasons winding down, playoff positions being jockeyed. Four Rangers would love to have home ice advantage of the first rally. Only lost six regulation home games all season. They're battling with Pittsburgh and they beat the Penguins three to two to move one point ahead. Frank Petronto and Raynge Schneider scored second period Chris Cryder early in the third fifth

goal of the season for Crider. Islanders won four three at Columbus, the Nets had to come from behind. In Brooklyn, they meet Detroit one thirty three. Kevin Durant scored forty one point at the Garden. N I T semi frontal wins from Xavier in Texas, A and M. They'll play tomorrow for the championship. Could be the last n I T game in New York, at least for a while. Until last year, the tournament always ended at MSG. Now they're gonna move it to other cities and Florida could

not be win for the met over the Marlins. Other home run for Francisco Lindor disappointment in his first season as the Mattie's had four home runs in twenties spring training at bats Yankees fourteen to two over the Phillies. Fourth homer for Kyle Agashayoka. NFL Commissioner Roger get El met the media at the owners meetings in Palm Beach. Asked about the league possibly suspending quarterback des Shaun Watson is still facing twenty two civil lasses for sexual misconduct.

Are people were working on it. Obviously, you know these are serious chargets, so we're looking at this seriously. UM. We now have obviously at least resolution from the criminal side of it. Obviously there's still civil charges that are going on, so our investigators hopefully will have access to more information. Watson was recently traded to Cleveland. Whead have got a massive new contract. John stash Allard Bloomberg Sports Nathan Okay, John, Thanks SMP Future is now down fifteen points.

SA futures down a hundred nastact futures are by seventy one point send your treasury or two point three eight percent the two year at two points read zero spread of seven basis points. This is Bloomberg Bloomberg eleven three O. Weather cloudy. Today's showers possible this afternoon, a high near fifty degrees. We could get up near seventy tomorrow with more afternoon showers, upper fifties, partly sunny and breezy by Friday.

Right now thirty degrees in Central Park markets. Headlines and breaking news twenty four hours a day at Bloomberg dot com for the Bloomberg Business out and at Bloomberg Quick Tape. This is a Bloomberg Business Lash and I'm Karen. Moscow stocks are falling, energy prices are rising. Is optimism about a de escalation of the war in Ukraine fades. Europe stock six hundred, snapping a three day winning streak after

surging to the highest level in five weeks. Yesterday, US stock index futures are slipping amid warnings that gains of the past two weeks have the hallmarks of a bear market rally. We checked the markets every fifteen minutes throughout the trading day. On Bloomberg, Guess and p Future is down fourteen points down, futures down eighty nine, vast deck

features down sixty five. The decks in Germany's down one point three percent ten Your treasury up one thirty second yeld two point three nine percent, yield on the two year two point three one percent. NIMEX screwed to oil is up two point seven percent of two dollars eighty two cents at a hundred seven dollars six cents of barrel. Comax school is up three tens percent or six dollars

ten cents. At nineteen twenty four twenty announced the euro one point one eight against the dollar, British bound one point three one four or five, the yen at one twenty one point six eight, and bitcoin this morning is down about a third of a percent at forty seven thousand, three hundred ten dollars, and confidence in the Euro Area economy fell to the weakest level in a year as

Russia's invasion of Ukraine fan fears of rising prices. A sentiment engaged by the European Commission declined to a hundred eight point five in March from one hundred fourteen point one the previous month, and inflation expectations jumped to the Hyacinths records began. And that's a bloomberg business flash. Now here's Michael Barr with more on what's going on around

the world. Michael, good morning, Good morning, Karen. Russia's pledged to scale back some military operations in Ukraine is drawing skepticism. Ukrainian President volodimir's Lensky said there was no reason to believe Russia's announcement that it would reduce military activity near the capital of Kiev given what's happening on the ground. Thousands have died, and the UN Refugee Agency says more

