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Good morning, I'm John Tucker and I'm Karen Moscow. Here are the stories we're following today, and.
Carol, We're gonna bring you the latest on Terrence and the markets in a moment. But first let's begin with history. At Augusta, Rory McElroy is one of the Masters to complete a career Grand Slam. Get the very latest with Bloomberg Sports reporter John's statshera this morning. And John wasn't easy for Rory.
Yeah, certainly not John. It was one of the most memorable Sundays at the Masters. Perhaps no champion endured such a roller coaster of emotions on the final day. But on the first hole of the playoff with Justin Rose, Rory McElroy stood over a three foot birdie putt.
How's his masterpiece?
That's on CBS. That putt came shortly after McElroy missed a five foot are on the same eighteenth hole that would have won it in regulation. He had earlier blown what was briefly a five shot lead on the back nine. But the green jacket is his, and so is that career Grand Slam. Only the six who have won all four majors. Who was McElroy's first major victory in eleven years. Be back a little later in sports with reaction John Staneshaware, Bloomberg Radio.
All right, sounds good, thanks John, Well. Turning out to the markets and tariffs. The lift in stocks comes after President Trump announced that popular consumer electronics, including phones and laptops, would be exempt from the planned one hundred and twenty five percent tariffs on Chinese goods and ten percent global levies. However, yesterday the President said it's a temporary measure and that a different tariff will be applied to the sector soon.
He spoke to reporters on board Air Force One.
The tariffs will be in place in the non distant future, because, as you.
Know, like we did with steel, like we did with.
Automobiles, like we did with aluminum, which are now fully on, we'll be doing that with semiconductors, with chips and numerous other things that take place in the very near future.
We rate the good semiconductor.
I'm going to be.
Announcing it over the next week.
Any exemptions are a temporary reprieve for companies like Apple. Antstock is at more than five percent this morning, and video broad common inteller at more than two percent. Stick with Bloomberg for the latest on tariffs. We have an exclusive interview at Treasury Secretary Scott Bessant that's at four forty five Wall Street time on Bloomberg Radio, Bloomberg Television, and the Bloomberg Podcast page on YouTube and Karen.
The latest terror posts from the US come as new data shows China's exports search last month. Exports this is in dollar terms far exceeded all for a chasterize twelve point four percent, with a near nine percent rise in goods being sent to the US. So these figures suggest that a lot of companies were front loading orders in March to get ahead of the looming tariffs. The data also reveals that Chinese exports to Southeast Asia reached their second highest level on record.
Well John JP Morgan Asset Management's Bob Michael believes treasuries may have hit their price low and yelled high. He did a robust forign demand and expected fed support. He spoke at Bloomberg yesterday on a special edition of Bloomberg Surveillance.
I think we've seen three soft policy responses. The first came from the administration. You already went through. They gave us a ninety day reprieve. That's fine, and they took some of the tariffs off of electronics for the time being. That's okay. That's backing up. The second came from Congress where the House passed the Senate Budget Resolution, So Congress
in a way gave us something. And then I'm going to say the third is Susan Collins finally sending us home over the weekend saying, yeah, the Fed's watching this. We got this.
And JP Morgan now said Managements Bob Michael's comments come after treasury suffered their biggest slump since two thousand and one last week. Checking treasuries right now, they yield on the ten uere is at four point four six percent, the two year yield three point nine two percent, the thirty year yeld three point eight seven percent. And here the full conversation on the Bloomberg Surveillance podcast feed or watch it on the Bloomberg podcast page on YouTube.
And we're also following the price at gold. Right now, the precious metal is trading at thirty two forty five dollars. An ounce to Wall Street firms also expected to go higher. Goldvin sacks at ubs that you shoued another round of bullish falls for gold was stronger than expended. Central bank demand of the medals role as a hedge against recession
and geopolitical risk. Golblan now sees gold rallying to thirty seven hundred dollars announced by the end of this year, with prices set to hit four thousand dollars announced by mid twenty twenty six.
Well John wall Street also awaits another round of bank earnings. This morning we hear from Goldman Sachs and we again more with the Bloomberg Intelligence. It's Alison Williams.
