19 Burst results for "Anna Palmer"
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"Or so, it's a relatively calm Monday morning. It would appear that way, but things can change pretty rapidly in this environment. We know that from past experience, I think it's fair to say that markets are still trying to gauge the severity of what appears to be an impending recession, look at U.S. yields we were lower across the curve Friday here in the U.S. at the short and the two year down 7 basis points at three 76, so in about what two hours time we'll get trading underway in Tokyo and that's when trading in U.S. sovereign debt will resume the ten year was down about four basis points in New York Friday to three 72. And when you look at the high yield market, it's really still very difficult for some of these companies to tap given a lot of the uncertainties around the bank situation. We had equities reversing losses in the last session, signs here in the states that may be the government could backstop the banks. It was last Friday morning treasury secretary Yellen convened an unscheduled private meaning of the financial stability oversight council and then you look at the market reaction. We had the regional banks climbing with the KV W regional bank index up nearly 3%. Crude oil was weak on Friday, but if you step back and look at the 5 trading days of last week, WTI was up about 3.4%. We finished the week right above 69. We're making gains right now in the electronic session 69 65. The European gas conference will kick off in Vienna on Monday and later today, China will issue industrial profits data and then for Japan, its PPI services and Brian, as you know, Hong Kong trade data later. Yeah, going to be a busy day. Let's get to the top stories now. Minneapolis fed president Neil kashkari saying the recent bank turmoil has increased the risk of a U.S. recession. Here's kashkari speaking on CBS face the nation program. Right now, what's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch would then slow down the economy. This is something we are monitoring very, very closely. That's Neil kashkari, heard right here on Bloomberg, kashkari said that the U.S. banking system is sound and banks have strong capital positions and a lot of liquidity. But he added that he will take some time for the current problems to fully work themselves out. Kashkari also thinks it's too soon to judge what the bank crisis means for the economy and for monetary policy. The fed will meet next on the 2nd of May. Meantime we are hearing U.S. authorities are making moves to help all banks, this would include first republic. That story from Bloomberg's is Anna Palmer. Our source says authorities are considering expanding an emergency lending facility for banks in ways that would give first republic bank more time to shore up its balance sheet. Officials have yet to decide on what support they could provide first republic, if any, and an expansion of the Federal Reserve's offering is one of several options under consideration, even short of that step watchdog C first republic is stable enough to operate without any immediate intervention as the company and its advisers try to work out a deal to shore up the balance sheet, representatives for the fed, FDIC and first republic declined to comment. Susanna Palmer Bloomberg daybreak Asia. Former treasury secretary, Larry summers wants U.S. regulators to pledge that they'll back uninsured deposits in any banks that fail. Some are said that this would provide very substantial confidence to the banking system. They can do that within their existing authorities, simply by being clear that in the event of failures given the highly fevered environment with respect to contagion right now, they are prepared to use systemic risk exemptions to allow the FDIC to pay off depositors with assurance that those funds will come from the banking industry. Summer is also said that officials should recognize that regulation now needs to take account of the digital banking and high interest rates that exist because he says that's a condition where deposits can shift much faster than in the past. We are hearing two banks are both vying for what's left of Silicon Valley bank. They are valley national bank corp and first Citizens Bank shares. SVB collapsed earlier this month and then was seized by the FDIC. We are told these two regional banks admitted separate bids before a deadline last Friday. Now the FDIC has been seeking to sell SVB for about two weeks now, a winner could be chosen before the end of the weekend. No final decision has been made and the FDIC could decide to hold on to SVB or sell it to someone else, right? And to another troubled bank, Credit Suisse may face a probe and disciplinary action over how the bank was run in the lead up to its collapse and its eventual takeover by UBS. That story from Bloomberg's given man. The Swiss banking regulator finma told a Swiss German newspaper that Credit Suisse has a cultural problem that problem translated into a lack of accountability. Finma president Marlene anstead said it is not clear who was responsible for what policies and that led to a negligent handling of risks. She said disciplinary proceedings remain an open question then my husband accused of failing to act early enough and said it denied that, saying, quote, we intervened early and intensively. In Hong Kong, I'm Yvonne Mann, Bloomberg, daybreak Asia. I'm Brian Curtis, along with Doug prisoner Doug. You know there's a pretty big gap between what the equity markets are doing with the news flow that appears to be screaming at us. We're taught to respect the price action. But it may be odd to some that the S&P 500 was actually up last week. It's slightly up for the year and is still right in the middle of a range of 3800 to 4200 that we've been in for about ten months. And I would argue as well that the ten year treasury is also at about the same level that it was in September. So even though, I mean, the real volatility is at the short end of the curve. And that's as investors try to price out this terminal rate, and that one has been moving. And we have seen a lot of strength, I think you'll agree with this, Brian, in the tech space, big beneficiary, kind of a haven bit I would argue, especially when you consider that some of these companies have very strong cash balance sheets or cash positions on their balance sheets and in a time like this where there's so much turbulence, so much uncertainty, particularly as it relates to the banks, tech has become a bit of a safe haven. And I think that makes the fed's job a little easier because you can imagine how difficult it might be for the Federal Reserve to be continuing to raise interest rates if you had the S&P 500 falling 2% every day. I wanted to mention as well that you probably pick up on this line from Neil kashkari as I did where he said that he will take time for the current problems to work themselves out. If only they would work themselves out. Well, and I think that's what Janet Yellen is trying to do by sending the message to the market that the government in some shape or some form has the back of some of these banks. That would help to engender a bit of confidence, but on the inflation side it's going to be very interesting to see what happens in the U.S. at the end of the week with that personal consumption expenditures price index. It really may put the fed in an even more difficult situation with the volatility and the concern about the financial system on one hand and this upward pressure that remains