than four million Ukrainians have fled the country. A green light has been given to a second Boosters shot of the MODERNA and Fiser vaccines where Americans over fifty and the immune compromised. The decision comes as there's concern over a new COVID nineteen variant. In the NBA, the Nets one, the Wizards lost. In the NHL, the Rangers and Islanders won,

the Bruins lost. Global News twenty four hours a day on air and on Bloomberg Quick Take, powered by more than twenty hundred journalists and analysts in more than a hundred twenty countries. Now, Michael Barr and this is Bloomberg. All right, Michael, thank you, Just about five twenty on Wall Street Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak and Mark Champion is back with us this morning, Bloomberg News senior reporter for International Affairs, as

we follow the latest on the war in Ukraine. Market morning. As you know, there was a lot of market optimism yesterday when Russian negotiators said that they would scale back military operations near two key cities in Ukraine. But it seems like the reaction from just about everyone around the world is we'll believe it when we see it. What

are we seeing at this point? Uh? Well, there was fighting as usual overnight, with shelling in different areas around Kief and around Chenehof, which is the other city that the Russian said they were gonna pull back from, So not much sign of any change of a night. That wouldn't necessarily mean that the Russians aren't gonna do what they said. But more broadly, we know for already about two weeks now the Russians have been uh digging in around Kief uh and around Chenehoff to kind of more

defensive positions UM, and that is likely to continue. They've been moving units over into Bulous, either to regroup or to replenish losses UH. And the question really is uh, you know. At the same time, the Russians have said that they are going to refocus their efforts on the east, in the Donbass region around Mariopo, which is under siege UM,

and they've been doing that. And the question is whether any units that retreat UM out of uh the northern areas, whether those are then sent around to the other side of the country in the east. So is there any reason then to believe that when Russia says that it's going to scale back, that that could be a first

step towards ending this war. I think the senses that Russia's It's been very difficult to believe what Russia's said up to this point, even before the invasion, when they said that they weren't going to evade, and and here we are, Uh, that's absolutely right. The Russian defense deputy Defense minister who made the announcement, he said this was about building trust. Um. That's going to be very hard to do, and it will have to be uh trust but verify as round the Reagan used to say, um.

And that is not clear yet. And unfortunately, because the Russians at the same time said that they have new goals in terms of just where they're going to focus their effort. Um, there's there's a lot of skeptical skepticism and rightly so. Do we have a sense of from the Ukrainian side, what it would take for them to trust Russia, what they would need to see on the Russian side, Well, essentially they need to see a cease fire.

They need to see an agreement that Russian troops will leave, basically going back to the position where we were before the war started on February three. Um, and uh, you know that there's no sign that the Russians are willing to do that. They goals their stated goals and are considerably larger. Um. And if they were to agree to do so, it would be essentially it would amount to a defeat, which President m put in Is is highly unlikely to acknowledge. So um, there is still a pretty

big divide to to cross. Um, these things get sequenced. So what the Ukraine's are trying to do is to build some kind of ceasefire humanitarian corridors now and then try and leave the really difficult issues for a bit later. But it's it's very hard to organize that because some each side has to give up some of the leverage that they have, uh you know, in order to to

to do one thing without doing the other. So um, that's what we saw yesterday in istan Bull where initially there had been hoped there might be a limited cease fire and it was was not realized. Only have about thirty seconds left here mark where we heard from the u N this morning that now more than four million refugees have fled Ukraine is Europe able to handle that kind of flow. Well, you know we know from the

pot and it's it's extremely politically difficult. Um and at the moment economically Europe is you know, in a difficult place. But yes, this is a block of some five hundred million people. Um, they can absorb it. It's just going to be hot. Thanks for this, as always, Mark Champion with us this morning. Mark Champion is senior reporter for

International Affairs for Bloomberg News. Checking the markets this morning ahead of the Wednesday morning open, futures are pulling back, with SMP futures now down eleven points, STOW futures down seventy two, NASTAD future is down fifty nine points. The tenure treasury is down to thirty seconds, the yield two point four zero percent. Yield on the two year right

now two point three one percent. After the brief inversion for the two's tens curve yesterday, nime x screwed up two and a half percent, or two dollars fifty seven cents at a hundred six dollars eighty one cents. The barrel just ahead. More on the trust, but verify stance when it comes to Russia and seven and the hour as seven and a half hour gap in White House phone logs. This is Bloomberg Bloomberg eleven three oh weather cloudy today, showers possible this afternoon, upper forties for highs.