We're expecting to see trading strength at Goldman Sachs, especially following the strong results that we got from JP Morgan and Morgan Stanley forty five to fifty percent gains at equity trading. We expect Goldman is going to share in these results. They're typically the trading leader in that business. Fees have come in a little bit weaker so far. We expect that Goldvinzachs may tell us a little bit about CEOs wanting to stay on the sidelines given all
of this volatility. So volatility helping trading, it's hurting fees We're also going to be looking at what the bank is doing on its staffing levels. Bloomberg News has reported about potential cuts in the investment banking staffing, and we think that is going to be the truest look in terms of what the bank thinks is going to happen with fees in the months ahead.
And as Allison Williams of Bloomberg Intelligence who says, look for Goldman earnings around seven thirty am Wall Street Time and.
Karen, that brings us to our next story right here on Bloomberg Radio. And the Federal Aviation Administration says the helicopter Tour company who was sight seeing chopper broke apart in flight and crashed in New York, killing the pilot at a family of five visitors from Spain, is shutting down operations immediately. The FAA, in a statement posted on x also said would launch an immediate review of New York Helicopter Tour's operating license and safety record. Set up.
An Arty leader, Schuck Schumer of New York, is calling for tighter restrictions on helicopter companies.
I'm demanding the FAA increased what are called ramp inspections at other helicopter tour companies, a ramp inspection is a surprise inspection they show up unannounced.
Schumer also said other regulations should include limits on aircraft age, greater pilot experience requirements, and stronger financial standards to prevent cost cutting on safety and.
Finally, John Blue Origin is set to launch a high profile all women crew on its flagship space Tourism Rocket later today. It'll be bringing crew members including pop star Katie Perry and Jeff Bezos's fiance Lawrence Sanchez, to the edge of space and back, and Perry preview the flight on a post to Instagram.
I do believe this. I'm not going to say I can't believe I'm here. I do believe this because I think that believing your dreams and saying that is actually how you make your dreams come true.
And the flight is set to launch a nine thirty am New York time from a West Texas and a roughly eleven minute trip for a quick experience of witlessness. The other members on board our CBS's Gail King, producer, carry Ann Flynn, former NASIS scientist Aisha bo and Amanda Wynn, a bioastronautics research scientist and advocate for survivors of sexual violence.
Time now for a look at some of the other stories making news in New York and around the world, and for that we're joined by Bloomberg's Michael Barr Michael, good Morning.
Good Morning Careen. A man is facing charges after authority say he broke into the Pennsylvania governor's mansion over night Sunday, set a fire that left significant damage and forced Governor johsh Shapiro and his family and guests to evacuate the house. And happened during the Jewish holiday of Passover. No injuries were reported, but a significant portion of the mansion was damaged. Later Sunday, Governor Shapiro spoke to reporters.
I'm going to do my best to be your governor and right now to be a good husband and father to my family. Were obviously traumatized by what occurred here last night.
The authorities have identified the suspect as thirty eight year old Cody Bohmer of Harrisburg, and say he was arrested later in the day. The NTSB is investigating another aircraft fatality, this one in a rural part of upstate New York. In Copeke, Columbia County. Over the weekend, a small plane departed from Westchester County Airport, but it crashed in a wooded area. NTSB investigator Albert Nixon shared the last communication the airport had with the pilot before the crash.
The pilot reported and missed approach. He requested vectors for another approach, and as he is being vectored, the radar indicated a low altitude alert.
It is said one of the victims included Corina Groff, who recently was named the NCAA Woman of the Year. Russian missile attacks struck the heart of the Ukrainian city of Sumi as people gathered to celebrate Palm Sunday. Officials say the strike killed at least thirty four people. Ukrainian President Vladimir Zelenski says he wants President Trump to come see how the war has impacted his country before making any major decisions. Amid talk of a potential deal to
end Russia's ongoing war. Come look, and then let's move with the plan how to finish the war.
You will understand with whom you have a deal.
Zelenski spoke to CBS's sixty Minutes Global news twenty four hours a day and whenever you want it with the Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Karen.
All right, Michael Barr, thank you time now for the Bloomberg Sports Update. Here's John stash Hour again. John Giburning, Good morning, Karen.
What a Sunday it was that the Masters. Rory mcclroy was ahead, and then behind, and then back ahead, even at one point by five five shots on the back ninety blew that league got it back with a birdie and near eagle on fifteen. He missed the putt on the last hole that would have won on the Green Jackets after winning eleven years to win a major had to wait a little longer, but he came back on that same eighteen pole in the playoff with Justin Roseen.