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"Going to be the first opportunity for markets in Asia to react to a bit of a move up in yields right across the treasury curve that occurred last Friday when the government revised the monthly CPI figure a little higher. So we've got a two year now at around four 51 a ten year that was up. A little more than 7 basis points to three 73. Now, when it comes to U.S. inflation, we're going to learn a lot more in the week ahead and we'll take a closer look at that for you momentarily. Last Friday here in the U.S. we heard from the head of the Philly fed pat harker he was saying the odds of the fed being able to control inflation without triggering a recession are growing. So is The Wall Street Journal put it. Maybe the issue is not hard or soft landing. There is a third scenario that seemed very improbable just a few weeks ago. An economic growth upturn. We had to make the picture for stocks in the states on Friday, Dow was up a half of 1%. The S&P gains two tenths of 1%, but the NASDAQ composite was down around 6 tenths of 1%, a busy week for earnings a closer look at that momentarily, and a big move higher in crude oil after Russia announced plans to cut production next month. This is in retaliation for those price caps, WTI was up more than 2% Brian in the electronic session now. We're trading about 79 60. All right, Doug, thanks very much. Japanese prime minister fumio kishida seems to have chosen an outsider as the next governor at the bank of Japan. We're told economists and former BOJ board member kazuo ueda is said to be nominated tomorrow our time. Earlier, the Nike had reported that the leading candidate deputy governor masayoshi amamiya had refused to take the post. Here's Bloomberg's Kathleen Hayes. Right now you kind of have to guess. Is he going to be more hawkish as that why they taking over instead of someone else? Or is he going to be dovish? When he was approached by reporters, just in the last couple of days, he said the current policy is appropriate. I read it to you now and monetary easing needs to be continued at this point. He is also said policy of you should be done at some point. He also has said recently in an article that the DoJ is far from achieving 2% inflation that sustainable and retired to avoid a weekend, but just leave the economic deterioration. The N initially rose to the strong side of one 30 against the dollar on media reports of U 8 is selection. Markets viewed him as more hawkish than amamiya, but those gains were trimmed after ue to said that the BOJ stimulus should stay in place. We've got a lot more for markets to digest in the coming week, including the latest readings on U.S. inflation. We have more from Bloomberg says Anna Palmer. The consumer price index comes out on Tuesday with economists predicting the prices of goods and services likely rose last month, a development that would point to Federal Reserve policy makers needing to do more to lower inflation. Economists surveyed by Bloomberg are forecasting the CPI will have increased by a half percent month over month in January, and the core CPI excluding food and energy rose four tenths of 1%. While the monthly CPI figure likely rose in January, the annual headline number is projected to have come down to 6.2% from 6 and a half percent. The prior month. Susanna Palmer Bloomberg daybreak Asia. And beyond the inflation data, there'll be an abundance of earnings to sift through. We have a preview from Bloomberg's Charlie pellet. We'll be hearing from companies over a wide range of industries amid anxiety over rising interest rates and inflation, Emily Rowland is co chief investment strategist at JH investments. We think this is going to be a top environment for companies going forward, costs are elevated, especially the cost of capital, having risen a lot. That is yet to be absorbed and top line growth slowing meaningfully as consumer start to retrench companies have too much stuff. We think there's going to be a major war on margins in 2023. Among the companies reporting this week, Airbnb, analog devices, AIG, Applied Materials, Cisco Systems, Coca-Cola, and Zillow. In New York, Charlie pellet, Bloomberg, daybreak, Asia. Senate lawmakers have revived legislation to ban TikTok in the U.S., the concern is over data collected by this app ending up in the hands of the Chinese Communist Party. Now, a similar measure failed in the last Congress, this latest move is likely to prompt opposition not only from the tech lobby, but millions of mostly young users on this platform, here is Senate majority leader Chuck Schumer. It's something that should be looked at. We do know there's Chinese ownership of the company that owns TikTok and so there are some people in the commerce committee that are looking into that right now. We'll see, we'll see where they come out. Senate majority leader Chuck Schumer on ABC's this week heard earlier here on Bloomberg radio. By the way, the CEO of TikTok is especially or he is due to a pure I should say before the House energy and commerce committee on March 23rd. Bill ackman's Pershing square holdings is said to be considering a possible listing in New York, currently the company trades in London and Amsterdam. By listing in the United States, he would allow Pershing to market shares directly to American investors. The Sunday Times reports the move could help Persian close the discount at which it shares trade compared to its net assets. Ackman had also floated this idea last summer of Pershing listing in the United States. We have Walter Todd coming up in a few moments, president and chief investment officer at managing director at Greenwood, capital, and among the things we might be talking about, Doug is interesting here to see an outsider possibly taking the helm at the bank of Japan, and if not really hawkish, maybe a hawkish tilt is still in the guards. Clearly an academic former treasury secretary Larry summers was telling our David western on a Bloomberg Wall Street week. That he is very much Japan's Ben Bernanke, so as the BOJ looks for a way to unwind this ultra easy monetary policy that it has had now for decades. Maybe he's the guy to do it. Yeah, and looking at inflation in the United States because everybody in the world over is really thinking about inflation these days, even there in Tokyo. But I was amazed to see that BlackRock sees the pace of inflation, hovering around three and a half percent for the next 5 years. And you remember how I responded or reacted to John Williams comment last week that the fed needed to get above 5%, keep it up there for years. He said a few years. I thought he would be scolded by the chair of the fed, but he may well have, but we don't know. Well, pat harker was saying on Friday that the key rate, the fed funds rate needs to get above 5% and stay there, stay there. So I think they realize that it's going to take a lot to get price pressures under control. And to this point, alliance Bernstein makes this point that although inflation is moderating, that investors shouldn't be betting on that. They are underestimating the structural changes that we have seen to higher levels of inflation that are sticky changes brought by de globalization and labor shortages. And BlackRock and pimco also say it's no time to ditch inflation linked debt. Particularly in the
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"IHeartRadio ad. Tune in. The Bloomberg business app and Bloomberg dot com. This is a Bloomberg money minute, consumers may be concerned about inflation and the prospects of a looming recession, but it did not hurt holiday spending. It ends up being a pretty solid season. Katie Thomas is with the Carney consumer institute. So while consumers are certainly feeling the impact of inflation on their wallet, where they're feeling it is sort of where you'd expect it, which is in gas and in food groceries, going out to eat to some capacity. When it comes to gifting in holiday seasons, they really like to still spend. But with the new year, there are questions about just what people will be spending on and how that could affect retailers. Economists Gus fascists with PNC Financial Services. Generally, what we see is consumers shifting from goods because we bought a lot of goods over the past few years. Towards services. And with inflation weary shoppers holding back on spending that could damp the retail outlook in the new year. I'm Charlie palette Bloomberg radio. And I Denise Pellegrini in the Bloomberg newsroom, some good news if you're planning a road trip. After a tumultuous year for gasoline prices, some relief may finally be on the way. We get more from Bloomberg's Charlie pellet. According to gas buddies, 2023 fuel outlook, the yearly national average price of gasoline is forecast to drop nearly 50 cents per gallon from that of 2022 to $3 49 cents. Gas buddy says continuing improvement in refining capacity will help alleviate gasoline and diesel prices, though high levels of uncertainty remain amidst Russia's ongoing war on Ukraine. Charlie palette Bloomberg radio. All right, thank you, Charlie. That could help ease inflation a bit investors is coming week. Also keeping a close eye on the December employment report coming out Friday. Bloomberg says Anna Palmer has more on that part of our inflation story. Economists surveyed by Bloomberg are forecasting 200,000 jobs will have been added to payrolls in December. That would be down from 263,000 added in November. While 200,000 would mark a slowdown from the prior month that pace of job growth still points to solid hiring and a pretty robust labor market overall. Economists are forecasting the unemployment rate will have stayed at 3.7%. All right, thank you, Susanna. And that report also likely to show hourly wages jump 5% in December from a year ago, showing inflationary forces are still with us. And Jeanette Garrett, chief economist at Robertson, Stephen says don't take your eye on those jobs