We'll get near seventy tomorrow with more afternoon showers possible. It'll be partly sunny, breezy, and upper fifties by Friday. Right now thirty degrees broadcasting live from the Bloomberg Interactive Broker Studio in New York. Bloomberg E Living freo to Washington, d C, Bloomberg to Boston, Bloomberg one O six one to San Francisco, Bloomberg nun sixteen to the Country, Sirius XM to one nineteen and around the globe the Bloomberg

Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five thirty on Wall Street. Good morning. I'm Nathan Hagar and I'm Teren Moscow, where just about four hours away from the open of US trading. Let's get you have to date of the news you need to know at this hour. Russia is promising to cut back military operations near two key cities in Ukraine, including the capital Kiev. The pledge comes after the latest round of negotiations, but

the US and NATO have their doubts. We're still seeing fighting to the north and west of Kiev. And here's Pentagon's spokesman John Kirby. We're not prepared to call us a retreat or even a withdrawal. We think that that what they probably have in mind is a repositioning to prioritize elsewhere. John Kirby at the Pentagon says air strikes on Kiev are still happening, so the threat hasn't radically diminished. Meantime, in Ukraine, Karen President Vladimir Zelinski also has his doubts.

We are seeing all of the risks. Of course, we are not seeing grounds to trust the words coming from representatives of the country that continues fighting to destroy US. President Zelinski says there are grounds not to trust Russia, and the regional governor says the city of Chernihiv was shelled all night despite Russia's promises. The u N says more than four million refugees have now fled Ukraine. That's

nearly ten percent of the population. Well, nakan Becky, where the U West we have new revelations tied to the January a six attack on the Capitol, and the House committee investigating the insurrection has questions about former President Trump's calls that day. They've uncovered a seven hour gap in the president's phone logs. The gap covers a period when lawmakers were trying to get him to stop the mob.

Cryptos in focus this morning as well, caring after what's being called one of the biggest cryptocurrency attacks ever and it wasn't discovered for almost a week. Let's get the details live from Bloomberg's or need a young good morning, greda Good morning, Nathan. Hackers stole about six hundred million dollars from a blockchain network connected to the popular Axie Infinity online game. They drained what's known as the Ronan Bridge of close to one seventy four thousand ether in

almost thirty million US DC tokens. The so called bridge lets people convert tokens into one that can be used on another network. The blockchain that supports exi Infinity says the breach happened on March twenty three, but was just discovered yesterday Live in New York. I'm renned a young Bloombergday right, ready to thank you and turning to the stock market. Now, futures are lower after four straight days

of gains. Oil is rising as optimism about a d escalation in the war in Ukraine phades and checking crewed right now, non ex screwed oil is up two and a quarter percent, up two dollars thirty four cents at a hundred six dollars fifty five cents of barrel. Brent is up to percent. It's at a hundred twelve dollars forty five cents. And again, SMP futures are down thirteen points down, futures down eighty NASDACK futures down sixty five.

Straight ahead your latest local headlines plus a check of sports, and this is Bloomberg. Thanks Caring. It's five thirty three on Wall Street, thirty degrees in Central Park and there's an accident on the upper level of Arizono Bridge. Tails coming up in traffic. First Michael Barr with more on what's going on in New York and around the world. Michael,

thank you very much. Nathan. Three police officers are wounded in Buffalo after someone fled a traffic stop and let officers on a long chase through the city and shot at them. Buffalo Police Commissioner Joseph Bramaglia one of the police vehicles being shot at. An officer was struck. Um was hit through the police vehicle windshield was struck multiple times. Um pursued continued on with the suspect vehicle continuing to shoot. Buffalo Mayor Byron Brown says two suspects are in custody.

