Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning. I maybe
Speaker 1: Morris and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: We begin with the intersection of politics and law. Former
Speaker 2: President Donald Trump facing a deadline today to post a
Speaker 2: nine figure bond to appeal is civil fraud judgment in
Speaker 2: New York. Bloomberg's Nathan Hagar with that story.
Speaker 3: Trump has been ordered to post one hundred and twenty
Speaker 3: percent of the four hundred and fifty four million dollar
Speaker 3: verdict against him for inflating his asset values. That amounts
Speaker 3: to a bond of about five hundred and forty five
Speaker 3: million dollars. Last week, the former president told an appeals
Speaker 3: court that amount is unattainable because the insurance companies would
Speaker 3: only take cash as collateral, not real estate. Trump says
Speaker 3: he has almost five hundred million dollars in cash on hand.
Speaker 3: He says he intends to use a substantial amount of
Speaker 3: that on his campaign, which is already spending millions on
Speaker 3: Trump's legal fees. In Washington, I'm Nathan Hager, Bloomberg Radio.
Speaker 1: All right, Nathan, thank you. While staying with politics, the
Speaker 1: US Senate passed legislation over the weekend to avoid a
Speaker 1: partial government shutdown, The Senate cleared the sprawling one point
Speaker 1: two trillion dollar package on a seventy four to twenty
Speaker 1: four vote. Senate Majority Leader Chuck Schumer spoke after the vote.
Speaker 4: It is good for the American people that we have
Speaker 4: reached the bipartisan agreement to complete the job of funding
Speaker 4: the government.
Speaker 1: And it comes after the House passed the bill Friday
Speaker 1: despite stiff opposition from far right Republicans, but striking that
Speaker 1: budget deal triggered a new attempt to remove House Speaker
Speaker 1: Mike Johnson. Former House Speaker Kevin McCarthy, who was removed
Speaker 1: in October, says he does not see the motion picking
Speaker 1: up much traction.
Speaker 5: The one advice I would give to the Conference and
Speaker 5: to the Speaker is do not be fearful of a
Speaker 5: motion to vacate. I do not think they could do
Speaker 5: it again. That was sheerly based on Matt Gates trying
Speaker 5: to stop an ethics complaint. I don't think the Democrats
Speaker 5: will go along with it too.
Speaker 1: And Kevin McCarthy speaking on Face the Nation from CBS,
Speaker 1: which can be heard Sundays on Bloomberg Radio.
Speaker 2: Now, let's turn to the latest on the deadly terror
Speaker 2: attacks in Russia. Russia has charged fore men in connection
Speaker 2: with the Moscow concert hall attack, where at least one
Speaker 2: hundred and thirty seven people were killed. Islamic State has
Speaker 2: taken responsibility for the attack. Putin and other officials have
Speaker 2: made vague claims of involvement from Ukraine. Tony Halpin leads
Speaker 2: Bloomberg Government's coverage of Russia.
Speaker 6: In any normal country, a massacre of this size would
Speaker 6: immediately raise questions about the competence of the security services,
Speaker 6: and there be political demands for heads to roll in
Speaker 6: the leadership. But nothing of that sort is happening in
Speaker 6: Russia because put In, even though he dismissed warnings of
Speaker 6: a terrorist attack just a few days before it actually
Speaker 6: took place, doesn't, of course, want to hold the FSB
Speaker 6: accountable for these failures, and it serves the Russian state's
Speaker 6: purpose to try and blame things on Ukraine because they're
Speaker 6: desperately trying to maintain support for the war, and that's
Speaker 6: raising questions about what they might be planning next.
Speaker 2: Bloomberg's Tony Halpin says the violence was the singlest, big,
Speaker 2: biggest loss of life from a militant assault in Moscow
Speaker 2: since two thousand and two.