reports for this entire quarter. Maybe the most interesting month is going to be in January because that's when the decisions of businesses to cut labor force really will come into play. So we'll see. I'm guaranteed with us there on Bloomberg radio. The fed widely expected to hike rates a quarter point at its February open market committee meeting. As we've been reporting President Biden resolving to strike a bipartisan tone in 2023, the president will be in Kentucky this coming week with Republican Senate minority leader Mitch McConnell, promoting the president's new infrastructure law, and there'll be announcing a new major project funded by that law. Overseas China's leader Xi Jinping warding of more challenges ahead as the country lifts COVID lockdowns, new date out of China over the weekend showing the economy weakening in December. At a North Korea, Kim Jong-un vowing to increase nuclear arsenal to deal with South Korea and the U.S., Kim also announcing a shake up, replacing his party secretary and also defense minister. And Twitter facing a new lawsuit for failing to pay more than a $130,000 in rent in San Francisco. The New York Times says Twitter hasn't paid rent on its headquarters in weeks as it tries to renegotiate runs for its office space globally under new owner Elon Musk. A couple of news, 24 hours a day. On air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than a 120 countries. In the newsroom, I'm Denise Pellegrini. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the balance of power podcast, a conversation with doctor Asha sha of Stamford health about what we can expect from COVID in the new year. Yeah, unfortunately, as each new booster comes out and be recommendations come out, I think some of these things get a little bit more confusing but the bottom line is now that there is only one booster available came out in September. It's changed from the original formulation of the COVID shot and that it covers the omicron variants that are circulating in the community. So it is recommended to get that updated booster to be up to date and to protect folks from getting severely ill from the COVID strains that are circulating right now. One of the things that we've seen some evidence of is shortage of some medications. I mean, internationally, antibiotics as I understand it are short. We also have some flu medications that are short. And maybe even some over the counter. Correct. So we have been hearing reports of local areas that have shortages of Tamiflu, which is the antiviral medication that is used to treat influenza. However, there's not nationally a shortage. What we do recommend for physicians and practitioners is to use those antiviral medications and reserve them for individuals who are at severe at risk for severe disease from influenza. So those that have other medical conditions, lung conditions for conditions, we also give Tamiflu to everyone that's hospitalized with influenza as well. There has been a shortage of amoxicillin, which is a common antibiotic use, especially in the pediatric population. Again, because of the increase in respiratory viruses that we've been seeing in children and then those children being prone to getting bacterial infections
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"Lewis cost global training and turnkey custody solutions, no ticket charges and no conflicts of your interest at IBKR dot com slash RIA state by the Brian having a look at the prospects of this brand new trading week. Well, and a warm embrace to all of those who are not out at the barbecues. This evening on the east coast of the United States and listening, you'll be a step ahead. Let's take a look at what we're seeing here in Asia. Equity futures are actually feeding off what turned out to be a surprisingly positive session on Wall Street on Friday, but will it continue? That's a big question this morning. Treasury surged on Friday as week data in the U.S. added to recession fears, yields dropped precipitously. We got the yield on the ten year treasure down to 2.88% and the two year down to 2.83%. Now, that may cheer some investors as the thinking might be that the latest action on data will clip the wings of the fed to a certain extent, but the bottom line is the data suggests a lot less momentum for U.S. consumption and the overall economy. The dollar was up about a third of a percent in that session and oil rebounded as well. And you heard in our headline that Chinese developers sure mouth didn't make bond payment. So we have that to deal with in Asia today and also more COVID cases on the rise in China. So that may color some of the trading. All that said, nikkei futures are up some 400 points above the cash close on Friday Hangzhou index futures are flat. We'll come back from the holiday today and flip to China a 50s or up about four tenths of 1%. So it could be an interesting session all the way around. Gold pretty steady here, a little higher, 18, ten ounce, three shot. All right, well let's have a look at emerging markets as they brace themselves for an American recession and may even be able to lure investors in their direction. Bloomberg says this is Anna Palmer explains. That's the message from money managers including JPMorgan Chase and Deutsche Bank AG. This even as fears of a contraction in the world's largest economy spark a Russian to treasury is another haven assets. Beyond the short term turbulence, they say developing nations will be cushioned by cheap valuations higher yields faster growth and above all, a resurgent China. Susanna Palmer Bloomberg daybreak Asia. Well, Chinese developer sherma, as you mentioned, failed to pay a $1 billion note that matured on Sunday. That's according to a filing to the Hong Kong stock exchange. In addition, the builder said that it hasn't made principal payments involving some other offshore debt. The company said that it has been in discussion with creditors while trying to reach a resolution. However, if that fails, Sherman says creditors may have the right to demand acceleration of repayment and take enforcement actions. We have Christina Cooper coming up in a few moments, chief global market strategist at invesco advisers, the time now four minutes past the hour. Well, let's have a look at Australia's prime minister Anthony albanese. He's met face to face with Ukraine's president of Vladimir zelensky and has promised more military aid. Let's get into San Francisco. At Baxter. As global news, exactly resta, small town outside of Kyiv, albanese says damage is absolutely
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"To the south. And we are looking at lots of spots near 100° if not over 100° Minneapolis 100 today. It's going to feel like one O 6. COVID shots could be available for children 5 and under as soon as tomorrow the CDC signed off on the recommendation Saturday the decision clears the way for nearly 2 million children in the U.S. to get vaccinated. I'm Michael castner. And I'm Denise Pellegrini in the Bloomberg newsroom. More flight delays for travelers in the U.S. today. JetBlue CEO Robin Hayes says labor shortages are still an issue. The aviation industry is such a finely tuned machine that when you don't have all the right resources and all the right places at the right time, it couldn't get challenged very quickly. He's also says that's why JetBlue scaled back flights earlier this year. At the same time, Hayes tells us JetBlue now has access to a second permanent slot at London's Heathrow. Stocks in London are a higher and stocks across the board are higher pretty much as well. London Switzer up about 1% cac and Paris up more than a tenth of a percent and the Dax up about four tenths of a percent. Bitcoin hovering above 20,000 this hour, after bouncing back from below $18,000 of Bitcoin on Saturday. And treasury secretary Janet Yellen says the fed can engineer a soft landing for the U.S. economy, even as it continues to hike interest rates. We expect to transition to steady and stable growth. But I don't think a recession is inevitable. And Yellen on ABC's this week heard here on Bloomberg radio. But chair Jerome Powell, likely to get grilled about inflation and recession risks when he testifies on Capitol Hill this coming week. Inflation taking a toll on infrastructure projects across the U.S., more on that from Bloomberg since Anna Palmer. Rising prices for materials such as asphalt steel and iron pipes are driving up the costs to build roads, bridges, rail lines, and water mains, state and local officials say inflation is eating into the value of the $1 trillion federal infrastructure law signed by president Joe Biden just 7 months ago. Some officials say inflation has forced them to delay or to scale back the scope of projects. Thank you, Susanna. And global news 24 hours a day. On air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries. In the newsroom I'm Denise Pellegrini. This is Bloomberg. Broadcasting live from the Bloomberg interactive broker studio in New York. Bloomberg 11 three O to Washington D.C. Bloomberg 99 one to Boston, Bloomberg