This was a very brazen situation with a suspect shooting from a vehicle at police officers. Mayor Brown says the wild chase ended at an intersection in front of a police station, where officers shot and wounded the driver. The White House says it will not block former President Donald Trump's daughter and son in law, Ivanka Trump and Jared Kushner, from testifying to the House committee investigating the January sixth insurrection.

White House spokesperson Kate Bddenfield says the constitutional protections of executive privilege should not be used a shield from Congress or the public information about an attem act on the Constitution itself. Kushnier will reportedly appear voluntarily before the committee this week. ABC is also reporting Ivanka Trump is in talks with the panel over delivering testimony. President Biden signed into law the Emmett Till Anti Lynching Act, which makes

lynching a federal hate crime. During remarks at the bill signing ceremony at the White House Rose Garden, the President said, Hey, it never goes away. It just hides Gracia. He isn't an old problem, It's a persistent problem. Till, who was fourteen years old from Chicago, was lynched while on a trip to Mississippi in nineteen. Global News twenty four hours a day on air and on Bloomberg Quittake, powered by more than twenty seven hundred journalists and analysts in more

than one hundred twenty countries. Michael Barr and this is Bloomberg. Nathan. Okay, Michael, thank you. On Wall Street. Time for the Bloomberg Sports update. Here's John Stash fact, Nathan. Only three Angers have scored fifty goals in the season. Vic Hatfield nineteen seventy two, Adam Grays and the Stanley kept winning four season, and Yarmor Yager two thousand six. He's got the club record of fifty four. Chris Crider scored last night. He's got

forty five goals. There are still fifteen games left. Big win for the Blue Shirts three two in Pittsburgh. They moved ahead of the Penguins into second place in the division. The Islanders won four three at Columbus the next first home win that included Kyrie Irving, and they came from behind Pete Detroit one thirty Cabina and scored forty one. The record is good, but I still got pros over there, and tonight they may shots. You know. They started off

the game again six threes in the first quarters. They give you a lot of confidence as a team, you know, So we had to, uh, it's good first to go through periods like that because it's gonna be times when the playoffs with teams get hot unexpectedly and see how the weather storm like the Nets will be in the play in for the right to be in the playoffs. Next tonight host Charlotte next going for a fifth grade

win at the Garden. At i T semifinal wins for Texas A and M and Xavier, who fired its coach during the n i T two teams will play tomorrow the championship. The NFL and an effort to downplay the importance of winning the coin flip that starts overtime, changing its overtime rules at least to the playoffs, no longer will have touchdown win you the game. Both teams will now be a stirt of a possession. Safety of real

Peppers leaving the Giants he signed with the Patriots. He's coming off of torn a c l Will Tiger Woods play the upcoming Masters? Fourteen months after the car accident, Tiger has played in eighteen whole practice round at Augusta National with Justin Thomas and Tiger's son John Stashar Bloomberg Sports. Okay, John, thank you, you're coming up to seven on Wall Street time for the Tri State Business Report. Here's Bloomberg's ed Corey. A new lease at Lower Manhattan's one World Trade Center

bumped ocupancy up to existing tenant. German data processing firm Salonas expanded its space at the tower, taking the entire seventy floor. According to Landlord's Durst Organization and the Port

Authority of New York and New Jersey. Subnby's is accused of resisting the New York Attorney General Earl's efforts to see sales records for some of the auction houses biggest clients claimed stems from a lawsuit New York Attorney General Natitia James accused Southbes of helping a wealthy shipping executive avoid paying taxes on artwork you purchased. New York State residents could be getting a two hundred fifty dollar check to help pay for increasing prices at the gas pump.