This time the putt went in and McElroy's long major draft was over with his first Master's fifty.
You know, there were points in my career where I didn't know if I would have this nice garment over my shoulders. But I didn't make it easy today. I certainly didn't make it easy. I was nervous. It was one of the toughest days I've ever had on the golf course.
Victory completes the career Grand Slam six to have one all four. He joins Gene saraz In, Van Hogan, Jack Nicholas, Gary Player and Tiger Wood. It's the second Master's playoff defeat for Rose, who made a furious charge to get in to Fenny Champ. Scottie Scheffer finished fourth. They at the Stadium, Yankees let the Giants three one sixth any when Jung Whole hit a three line homer. He had hit a solo shot earlier. Both came off Carlos Goudan. Giants won five to four. Yankees have lost four to
the last six. Mets beat the A's and Sacramento eight to nothing. They scored all eight over the last four innings. Gode I Sanga hurld seven score has allowed just four hits. The Nationals lost in Miami eleven to four. Red Sox beat the White Sox three to one. Islanders top the Devils won nothing. The next playoff opener will be Saturday six o'clock at the Garden against Detroit. The Nicks finished
fifty one and thirty one. They sat out their starters still beat the Nets one thirteen to one oh five. The Clippers won at Golden State in overtime. That means the Warriors have to play Memphis and the play in game tomorrow. John Stashiewart Bloomberg Sports kenon.
Johnny Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business opp This is Bloomberg Daybreak.
Hey, good morning, I'm John Tucker. President Trump's applause on terras for certain electronics is only temporary, insisting in his words, that nobody is getting off the hook. What this comes after what sounded like an exemption to the extent we can. We're it's going to get some clarity this morning. We're joined by Bloomberg News Senior editor Bill Ferries. Trade Policy Bill sounds a little ad hot. What do we know for sure?
Well, yeah, I think if you look at what we've been all been through over the last week, the administration is really pushing back on this idea that they're stepping away from this strategy of tariffs, despite having put a pause on those ninety day pause on those reciprocal tariffs that were briefly in place last week and then over the weekend basically saying that they are holding off on one hundred and forty five percent tariffs on a lot
of consumer electronics and other things like that coming in from China. President Trump's saying over the weekend that nobody's off the hook, that he is simply coming up with a different bucket of teriffs that he plants to apply to things with semiconductors and chips in them. So there is a reprieve for companies like let's say, Apple and Samsung and Nvidia that we're bringing in devices with chips, but it's not clear how long of a reprieve they will ultimately get.
Here is this reprieve, if you want to call it that, in the indication that the products may soon be subject to a completely different tarif.
It is, I mean, the way the administration is talking is they're talking about putting this in a different bucket, just like you know they've essentially done with steel and aluminum tariffs, which steel and aluminum imports which face a set tariff coming in automobiles. They've talked about doing something like this with a lumber that comes in largely from Canada having those set up to a separate a separate number basically from the other goods that come in from
the country. Now, we don't know what that number is going to be. Ultimately it would presumably be less than
one hundred and four five percent. Howard Lutnick over the weekend, saying that the administration plans to make an announcement in the Federal Register this week essentially, which would essentially lay out some of the details that are really lacking right now and presumably give a couple months for comments, and of course perhaps lobbying from the different sectors and companies would be affected by it.
So the range right now, as I understand it is the bottom would be ten percent, the top would be one hundred and twenty five percent. So what we're looking at is somewhere in between that going forward for.
This somewhere in between that. But even when you know around it, it's a pretty vast range, and it makes it very hard for you know, companies to make any long term plans. If you're thinking about how many, you know, how many cargo containers you're going to need six months down the road, that's a that's a very difficult thing.
To imagine at this point. But even that ten percent tariff, the flat rate that President Trump has put on, he said that in some cases he may be willing to negotiate over that as well, so it could go lower, either for some countries or some specific companies or sectors. So you know, the clarity has really not increased, although
I think what we've seen for some companies. You think about a company like Apple or Nvidia, for instance, they're certainly breathing a little easier than they were perhaps, you know, ninety six hours ago.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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I'm John Tucker. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg day Break.