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"Bloomberg daybreak Asia It's 7 30 Monday morning in Hong Kong 9 30 here in Sydney I'm Paul Allen And I'm Doug Krishna at the Bloomberg interactive broker studio in New York at the top of the hour we'll kick off a new trading week in Tokyo Sydney and Seoul Chicago Nike futures imply a move higher for the Japanese equity market given a lot of weakness in the yen where the dollar is concerned We'll take a closer look when Brian Curtis joins us momentarily right now a few of the sours top isn't stories Bitcoin staged a modest recovery to about 30,000 on Sunday last week the largest cryptocurrency slumped after the stablecoin Terra USD collapsed Bloomberg's Sue Keenan says the recovery shows Bitcoin's resiliency Past crashes notably the crypto winter back in 2018 saw Bitcoin taking months if not years to see a bounce back And yet now we're already back in the green and market observers say a big difference we're seeing in this brisk bounce back if you want to call it Is that there are a lot more institutional investors and they see this pullback as a buying opportunity Bitcoin right now trading 31,135 Elon Musk is considering a visit to Indonesia to explore investment opportunities there We have more from Bloomberg's Anna Palmer Musk met yesterday with Indonesia's president at the SpaceX site in Boca chica Texas and got the invite during that meeting Indonesia home to some of the world's largest deposits of copper nickel and tin touts its abundance of natural resources to lure billions of dollars of foreign investors money The government has held talks on potential partnerships with Musk's teams over the last several years Musk is currently in a $44 billion takeover bid for Twitter though that transaction may be in doubt after he said Friday his offer was temporarily on hold He still maintained he is still committed to the deal Susanna Palmer Bloomberg daybreak Asia Olson has agreed to sell its Indian operations to local billionaire got him adani the Swiss company will sell its 63% stake in Mumbai listed ambuja cement to the adani group adani says it plans to spend about 10.5 billion on the deal It gives Asia's richest person a foothold in the subcontinent's fragmented cement sector We hear wholesome expects to receive 6.4 billion of cash proceeds from the sale Saudi Aramco reported net income rose nearly $40 billion in the first quarter That's up 82% from last year Aramco has benefited this year from the price of oil climbing about 45% with Russia's invasion of Ukraine It's also been impacted positively from Saudi Arabia gradually increasing production along with other members of OPEC plus last week you might recall Aramco surpassed Apple to become the world's most valuable company on Sunday The kingdom shares were up more than 4% Well we're a little under 30 minutes away from the market open here in Australia markets about to open all around Asia for a closer look at what to expect Let's get over Brian Curtis Brian Paul thanks very much the numbers look pretty good here in the early going SBE minis up four tenths of a percent Earlier contracts had traded higher like the Hank sang index futures contract up more than 1% FTSE China a 50s last traded with gains of about 6 tenths of a percent and then in case poised for a big gain at the open two maybe a little more than 300 points Sentiment seems to have stabilized in various sectors of the market not least of which in cryptocurrencies as you guys just mentioned Bitcoin held on to a weekend advance and at the moment is trading up over 31,100 and that's a gain through the weekend and into Monday morning Maybe just a little bit of relief overall from the big stock market route that we've seen We don't know how sustainable it is We'll be looking at the bond market right now yields on the ten year at 2.91% after those last trades on Friday Some good news if you're looking for stimulus the PBOC effectively cut the interest rate on new mortgages in China over the weekend looking at first time home buyers and trying to lift the housing market analysts are divided though on whether the Central Bank will cut the rate on one year policy loans today The weaker than expected credit data that we saw in Friday that was for credit in April That weak performance is indicative of the shock that we've seen in the Chinese economy from the lockdowns in Shanghai and other cities and the huge effect on the economy Because listen to this the headline number was about as bad as the one back in February of 2020 When a nationwide lockdown was in effect for part of the beginning of the pandemic Right now some of the numbers for you elsewhere we've got the C and H the offshore Chinese currency trading at 6 79 54 so just grinding back a little bit of strength from the 6 83 levels that we saw on Friday WTI is at one 1123 and right now the Bloomberg commodity index with gains of 9 tenths of a percent Paul back over to you All right thanks very much Brian It is now 35 minutes past the hour and time for a chick of global news We have to be Pellegrini is in the Bloomberg newsroom Denise All right thank you Paul Well let's start with Finland and what's going on with Finland trying to join NATO because of what's going on in Ukraine Finland's prime minister joining with that country's president.
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"A top UN official says there is no question that food is being used as a weapon of war in Ukraine We've seen food depots that have been blown away I've seen places where there's nothing in the warehouses but food And that's not even admirable Appearing on CBS's face the nation World Food Program executive director David Beasley also said that he's not confident the program will be able to keep food supply lines open amid the ongoing Russian invasion He said that not only are Russian forces denying access to battered cities like Mario pole fighting in the donbas region will have a huge global impact on the food supply Beasley explained that Ukraine usually grows enough food to feed 400 million people around the world He warned food costs could soar as much as 200% in countries like Syria if the conflict continues Two juveniles are dead and at least 11 are injured after a shooting in Pittsburgh investigators say the incident took place at a party of over 200 people at an Airbnb with many underage as many as 50 rounds were fired inside with guests jumping out of windows and suffering lacerations and broken bones I'm Chris And I've done these Pellegrini in the Bloomberg newsroom U.S. stock futures are putting to a lower open on Wall Street the NASDAQ could see the worst pressure when U.S. trading resumes tomorrow Japanese stocks don't just about 1% this hour In South Korea the hang seng is trading higher We're waiting for the open in China Could see some fireworks there Shanghai is officially reporting its first deaths from COVID in the country in two years three deaths being reported small number of tragic of course and this opens the door for more reports of deaths to come in in China The PBOC delivered a smaller than expected easing on Friday The government is reporting a slew of economic data today We're watching all that for you here At markets in Australia and Hong Kong are closed today New Zealand as well U.S. natural gas is just slumped to a 13 year high in early Asian trading That's as the global supply crunch intensifies Jerome Powell may be about to seal a deal On a half point rate hike more on that for Bloomberg since Anna Palmer Powell may be about to reinforce bets the Federal Reserve will raise interest rates by a half point next month He's scheduled to speak at an event on Thursday and then later that day at a panel hosted by the IMF This could be the last we hear from him for a while The pre FOMC meeting blackout period starts midnight Friday Powell has already said a 50 basis point increase is possible at the fed's may 3rd and fourth meeting Comments by colleagues since then have hardened expectations the fed is tilting more hawkish Susanna Palmer Bloomberg radio Thank you Susanna And Goldman Sachs says it sees a 35% chance the U.S. slips into a recession within the next two years Goldman focusing on the difficulty it thinks the fed is facing in battling inflation as it tries to engineer a soft landing for the U.S. economy They'll believe it's 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries In the newsroom I'm Denise Pellegrini This is Bloomberg.