Senator Elijah Rinklin has proposed giving the money the current state residents who have registered a vehicle to New York State over the past two years. That's your Bloomberg Trying State Business Report. I'm Ed Corey. Thanks. Just about five thirty eight on Wall Street. Bloomberg Radio is on the air from San Francisco to New York, London to Hong Kong. Let's check in with our global news team for some of the top stories heard on our three hundred affiliate

radio stations around the world. I'm Steve's potas got on Chim ten Wins in New York. We're talking about surging prices for the incredible edible egg. I'm Joan Donager telling Hey why w listeners Philadelphia about Philly Fed President Patrick Harker's golf advice. H'm Gina Servetti and for w BBM in Chicago. I'm reporting that Boeing is basing a lawsuit accusing it of misleading a subcontractor to win a contract for customized plane interiors. I'm caline Head called bloom l

d a B Digital radio in Lundon. We were putting on a major power failure in East London, which means city greet workers are staying home. I'm ed Corey on ww J and Detroit, and I'm re bording General Motors is beating up Hummer EV production after getting more than sixty five pounder preservations. Those are some of the stories our hundred Bloomberg journalists and analysts are working on this morning. Around the world. It's five thirty nine on Wall Street.

The following is an editorial from Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board. The International Criminal Court is investigating potential war crimes committed during Russia's invasion of Ukraine. But even if the court amasses proof of a tro to, these high ranking Russian officials won't face prosecution anytime soon. That's because Russia, like the US, does not accept the court's jurisdiction over its citizens. Even so,

an impartial war crimes inquiry has value. Collecting evidence that Russia knowingly targeted civilians would counter President Vladimir Putin's attempts to cast the war as a legitimate military operation. It would make midd level officials think twice about carrying out criminal orders, and it would demonstrate the world's commitment to defending human rights and the rule of law. Russia's aggression

in Ukraine has shocked the international community. Imposing accountability for such appalling acts is the first step toward ensuring they are not repeated. This editorial was written by the Bloomberg Editorial Board. For more Bloomberg opinion, please go to Bloomberg dot com, slash opinion or ope I n go on the Bloomberg Terminal. These has been Bloomberg opinion and you can hear Bloomberg opinion editorials every weekday. At this time, terminal customers can always read more at O P I

n GO. SMP futures are down thirteen point, Staff futures down ninety Nasdaq futures lower by sixty two points. The tenure treasury yield two point three nine percent. This is Bloomberg Bloomberg eleventh, three oh weather clouds. Today's showers possible this afternoon with a high near fifty. More afternoon showers in a high close to seventy. Tomorrow will turn partly sunny,

breezy and cooler. Friday highs near sixty right now thirty markets, headlines and breaking news twenty four hours a day at Bloomberg dot Com, The Bloomberg Business and at Bloomberg Quicktake, this is a Bloomberg business lash, and I'm teren Moscow stocks are falling, energy prices rising as skepticism about Russia's promised or de escalate the war, and you praying renews

concerns about higher raw material prices and commodity disruption. US Dot index futures are slipping, and we checked the markets every fifteen minutes throughout the trading day on Bloomberg s and P futures down twelve points down, futures down seventy eight, NASDAC futures down fifty eight. The decks in Germany's down

one point to percent. The ten year treasury at little change yield two point three nine percent yield on the two year two point three one percent, nine back Scrude oil is up two percent or two dollars thirteen cents at a hundred six dollars thirty eight cents of barrel. Comic School that three tens per cent or six dollars in ninety nine announced the euro one point one eight against the dollar, British bound one point three one four seven.