Speaker 1: Well, there's new developments amy on the war in the
Speaker 1: Middle East. This morning, Vice President Kamala Harris is warning
Speaker 1: Israel against a major attack on the Gozen, the city
Speaker 1: of a Rafa, that's where more than a million Palestinians
Speaker 1: have sad refuge as the war against Hamas continues. Harris
Speaker 1: spoke on ABC's This Week.
Speaker 7: We've been very clear that it would be a mistake
Speaker 7: to move into Rafa with any type of military operation,
Speaker 7: a mistake, but would there be consequences if he does
Speaker 7: move forward. Well, we're going to take it one step
Speaker 7: at a time, but we've been very clear in terms
Speaker 7: of our perspective on whether or not that should happen.
Speaker 1: And Vice President Harris speaking on ABC's This Week, heard
Speaker 1: Sundays on Bloomberg Radio, Israel says it must send troops
Speaker 1: into Rafa because it's a last remaining bastion of Hamas.
Speaker 1: Israeli intelligence estimates there are around five to eight thousand
Speaker 1: Hamas fighters and group leaders in the city.
Speaker 2: Turning to markets now, US futures are lower, Treasury yields
Speaker 2: are higher. As we begin this new trading week. Bond
Speaker 2: traders are cautiously reloading wagers that burn them. Just a
Speaker 2: few weeks ago, as the FED and other central banks
Speaker 2: appears said to start cutting rates as soon as June.
Speaker 2: We get more from Bloomberg's Mike mackenzie.
Speaker 8: The bomb market has on seven occasions now positioned itself
Speaker 8: with the so called Fed pivot trade, and it's been
Speaker 8: burnt every time because it's just a case of me,
Speaker 8: you've got to get the.
Speaker 3: Timing right on this trade.
Speaker 8: So all signs indicate that central banks, not just the FED,
Speaker 8: but you know, the Bank of England and the European
Speaker 8: Central Bank are looking to do a coordinated sort of
Speaker 8: easying around June, and that really depends on whether the
Speaker 8: data allows them to do it.
Speaker 2: Bloomberg's Mike mackenzie says investors will be eyeing a busy
Speaker 2: week of economic data, including the Fed's preferred inflation gauge
Speaker 2: that's due out on Friday, which, by the way, happens
Speaker 2: to be a market holiday.
Speaker 1: Well, we turn to company news now Amy and more
Speaker 1: details are coming out from Tim cook visit to China.
Speaker 1: The Apple CEO is pitching artificial intelligence as an essential
Speaker 1: tool for businesses committed to reducing carbon footprints. And Cook
Speaker 1: spoke at a forum yesterday in Beijing.
Speaker 9: We would not be able to recover the level of
Speaker 9: material that we do today for recitement without AI. I mean,
Speaker 9: it's already fundamental in our calculation, and I think it
Speaker 9: provides an enormous tool in the toolkit for every company
Speaker 9: that's wishing to be carbon neutral or to lower their
Speaker 9: emissions by substantial amount.
Speaker 1: Apple CEO Tim Cook appeared at the annual China Development
Speaker 1: Forum on Carbon neutrality and climate change. It's part of
Speaker 1: a week of public displays of Apple's commitment to China.
Speaker 2: Staying in Asia. It looks like electric carmaker BYD is
Speaker 2: cutting prices further in China. Bloomberg Daybreak Asia anchor Brian
Speaker 2: Curtis bringing us to tails now from Hong Kong.
Speaker 10: Not only has byd unseated Test the world's top selling
Speaker 10: ev maker, but he has now set its sights on
Speaker 10: Toyota and Volkswagen. These new cuts are some of the
Speaker 10: most aggressive we've seen in China's bruising price war. The
Speaker 10: automaker is discounting almost every electric and hybrid car model itselves.
Speaker 10: Data from the Portal sixteen eight eighty eight dot Com
Speaker 10: shows BYD has cut prices on more than one hundred
Speaker 10: existing model versions. Its most affordable car now sells for
Speaker 10: less than ten thousand US dollars in Hong Kong. Brian Curtis, Bloomberg.