MSNBC Morning Joe
"anna palmer" Discussed on MSNBC Morning Joe
"Also said he wanted to pass a measure that would strip the legislation pay prevent them from being paid because of what they're doing here but this does feel like the under cards right for the main event which is going to be the federal legislation. John lewis voting rights act other measures. The congress is supposed to take up likely later this summer. And that is we know that is going to be an extraordinary important moment. And both sides aircrafts. Republicans are girding up for it mitch. Mcconnell mitch. mcconnell was in committee. Doing committee work a few weeks ago. On this str- speaking out against the idea of expanding voting rights which shows you how seriously he and other republicans are taking this and that's also partially why this president who is knows about from his time in the senate knows about the sequencing of legislation is trying to do everything else. I try to infrastructure. I ahead of whether because they know how the pitch battle will be over voting rights. There's a hop hope there can be. Maybe a bipartisan agreement. On this because there certainly won't be on the voting rights issue and that more than anything else is where the future of the filibuster is in debt. Well as john just mentioned. Texas democrats are calling democrats in washington to do more to protect voting rights. After defeating the voting bill. One texas lawmaker called on the president to push for a national strategy and another called on congress to do their part joining us. Now co founder punchbowl news and palmer. She is in msnbc contributor. And it's good to see this morning so it took this last straw stunt for democrats to walk out and deny republicans of corum to stop the bill for now at least in the state of texas. What is happening in the congress though on capitol hill in terms of voting rights. The future of these pieces of legislation. I think jonathan laid that out pretty well but basically we're all looking to july chuck schumer has said that is when he plans to bring each one of this kind of massive bill that would deal with the voting rights issues at the federal level. That we've seen crop up in many of these. Different states were conservative. Legislators are trying to peel back some of the voting rights at this point. There is no support in the republican party in the senate to try to forge some kind of agreement on this voting rights act. That schumer is going to try to force a vote on at the end of july. The question really is going to be i think. Is this going to be the issue. That he's up the end of the filibuster. Will you see senators like joe. Manchin support this or not as so far. It doesn't appear that there is that enthusiasm our appetite to try to take this up and say this is going to be the issue. The bill lester is going to blow up over but they are willing to take the vote and that is something that you're gonna see. Chuck schumer force. Yeah you know. I don't understand for the life of me. I just quick at a to'real the side note here. Hr one is is a train wreck waiting to happen. I have no idea. And i don't start with john lewis his age arm four people. I talked to on the hill today. Yeah that makes a lotta sense that seems to make lesson. Joe manchin joe joe mansion and christensen and a lot of other democrats. This is sort of the dirty secret. A lot of other democrats are just sitting back and letting mansion take a lot of lot of the flack for things that they don't especially love themselves and he doesn't mind it. I think in fact he probably likes it. But you know. I don't understand why they don't just move on. Hr for the john lewis voting rights. Bill it's going to be a lot more difficult for republicans to vote no on that. I'm sure they will but still it's a lot cleaner shot at voting rights and it's following through on the legacy of one of the great civil rights heroes of our time and it makes a difference immediately. The supreme court actually guided congress to do this several years ago. so why. don't they just walk through that door. Hr four so much cleaner than hr one seen senator joe mansions to say that he would support that along with lisa. Murkowski isn't going to be big bipartisan. For i think that is fundamentally where the republican party is. And if particularly when you look at where mitch mcconnell is. He is not going to let his members. Vote for this. This is not gonna be able to conscience like we do see some of these other issues. I think chuck schumer's clearly stuck his line in the fan at h one is where he's going to quit his backing and that's what's going to happen moving forward and that's going to be the issue he's gonna push in july. It's going to be the john. Lewis voting bill more at at. What point does joe mansion understand that the republicans are just not going to give him that. Bipartisan vote that That he's looking for he's not gonna find those ten republicans and if he keeps looking for those ten republicans he's going to at some point look like linus in the pumpkin patch waiting for the great pumpkin. Derise it's not. Yeah it's not coming. But in the meantime he still appears to be holding cards even if it's not just him Holding them so. This is a win win for him. In some ways. At some point he will have to deliver Something but i think actually the way forward for democrats is to. I continue to believe. Set any to fight for voting rights all fronts but one of those mechanisms is to take the case directly to the american people. I think this is something that joe biden needs to take on personally. I think he needs to try. And convince at folks in swing states that this is actually a pivotal issue for democracy. That is important to them. Not just two people in cities or people on the coasts or people who don't look like them. I think that that direct democratic. He'll might be might be the way forward. Because there's no political courage among republicans in washington and jonathan will mirror. Just wanna be clear. When i talk about democrats standing behind joe mansion liking letting him take the flak. We've talked about this before that right now. It's joe manchin. Who's who's saying hell no to the filibuster ending the filibuster and it is a win. It works for him. In west virginia state six nine percent of of west virginians voted for donald trump and twenty twenty But also it works for alive of senate democrats who have told you and me and other people. They're just not comfortable with ending. The filibuster of mansion wants to take the flak. That's fine but push came to shove very very uncomfortable ending. The filibuster to these are several democrats. That are sort of standing behind joe mansion while he takes a flak. That's right a first of all. I don't think mentioned minds the attention. He's sort of to be the star of the show here. But certainly i've had. I've had conversations democratic senators who also say that they're not quite willing to go. There even are issue on voting rights. They think that maybe they'd end up. If there isn't a filibuster reform it would be more of a talking filibuster. So i wanna get you your sense on that. Just how endangered is the filibuster really this summer and also provide us an update on the ongoing infrastructure. Talk so congress is out this week but the president had has retargeted memorial day deadline has come and gone. But he's targeted now. I believe the week of june seven so coming up as sort of his new deadline to see whether or not there could be any sort of bipartisan. Deal on infrastructure allergists. I think that you are totally right. You're both are. There are many senators that do not want the filibuster to end. They're just much more quiet about it. I think you have a lot of that. There are moderate democrats in states like arizona georgia accent. There would have problems voting for some of these issues that they don't want to have to take as far as infrastructure. We're reporting this morning. That joe biden is set to meet with shelley moore capito the republican from west virginia. Who's leading the senate. Republican side of things Tomorrow now i think it's important to note that they are very very far apart. Toxic continuing joe biden wants to find some way forward. But they don't even they don't even in the same page on what actually infrastructure means at this point and they're really really far apart when it comes to the actual monetary amount. So yes. They are looking towards next week in the vitamin Find some pathway forward. Is there going to be some momentum. I'm very skeptical. That they're able to get there. I think the real question is going to be when democrats turn to just say we're gonna go it alone and the fact that reconciliation and finding ways or just on by democrats alone is also going to be different at all. I think say like. Oh we're just gonna dump republicans it's time for democrats to get it together. That's going to be extremely difficult. Anna palmer punchbowl news. Thank you very much for being on this morning. And we wanna turn to something. We've been gearing up toward for several weeks now. Really months women over the age of fifty. Who are really having their moment right now. Forbes and know your value have teamed up for a special fifty over fifty initiative to celebrate women who have achieved notable success at midlife and way beyond for these remarkable dynamic women. Growing older is about getting stronger. Wiser better bolder more confident tomorrow. On morning. joe. You will meet the full inaugural class of entrepreneurs leaders and creators who make up the first fifty over fifty selected from over ten thousand nominees..