The end is at one point eight seven, and Bitcoin this morning down about half percent at forty seven thousand, two hundred seventy dollars as a Bloomberg business flash. Now here's Michael Barr with more unless going on around the world. Muchael Karen, thank you very much. As you mentioned, despite a pledge from Russia the scale backs of military operation

in Ukraine, the war rages on just outside of Kiev. Meanwhile, negotiators from Ukraine and Russia are a schedule to meet again today which could possibly lead to a framework for ending the thirty five day war. The southern US is facing another powerful storm system expected to impact areas still

recovering from destructive weather last week. Forecasters stay involves damaging winds for hundreds of miles as it moves from west to east, and then the potential for destructive tornadoes in the NBA, the Nets one, the Wizards lost in the NHL, the Rangers and Islanders won, the Bruins lost. Global News twenty four hours a day on air and on Bloomberg Quick Tank, powered by more than twenty seven hundred journalists and analysts more than a hundred twenty countries. Michael Barr,

this is Bloomberg. Nathan. Okay, Michael, thank you. It's just about five forty nine on Wall Street Life from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. Let's continue our coverage of the war in Ukraine now from well Washington perspective. For that, we're joined live from our Bloomberg studios in the nation's capital by Bloomberg Government reporter Emily Wilkins. Emily,

good morning. Of course, we heard in the report from Michael Barr there that despite Russia's claims that it's going to pull back from two key cities, that fighting continues. So how is the US responding to Russia's claims? Well, the mood in Washington it's really wait and see right now, Nathan, I mean, President Joe Biden said yesterday that he doesn't read anything into Russia, saying that it's going to de escalate.

After a call with European leaders, Biden said there was consensus all of among them to serve weight and see what Russia winds up doing at this point. I mean, we're talking about de escalation, and we're not talking about a ceasefire. We're not talking about a complete withdrawal. We're talking about potentially a less attacks and attacking around the

capital city of Keith. But some experts say that that could just mean that Russia's regrouping and that they're trying to really focus their efforts in the don Bust region. I mean, we heard very strong rhetoric yesterday from the Pentagon spokesman John Kirby told reporters that nobody should be fooling themselves by the Kremlins came. They will claim they

will reduce attacks. He said it was a repositioning, not a will withdraw and the spokesman Kirby also said that the threat to keep has not been radically diminished, so lots of concern still here in Washington. Obviously, will be keeping a close eye on the continued talks today and and just an eye on the Russian military to see where things are standing. At this point. But as you noted, yes, the sholling has continued, the attacks have continued. Uh, it's

it's definitely the war is still very much continuing. Yeah, that's certainly what we're hearing from Ukrainian officials for sure. And while there there's is this talk of de escalation from Russia, we're hearing talk of escalation from the US when it comes to aid to Ukraine. What is this about a half billion dollars that the Biden administrations thinking of adding on to what it's given to Ukraine. Yes,

that is something that the Biden administration is considering. And now normally a request like that for funding does need to originate in Congress, So we keep keeping a close eye to see if President Biden comes to Congress with that request. Based on lawmakers who I spoke with after Ukrainian President of Vladimir's Lensky spoke with lawmakers the other week, even among Republicans, there was just a high willingness to go ahead and provide a provide whatever type of aid

is needed. So that's definitely one aspect to keep an eye on it, and really kind of signals that the Biden administration does not see this conflict is ending soon. Lawmakers in both the House and the Senate will get a classified briefing today from members of the State Department, the Defense Department, and the Joint Chief of Staff on the status of the war. Yeah, so we'll continue to follow that certainly. Uh see if lawmakers come out with

any comments following those briefings later on this afternoon. What about the legislation that have been considered to remove Russia's normal trade status? Where's that gone? So that has wound upstalled in the Senate. To to Kentucky Republican Senator Rand Paul, he's concerned over this one section in the bill that deals with sanctions on human rights abuses. Senator Paul says the legislation really needs to get specific on which type

of abuses would trigger action. That it can't sort of be the broad language that's currently in there, and the lawmakers are trying to negotiate with him. The concern is that even if the Senate did wind up making the changes, it just delays the process. The bill has to go back to the House, the House has to schedule vote, the vote needs to be taken. They want this to get to Biden's task as quickly as possible, and so they want to avoid making any additional changes to the

legislation that the House passed. So um. Democratic Majority Leader Chuck Schumer said that negotiations with Paul are ongoing. They're hoping to have some sort of breakthrough soon, although certainly as at a certain point here, uh, you know, the still lay. It would be less time consuming to just pass the changes, send it back to the House, and then have the House clear it and send it to President Biden. A lot of dynamics to keep on top of in Washington when it comes to the war in Ukraine.