Speaker 1: Radio, All right, Brian, thank you well. Jennet Yellen or
Speaker 1: reportedly visit China next month, Politico is reporting the Treasury
Speaker 1: secretary we'll meet with the country senior leaders. Yellen previously
Speaker 1: travel to Beijing in July. And it's time now for
Speaker 1: a look at some of the other stories making news
Speaker 1: in New York and around the world. And for that
Speaker 1: we're joined by Bloomberg's Michael Barr. Michael, good Morning.
Speaker 11: Good morning, Karon, New Jersey First Lady Tammy Snyder Murphy
Speaker 11: has made a big announcement in her race for the Senate.
Speaker 1: Any busy, invigorating, and yes, challenging months, I am suspending
Speaker 1: my Senate campaign today.
Speaker 11: Bloomberg's Ed Baxter as the story.
Speaker 12: The race is for the seat of Democrat Bob Menendez,
Speaker 12: who's pleated not guilty to federal bribery charges. He said
Speaker 12: he will not run for the Democratic nomination, but did
Speaker 12: leave open an independent candidacy. Murphy says she's been genuine
Speaker 12: and factual throughout, but that it's become clear that the
Speaker 12: campaign would become divisive and negative. She says she's not
Speaker 12: willing to do that. Both she and New Jersey Governor
Speaker 12: Phil Murphy previously worked at Goldman Sachs Ad Baxter Bloomberg Radio.
Speaker 11: New York Mayor Eric Adams canceled a plan trip to
Speaker 11: the US Mexico border over the weekend. According to City Hall,
Speaker 11: there were safety concerns in one of the Mexican cities
Speaker 11: that he planned to visit. As the reason for the change.
Speaker 11: Adams had been invited by executive director of the faith
Speaker 11: based organization Catholic Charities of the Rio Grande Valley to
Speaker 11: meet with her and her team at the southern border.
Speaker 11: The Supreme Court is set to hear oral arguments tomorrow
Speaker 11: in the case centered reducing access to a widely used
Speaker 11: abortion drug. Mifa pristone is usually part of a two
Speaker 11: pill regimen for medication abortion. The question is whether mifa
Speaker 11: pristone can continue to be prescribed and mailed to individuals
Speaker 11: in the same manner as other medications. In legal briefs
Speaker 11: filed with the court, medical professionals call it among the
Speaker 11: most safest medications ever approved by the Food and Drug Administration,
Speaker 11: while the Christian Conservative group suing the agency says the
Speaker 11: drug has led to tens of thousands of emergency complications.
Speaker 11: Liola Law School professor Jessica.
Speaker 1: Levinson in the end, I think the Court will be
Speaker 1: reticent to really undermine the power of the FDA because
Speaker 1: they know this isn't just about MIFA pristone.
Speaker 3: This is also about other drugs.
Speaker 11: Professor Levinson spoke to CBS. Next month, the High Court
Speaker 11: weill way allowing state bans on abortion even when an
Speaker 11: emergency room doctor believes ending of pregnancy would preserve the
Speaker 11: mother's health. Heavy rain and quarter size hail fell in
Speaker 11: southern California, with wind gusts approaching sixty miles an hour
Speaker 11: in the Mountain area over the weekend. In the northeast,
Speaker 11: police reported hundreds of traffic accidents as drivers grappled with
Speaker 11: icy roads. People in New England spent Sunday digging out
Speaker 11: after a major weekend storm that dumped more than two
Speaker 11: feet of snow in some areas. The International Space Station
Speaker 11: is due to welcome to cosmonauts and a US astronaut
Speaker 11: this morning. They begin a six months name global news
Speaker 11: twenty four hours a day and whenever you want it
Speaker 11: with the Bloomberg News. Now, I'm Michael Barr, and this
Speaker 11: is Bloomberg Karen.
Speaker 1: All right, Michael Barr, thank you. It's time now for
Speaker 1: the Bloomberg Spores Update with John stash Hour.