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"And by the Bloomberg business APP. Welcome to the program. It is hour to its now 11 in the morning in Sydney. That's where Paul is, and he'll say Good morning in a moment. Right now it is nine in the morning in Tokyo and the Japanese equity market is coming online. I'm dead prisoner at the Bloomberg Interactive Brokers Studio in New York. Sorry about that bull. That's her idea completely right? I will say good morning. It is 11 o'clock here, and I am Paul Allen and Well, Big day Break Asia is brought to you by interactive brokers. I became charges of margin loan rates from three quarters of 1% of 1.59% rates are subject to change. You can learn more at I b k r dot com slash compare with a bunch of markets closed again for the Lunar New Year holiday, but to talk about what's up and running, Let's get to Brian Curtis in Hong Kong. Right? Yeah, But can I say good morning as well? Hi, everybody. Good morning from Hong Kong. Yeah, I mean, it's a slow start for sure. This morning. Paul Stocks do look sort of positive, though it looks like for the markets that will trade today that we will start off on a on a positive note, and one of the big reasons for that is the pace of Corona virus outbreaks continuing Slow not only in the United States but in other places, and you can cite India as ah, big example of how cases of really, really turned down. Perhaps we'll get to some details on that later, at one point back in September, 100,000 cases a day now more like 10,000. And so that kind of gives you just a little bit of a positive look at how some investors are are reading what's coming in markets and we just got Japan's numbers from the fourth quarter. The recovery pretty strong there. We had GDP growing and analyzed 12.7%. From the prior quarter, and that was ahead of a 10.1% estimate by Bloomberg economists who were pulled and we just got Singapore's fourth quarter GDP was minus 2.4% year on year that was better than the estimate of minus 3.6%. And South Korea just released its 1st 10 days of the month. Export data Exports gained 69.1% year on year back to Japan, So that was the fourth quarter. We're actually seeing a lot more difficulties in the first quarter because the virus that we've seen pick up over the past same three or four weeks in Japan is pushing the economy back into contraction will have to wait to get the numbers on that. Just briefly Now looking at some of the future's s and P e minis up about 2/10 of 1% Cash market in Tokyo here up 7/10 of 1% and in Australia 9/10 of a percent Doug to you. Alright, Bitcoin. That's the next subject right now. 7 48,065. At one point earlier in the New York session. We broke above 49 grand for the first time, and now there is word on Morgan Stanley. This would be an investing arm of the third firm thinking about adding big pull coin to its list of possible bets. This unit, by the way, manages about $150 billion, and it's known for its skill in picking growth stocks more from Bloomberg's Who's Anna Palmer? We're hearing Counterpoint Global, a unit of Morgan Stanley Investment Management that's racked up wins in mutual fund rankings, is exploring whether Bitcoin would be a suitable option for its investors. Moving ahead with an investment would require approval by the firm and regulators. Ah big run up over the past four months has sparked interest in Bitcoin from big names in business, including Paul Tudor Jones, Ellen Howard and Elon Musk. Morgan Stanley's bed would put the stamp of approval on a volatile asset class. A spokeswoman for Morgan Stanley declined to comment. Susanna Palmer Bloomberg Daybreak Asia We've got to crown result. Shares currently hired by 7/10 of 1%, here in Australia, this after the CEO of Crown result can baton finally stepped down. Now they've moved followed a scathing report from Australian regulators had found the casino facilitated money laundering and wasn't fit to hold a license in Sydney. And the report was particularly critical of Baden. Former Judge Patricia Bergen wrote quote. He is no match for what is needed at the helm of a casino license. See Bloomberg's Angus with the says batons departure. There is just the beginning of crowns. Major overhaul. I mean, it's not just a board overhaul that current needs to do its bean really tasked with changing its its culture, its governance, its controls that the way overseas reserve money laundering risks and its operations, and there's no real sign of when it's gonna game together. Anything I'm seeing, so it has a long path of reform ahead of it. Ground, says Button will leave immediately and chair Helen Coonan will lead the company until the board names a new CEO. We're coming up on six minutes past the hour. Let's go to Auckland, New Zealand. We've gotta snap lock down there at Baxter covering it all from the Bloomberg 9 60 newsroom in San Francisco, Eddie, you have right snap dug up three days at this point, second highest level level. Three after three members of the household came down with Cove. It People are asked to stay at home and worked at home as possible gatherings or restrict teen people and businesses can't operate any customer facing activities. Other than the supermarkets and pharmacies numbers, Matthew Markets, saying the fear is that it could be you cave area. Meanwhile, Australia's Victoria State now in Toto is in a five day lockdown. It started in Melbourne, of course. Now the entire state is closed to prevent spread. After yesterday's Trump Senate acquittal. US political life will remain active with questions about What's next for the Republican Party and Donald Trump made even more confusing now by Senate Minority Leader Mitch McConnell speech blasting ex President Trump. There's no question Gone. Their president. Trump is practically And morally responsible. For provoking the event. Other day, but But he says there are other remedies outside of impeachment. We have a criminal justice system in this country. We have civil litigation. And former presidents are not immune from being accountable by either one. Hey, says he could not vote for conviction because he does not believe a former president can be impeached. So with him coming out so strongly with condemnation of President Trump, this becomes a very fertile garden, or shall we say minefield? Both U. S and U K or showing skepticism on China's role in the Cove in 19 pro White House criticizing both China and the W. H O for both communication and procedure. UK Prime Minister Boris Johnson on CBS does agree with that was eating a wet market. Did he come from the bats where the bats associated with the Penguins? All these questions and now? Matters of speculation. We need to see the data. We need to see all the evidence I thoroughly support. What President Biden said about hey also says that he's hopeful at school's gonna reopen March 8 schools. Topic of conversation in the U. S A swell CDC Director Rochelle Wolinsky. Said. The amount of disease in school is very much related to the amount of disease that's in the community. So the work that we do take decrease. The amount of disease in our community is that much more benefit to getting our schools reopened on CBS, she says. It needs to be a safe environment. Whether or not all teachers are vaccinated. Dr. Anthony Fauci on.
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"You hear the dodgeball questions from from Trump's attorneys if you're Susan Collins and Lisa Murkowski. And even Mitt Romney. I mean, are you does this impact your your decision? The Dodge. Yeah, I think that Republicans have been on the record, at least in the original opening case that the Trump attorneys made that they were very unimpressed with the case that the Trump attorneys were presenting, and there was a lot of pressure. Over the last three days to see how they would finish. And they even got schooled by certain senators. People like Ted, Ted Cruz and Lindsey Graham last night, saying You'd better be prepared. Everyone expects something better from you. When Republicans are looking for a performance that could sort of get him off the hot spot on a vote against Donald Trump. They didn't get it today. If they were asking for specifics, they got a complete Dodge. Jeannie coming here? Yeah, I think that you know where that Trump's team is going to face. Some real challenges is, you know, number one with the disingenuous presentation of the montage of Democrats who they are trying to equate we using terms like fight. With what Donald Trump has accused to have done those kinds of things that I think are very, very difficult for any objective person, if anybody that jury was to swallow, but certainly since this is a play for public opinion. To me, that is very, very difficult for them to overcome. And then I think, as we look from sort of the 30,000 ft level as some, you know, so many of us are watching this, you know nonstop, but a lot of Americans are going about their day. I think the bottom line is how do you A Lau a president without any Punishment to do what the prosecutors showed. You know, in really grave detail over the last two days that President Trump did, and I think bottom line historically, if not in the moment, that is where Republicans who vote to acquit and again I think of many of them will. Maybe except eight or so. How do you answer that? Because that to me, is what many Americans even those who may have voted for Donald Trump or be Republicans are walking away with Well, but also to your point junior. I'll follow up with you here. I think you raise a really good point about. Most Americans are not tuning into this, like the political junkies that we are on. And so as a result of that They also are disgusted with Washington as a whole. So I think, Do you think part of the former president's strategy is to lump Washington as a whole and say, Look, you might think Republicans air dirty, independent swing voters, but Republic but Democrats or justice dirty. I'm not saying that's right or wrong or weighing in on the merits of the argument. But is that the strategy? That's exactly the strategy and that's the strategy he's always taken. I was reminded today in the debates with Hillary Clinton when he was accused of, you know being, you know, sexist and not treating women. Well, what did he do? He paraded in people that her husband was accused of not treating well, right, so it's always You're going to accuse me of this? Well, I will show you that you are no better and in fact, you may be worse. That's been his strategy all along. I think people grow tired of that strategy, but He is somebody who has used that. And I think today we saw I thought we saw his lawyers really channeling. You know former President Trump and they're he. They really took on his persona and they were aggressive and they were making the same arguments I could imagine he would make on Twitter if he was allowed. Here's Here's a little behind the scenes. Uh, ST Louis story back from 2016. I was at the ST Louis debate, and I got bumped out of the press pool, so to speak. There's like seven traveling press pool reporters that the venue for the ST Louis debate I must. I don't know what I was thinking. I looked away and next thing I know the Secret Service have blocked off of room and I'm standing behind stage. Suddenly I'm in the wrong room at the wrong time, minutes before the debate. With all of those accusers of former President Bill Clinton, and I couldn't get out. I was in a security hold, and I'm thinking to myself self one. What have I gotten myself into now? Calves But then so needless to say, a front row seat to history for you, and and how, sir Real and actually the same thing that does surreal, so really cry. Love it. Well, listen coming up. Next, we're gonna check in with Anna Palmer, she's founder and CEO of Punch Bowl news. Anna had an exclusive interview with Kevin McCarthy earlier this week about why he went to Mar a Lago to meet with President Trump. And I think it's a good catapult into the future of the dynamics of the Republican Party. So Rick engineer going to stay with me. I'm Kevin. So really on the chief Washington. Correspondent for Bloomberg TV and Radio Tom.