Thanks to this, Emily, good to have you with us at Bloomberg. Government Reporter Emily Wilkins from Washington. Karen Nathan, it is fifty three on Wall Street. It's down for the Bloomberg Law Report. Let's get to the legal stories where watching this morning from Bloomberg's Jeff Bellinger. A federal judge in California approved an eighteen million dollar deal between Activision Blizzard and the Equal Employment Opportunity Commission. Agreement subtle

sexual harassment and discrimination claims against Activision. Federal court filings in Texas indicate Toyota reach settlements with more than two dozen hybrid owners who sought to represent the class action on claims of a dangerous break defect. McDonald's paid nearly six point four million dollars to General Council Desiree Rols Morrison after hiring her away from Boston Scientific last year. Bloom Burg 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. All right, Jeff, thank you. Now, another legal story we're watching brings us to Sunday Nights now infamous slap. The question now is whether Will Smith will face any consequences for slapping Chris Rock at the Oscars. The Academy Emotion, Pictures, Arts and Science is condemned Smith's actions and said it is starting

a formal review for more in the matter. Bloomberg's June Grosso speaks to Rachel Phuzz, managing partner as Dui Back, Physe and Coleman, and a former lawyer for the Academy. Under California law, was the slap an assault and battery? Yes, absolutely, that was a crime. It was a misdemeanor under California law. That's an unwanted touching. It doesn't rise, I think, to the level of a felony, which is a pretty bad beating in that incident, but one he could have been

arrested and charged with a misdemeanor for that act. The l a p D says that Chris Rock refused to file a police report. Without a police report, are they likely to go ahead with charges? They are not. Not. In an incident like this where there's very little damage done at the end of the day, the police department, the d A. In this incident, where it would be a misdemeanor, the city attorney would likely handle it here in Los Angeles and they are very unlikely to proceeed

without the victim cooperation. Does Will Smith's popularity and status as a mega star well, that stopped the Academy from doing anything drastic, from doing anything more than a slap on the wrist. The Academy has been conservative with its

approach to superstars in the past. I think because it is a body made up of writers, directors, and actors that punishing others in the industry in drastic ways is very difficult for the Academy and they have to be very thoughtful about how they go about various types of consequences. So I think Will Smith that his status will affect how this investigation and the ultimate resolution comes out. What are the possible consequences what they could do, Not that

I'm saying they will do. I think it's everywhere from revoking his membership to the academy. They could revoke his OSCER. They could ban him from attending the officers for one year or in perpetuity. I would think they will also look to see if they can find him under their by laws. So if you had to take a guess, what would you guess would be the consequences for Will Smith here? My guess is he gets to keep his oscar.

They're not going to take his oscar away, which is a consequence and they could implement if I were guessing, they will either ban him for one year from attending the oscars or suspend him for some three to six months period of time from the academy. That's Rachel Phose, a managing partner at Zwibeck, Physe and Coleman, speaking with

the Bloomberg student Gross Soo. Catch more of that interview, plus analysis of the latest legal news by subscribing to the Bloomberg Law podcast or downloading the show at Bloomberg dot com slash podcast. Attorneys can find exceptional legal research and business development tools at Bloomberg law dot com and on the Bloomberg terminal at b Law. Go s and P Future is down thirteen points this morning, Dawn Future is down eight two, nasdack Futures down sixty one, and

Bloomberg day Break continues. This is Bloomberg