Speaker 4: John, good morning, Good morning, Karen's really some first round
Speaker 4: surprises in the NCAA tournament, but things win much more
Speaker 4: according to Foreman, Round two and the tourney heads of
Speaker 4: the sweet sixteen with all the one seeds, all the
Speaker 4: two still alive. Defennanch champion Yukon very much alive. Huskies
Speaker 4: keep winning easily. At Barclay's. They led Northwestern forty to
Speaker 4: eighteen at halftime, went on to win seventy five fifty eight.
Speaker 4: Yukon's now won eight consecutive NCAA games, all by thirteen
Speaker 4: and more points. The coach is Dan Hurley, that.
Speaker 13: We're bulletproof, you know again, elite offense, elite defense, you know.
Speaker 13: Didn't love the offensive rebounding today and didn't love the
Speaker 13: second half defensive rebounding, you know, but again, twenty assists,
Speaker 13: seven turnovers. One player had fourteen fourteen and eight point.
Speaker 13: Court had twenty and ten. You know it's tough to
Speaker 13: lose when you have that level of quality.
Speaker 4: Yukon now heads the Boston to play a rematch of
Speaker 4: last year's title game with San Diego State. The last
Speaker 4: nine one easily over Yale. Perdue won by thirty nine
Speaker 4: over Utah State. Nothing easy about Houston's win. Texas A
Speaker 4: and M down twelve with two minutes left in regulation,
Speaker 4: hit a three pointer at the buzzer to force overtime.
Speaker 4: The Cougars, top seeds in the South, pulled out to
Speaker 4: win one hundred to ninety five. NBA Miami be Cleveland
Speaker 4: by thirty seven. At the next FET, the lowly Piston
Speaker 4: Sun at the guard Nick's will move into a tie
Speaker 4: for third with the Cats, Devils, and Islanders, both trying
Speaker 4: to work their way into the playoffs. They met at Ubs.
Speaker 4: Devil's won four nothing, the Capitals won three nothing. Some
Speaker 4: of the Yankees still in Florida, like Marcus Stroman. He
Speaker 4: pitched six scoreless innings. There's a game today with the Mets.
Speaker 4: The others are in Mexico a four to three losses.
Speaker 4: Forty one year old x Yankee Robinson Cano had three
Speaker 4: hits with a home run of the game with that
Speaker 4: Mexican team today, and then everyone goes to Houston for
Speaker 4: Thursday's opener.
Speaker 11: The Dodgers are back from Korea.
Speaker 4: Today's show, Hey Otani meets the media to answer questions
Speaker 4: about his former interpreter accused of stealing millions from him.
Speaker 4: Georgia's starting running back Trevor at In arrested for dui.
Speaker 4: John Stashewer Bloomberg Sports.
Speaker 14: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 14: and around the world on Bloomberg dot Com and the
Speaker 14: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 2: Today is the deadline for Donald Trump. He has to
Speaker 2: post bond to cover a four hundred and fifty four
Speaker 2: million dollars civil fraud verdict or risk having New York
Speaker 2: State start the process of seizing his assets. We begin
Speaker 2: with that story when we welcome in Terry Haynes, the
Speaker 2: founder of Pangaea Policy. Terry tell us what's going to
Speaker 2: happen today with Donald Trump?
Speaker 15: Sixty four dollars? Question, isn't it Amy? Good morning? You know,
Speaker 15: I bet that what happens is a little bit you know.
Speaker 15: James has two paths here. Basically, one is to start
Speaker 15: seizing assets. The other one is to wait for appeal.
Speaker 15: My instinct is she does a little bit of both. Frankly,
Speaker 15: that she takes something as a as kind of a hostage.