KMJ NOW
"anna palmer" Discussed on KMJ NOW
"Maria Teresa Kumar, President, Voto Latino and David French. Senior editor of the dispatch. All right, I'm gonna let you guys decide these buckets of Republicans and where you would put him in the party. But let me do that. 211. We have all 211 House Republicans on screen here and what people to be able to visualize the different buckets of Republicans. These are 139 that voted to overturn the election. The next group here is the 18 Republicans who voted either to impeach President Trump will remove green from committees. And then finally, our third group here is the 56 Republicans who did not vote for impeachment or remove green but also opposed overturning the election. So Anna Palmer. There's your groups. The 1 39, the 56 the 18. What do you make of this divide in the Republican Party and How should we best understand it? I think the most important thing to understand is Donald Trump still controls the vast majority of House Republicans hate money of them were elected on his coattails. While there are a few that chose not to air to support impeachment, a few that supported to remove Marjorie Taylor Greene, the vast majority the leadership Kevin McCarthy are still Donald Trump Republicans and that informs the entire thinking of where the Republican conference is going to go from here here forward. David French. You working at a news organization that basically was created in the wake of trying to separate trump from the conservative movement. How much work do you have to do? Uh ah. Lot of work. But I'm optimistic that it's not as much work as people might think. I mean, look, here's the bottom line. I think there's another bucket here and the bucket is the people who in a secret ballot voted to keep Liz Cheney number three in the house. I think that's a very important number, and it's a number that's the large majority. Of the House GOP. What we have going on right now is a very interesting dynamic where there is a layer of activists in the GOP. You see them in some of the state GOP is that have put out some of these crazy and wild statements. That are just divorced from reality on when they demand what they demand from legislators isn't legislating. It's trolling. It's punching its fighting. But the bottom line is right now Trump is silent. This is an under. This has been a underappreciated aspect of the recent story for almost a month. He's been silent. He can't keep his hold on the Republican Party. Through silence. He skulked off tomorrow, Lago, and now he's sort of coasting on that old momentum that can't last forever. Michael Steele, you know, he brought up the state parties. You know you are chairing 2010. The 1 68 of the RNC. I don't know how many of the folks that helped elect you. Chair of the party are still even there. How much does do we all underestimate the control Trump has from that ground level. See that's that's the critical piece. We tend to look at these things from a typical federal perspective, meaning nationally we tend to look nationally. One of things I emphasized as national chairman because I was a county chairman as well as a state chairman. Was that the action is on the ground. And you have to appreciate that while yet Trump is silent on did the fact that you know you have you know these by for Kay did try implicated votes in the house. All the ground state parties of centering members on the ground. State parties are more and more controlled by Trump in Trumpism, so that's where the battle lines are going to be drawn. You know, you know, Say what you want about Marjorie Taylor Greene and the craziness that comes out of her mouth. She did speak a very profound truth. This is the Trump party. This is Hiss. And it is his for his long is yeah, he can hold it. But also a slow as long as those folks are behind him. And right now there's a tell me where the brake is. You show us all on the border. All these different votes by members, but into the day. Where do you see a release by Trump of the On the hold of the party? And where do you see the party moving away from him? That has not happened? And that's a critical piece of this because that's on the ground where it Terry said. The more the party the elected Republicans publicly side with the trump wing of the party. Does that give Democrats in your mind a pass from not working across the aisle with those members. Well, I think it's it's only does not. It's not that it gives it a pass. I think that you know you had Senator Cassidy on earlier, and he's talking about how the Republicans were gonna talk about bread and butter issues and about policy. That's how he was going to sway more of these people back into the Republican camp. And quite frankly, the Republican Party right now is actually in the midst of a cultural war. And if we can't if they can't agree on what basic facts are, and they're peddling conspiracy theories within their own party, That is where their challenges and that's where it gives an opportunity for the Democrats to actually talk about. Saying, We can not only just run through the map, but we could actually maybe get back some of these congressional seats not everywhere, but of the 139 individuals that you said voted to four against impeachment to accept me against the election. Of those 36 of them come from swing Purple states. They come from Georgia. They come from Arizona. They come from Texas. They come from North Carolina. All those four states alone. Haven't increasing, vast, different demographic that's rising. So that fever is going to have to figure out how to break. Is it gonna be through the Republican Party? Or is it gonna be through demographics? Anna Palmer. I don't know if you I'm sure you caught what Adam Schiff said about Kevin McCarthy. And it struck a bunch of us like it was just startling right where we are. I'm numb to the personal insults these days that take place but describe the level of toxicity on Capitol Hill right now, or we are you out of adjectives like I am. I really think there is a pre January 6th and a post January 6th. And what Congressman Schiff was articulating is the frustration and just distrust of Republicans by Democrats right now, and it Z member against member It's party against party its members against members of the police force. And there is you just can't underscore. How that is really being a determinative factor when it comes to how people are leading. I think the Democrats are very frustrated with what Kevin McCarthy did with Marjorie Taylor Greene and defending her when they felt like this was a real true vote of conscience. Especially when you had the Steve King standard just two years earlier. I think that that that is something I feel like He's gotten a bit for gotten and why they didn't have that same standard. Anyway, I'm gonna pause the conversation here when we come back. Voters vote with their feet. Even after elections, and many of them are now walking out of the Republican Party. Do you see this?.