Speaker 15: But I don't know whether it's a big splash place
Speaker 15: like Trump Tower itself or smaller maybe a hotel, but
Speaker 15: you know, takes something and meanwhile awaits the outcome of
Speaker 15: the appeal. The problem for James is that the is
Speaker 15: that this very process where you've got to post a
Speaker 15: bond of one hundred percent or more, uh, just to
Speaker 15: appeal is is draconian. And if this gets into certainly
Speaker 15: into a federal court, I'd bet I'd bet it gets
Speaker 15: struck down. So she actually has to proceed a lot
Speaker 15: more carefully than her rhetoric indicates.
Speaker 2: How does this impact has been for the presidency?
Speaker 15: You know, I think, as you all say on this channel, uh,
Speaker 15: I think that I think that this is largely priced in.
Speaker 15: You know wrote the uh. You know, those who are
Speaker 15: outraged will be outraged, those who aren't, and you know,
Speaker 15: wishing Meal will be And it doesn't convince anybody else.
Speaker 15: They know it's uh uh, they know it's a bad situation.
Speaker 15: But are they going to be swayed one way or
Speaker 15: the other. Uh. I doubt it, particularly compared to what
Speaker 15: the hot button issues are and everything I get from
Speaker 15: talking to people who are in the political field. I mean, actually,
Speaker 15: you know, talking to voters, you know on the ground, UH,
Speaker 15: is that the economy and border security remain by far
Speaker 15: the top two issues. So I think this is spice
Speaker 15: one way or the other.
Speaker 2: Let's shift gears end. At Capitol Hill, the House and
Speaker 2: Senate passed that spending bill. President Biden signed it into
Speaker 2: law early Saturday. What does this bill do? I mean,
Speaker 2: when do we see another shut down countdown?
Speaker 15: Well, you won't. You feel good or bad about this,
Speaker 15: It's up to you. But if you won't until basically
Speaker 15: the first of October, spending now is done until the
Speaker 15: end of the fiscal year, which comes the first of October.
Speaker 15: I think largely what you'll see pre and post election,
Speaker 15: so roughly until the end of the calendar year is
Speaker 15: Congress kicking the can and essentially saying, look, you know,
Speaker 15: the outcome of the election is good to determine what
Speaker 15: spending is. But markets should make no mistake. You know,
Speaker 15: markets have largely priced the sort of the performative stuff
Speaker 15: in as well anyway. But markets should make no mistake,
Speaker 15: is not going to be any any major change in
Speaker 15: spending no matter who wins the election, and the debt
Speaker 15: and defsit problems that exists will continue to exist, so
Speaker 15: you know, net, it's not going to matter very much.
Speaker 2: We got about a minute left here. Some far right
Speaker 2: Republicans not at all happy at House Speaker Mike Johnson
Speaker 2: even allowed this to come up for a vote at all,
Speaker 2: So what does his future look like?
Speaker 15: You know? I bet he, I bet he sticks. The
Speaker 15: Congresswoman Green's motion is out there but is not triggered,
Speaker 15: so it's She expresses disappointment with what Johnson did on spending.
Speaker 15: But you know, this is also the kind of performative
Speaker 15: cowardice that makes Washington what it is today. She expresses,
Speaker 15: the you know, tries to pull the trigger after the
Speaker 15: deed is done, so that tells you everything you need
Speaker 15: to know. It also is designed to perform some kind
Speaker 15: of a block on Ukraine voting, but I think that
Speaker 15: it probably gives centrists in both parties, who are already
Speaker 15: trying to rally here more gas to actually try to
Speaker 15: get something on Ukraine done. So I'd watch that space
Speaker 15: I've said that, I think it makes so a little
Speaker 15: more likely that happens.
Speaker 2: You are listening to Bloomberg Daybreak today, your morning brief
Speaker 2: on the stories making news from Wall Street to Washington
Speaker 2: and beyond.
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Speaker 2: Xmthiheartradio app, and on Bloomberg dot Com. I'm Amy Morris.
Speaker 3: And I'm Karen Moscow.
Speaker 1: Join us again tomorrow morning for all the news you
Speaker 1: need to start your day, right here on Bloomberg Daybreak