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"Solly and I've dug prisoner at the Bloomberg Interactive Brokers Studio in New York. We've got on trading under way now in Tokyo, Sydney and Soul. It's kind of a mixed picture a rally in Japanese equities, however, in Sydney The market remains a little on the back foot will take a closer look momentarily right now, A few of this hour's top business stories, Jules well, the Body administration will be meeting with officials from Taiwan this week to try to get more chips for US automakers and his Bloomberg's Denise Pellegrini reports There could be more behind this meeting as well. The virtual meeting is scheduled for Thursday. US time to address the serious shortage of chips. Biden administration officials are expected to ask Taiwan semi and MediaTek to ramp up supply. Sources say. Deputy Assistant Secretary of State Matt Murray and acting Deputy Assistant Secretary of Commerce Richard Stephens will be involved along with Taiwan's Minister of Economic Affairs Wang Mei Wah. Ministry tells us the meeting is intended to build closer ties between the U. S. And Taiwan. Global automakers, including GM and Ford are looking at a possible $61 billion in lost revenue this year. If the chip shortage isn't resolved to these Pellegrini Bloomberg Daybreak Asia, the Chinese smartphone maker shall me has reportedly sued the U. S government over its inclusion. Xiaomi's inclusion. On the U. S investment blacklist. Now Business insider is reporting Shall me denied being controlled by Beijing. The company said Banning Americans from investing in Shami would cause irreparable harm. Now the Trump Administration, you might remember added shall me to that blacklist days before President Biden took office. Now. Biden has since pushed back the date for the investment man ban Until May 27th. This will obviously give a little more time to review the policy as well as the listed companies. That said the Biden administration has so far shown no signs it will soften its approach or the U. S approach in dealing with China. For Josh Kind. The digital coin that started as a joke has become the latest obsession for retail traders. It plunged by almost half on Saturday, sparking afari of posts on Reddit and Twitter. Begging coin holders not to panic sell Robin Hood temporarily halted instant deposits for crypto buying, citing extraordinary market conditions. This is a spokesperson told CBS CNBC. Uses, though it could still use funds already deposited in the platform to buy Kryptos in the oil patch. We're hearing that OPEC and its partners of estimated they have implemented 99% of their agreed oil supply curbs. As of January. We have more from Bloomberg's his Anna Palmer. OPEC plus aimed to withhold 7.2 million barrels a day of crude from the market this month about 7% of global supplies. Implementation in January was at 103% among members of the Organization of Petroleum Exporting Countries and 93% for their non OPEC partners, a group that includes Russia and Kazakhstan. Following the modest increase in January. Production OPEC Plus has decided to keep output unchanged in February and March. Susanna Palmer Bloomberg Daybreak Asia just looking at market action here in Asia, We just got a raft of PM eyes, the market readings coming through. Just go through a couple of them. South Korea's PM I'm manufacturing coming in higher than expected in January, 53.2 Taiwan at 60 point to also above expectations. But then you've got Malaysia which was weaker than expected at a reading of 48.9, of course over the weekend. We had China's official Pierre, my reading, falling to 51.3 in January from 51.9 in December, below expectations were looking for the Czech Taishin rating coming through in about an hour and 15 minutes time. Elsewhere as Doug was mentioning you seeing a rally in Japan's market. The Nikkei 2 to 5 up by 1%, South Korea's Kospi also firmer. We had exports rising for the third month in January, but New Zealand and Australian markets are under pressure. We have the lockdown in Perth in West Australia, the Aussie dollar falling on that and Australian stocks on track for their fourth day of losses, the longest losing streak in three months. We had the HSE market Australia Manufacturing Pierre my coming at 57.2 in January. Elsewhere, of course, have been watching what's happening in silver after that read it inspired frenzy. With that royal stock market spilled over into commodities. Silver futures have been rising by as much as 6% gold in the spot market up by a third of 1% of $1853 an ounce and Doug just looking at WT accrued a little weaker $52 a barrel. All right, We're 35 past the hour. The leader of Myanmar's L NLD party has reportedly been detained by the military. Had Baxter covering this story from the Bloomberg 9 16 years room in San Francisco, Ed? Yeah, exactly. Right, Doc. This is on San Souci have been detained in an early morning raid Her NLD party. So she's been detained by the military and that it is a cool they're using the word coup. Tensions have been growing between the civilian government and the military since the November election, where there were claims of voter fraud. The army, according to the reports that we're getting the Bloomberg is asking that Parliament not be convened today as scheduled, China's President Xi Jinping's calling on officials to tighten controls on intellectual property. This report from she's saying that intellectual property is a key to China's opening up national security and quality development, according to Shin, while report. He says the government needs to be aware of shortcomings and to implement deep reforms in the sector. Australia's western city of Perth is shutting down after a quarantine hotel security officer tested positive for covert Bloomberg's Paul Allen in that particular hotel. They were four active cases, including the UK and South Africans trains so the security guard developed symptoms on Thursday. He doesn't know how he got it. He didn't enter any hotel rooms. What we do know Already visited dozens of venues while potentially infected he wants I will be using the covert saver app so Western Australian government's optimistic that can help a lot with contact tracing, so.
Bloomberg Radio New York
"anna palmer" Discussed on Bloomberg Radio New York
"The Bloomberg Business. Hap and Bloomberg radio dot com. This his Bloomberg Daybreak Asia Man It's 10:30 A.m. Monday morning in Hong Kong. 1 30 Monday afternoon here in Sydney. Find Paul Evans and I'm Doug prisoner at the Bloomberg Interactive Brokers Studio in New York. Our colleague Brian Curtis, is off for the week. We've got trading under way now in Tokyo, Sydney and soul as well as Hong Kong and on the Chinese mainland kind of a mixed picture. At this point in time, we had the data dump for China a short while ago. GDP in Q four coming in above forecast the other data points kind of mixed. We'll take a closer look momentarily right now I want to get you caught up on a few of the others. Top business stories, Paul Top economic adviser to President elect Biden is calling for swift action to address the pandemic. Brian D's will serve as director of the National Economic Council. And he told Fox News Sunday. The U. S economy is currently spiraling downward. We lost jobs last month for the first time since the spring last week, nearly a million Americans filed for unemployment insurance, which is higher than any week during the great recession. And last week, 30 Million Americans reported that they didn't have enough food to eat. So we've got acute economic crisis in human crisis and we need decisive action. What do you say the Biden administration's $1.9 trillion spending plan would help generate robust recovery. Biden's proposal includes the following her more direct payments, the households and expansion of jobless benefits, more money for state and local governments. And an expansion of vaccinations and virus testing programs. Biden will need at least 10 Republican senators to successfully push through stimulus that the rapid pace that he wants to see Well, we have former Fed chair Janet Yellen is confirmation hearing coming up this week. She's been nominated, of course, is U S Treasury secretary and she will go before the Senate Finance Committee on Tuesday, and you can be assured exchange rates are on the agenda We have more from Bloomberg's Anna Palmer. If she's asked about the new administration's policy toward the dollar, officials assisting in testimony prep tell The Wall Street Journal. Yellen will say the dollar's value should be determined by the markets that would represent a return to the U. S. Is hands off approach to the dollar. President Trump had often called for a lower dollar to get a competitive advantage. Yellen is also expected to say the intentional targeting of exchange rates to gain an unfair advantage in trade is unacceptable by the U. S or other countries. Susanna Palmer Bloomberg Daybreak Asia Former vice chairman of Goldman Sachs and advisor to five U. S presidents expects the Paris on China to remain Robert Hormats joined the Bloomberg or what goes up podcast to discuss the future of U. S. China relations. Moments thinks Biden will not revert back to the soft a period of the past with China and they're going to take a hard line. Don't expect an immediate withdrawal of some of the tariffs on. I don't expect another grand round of trade negotiations of so called round two. I think you will try to get China to comply with commitments of round one. Home. It's also said Biden will face China's challenge and ambition to be a global leader in technology. Despite the competition, he said, there's potential for collaboration between the two economic powers, especially in climate change and the financial area. We're coming up on 34 past here. Let's get you caught up on non market action. We were talking about the Chinese Day to the list of numbers that we were sorting through short while ago in terms of 1/4 quarter GDP and annual expansion rate of 6.5%, which was above forecast industrial output also topping estimates with a gain year over year of 7.4%, however, Retail sales a tad disappointing increasing year over year in the month of December by 4.6%. But the market was looking for 5.5%. And then when it comes to fixed asset investment, Ah, game from January through December of 2.9%. That's also year over year but the estimate was looking for something in the vicinity of about 3.2%. All in all, we've got higher equity's not only for the mainland, but in Hong Kong as well. With the hang sang now up about 4/10 of 1% Shanghai composite is better by just about 2/10 of 1%. We had that much weaker offshore Chinese currency going into the Asia session that was largely the result of a rally in the dollar in the New York session on Friday, the offshore Chinese you want now slightly stronger, not by much at six spot 48 20 against the greenback right now and sold the Kospi down nearly 1% and in Sydney, the Aztecs 200 weaker by about 9/10 of 1%. Similar decline in Tokyo for the Nikkei I'll Also about 8/10 of 1%. Will have later in the week. The Bank of Japan wrapping up its two day policy meeting off former BOJ executive director telling US Bloomberg News that the BOJ is likely to signal a pause in its buying of exchange traded funds. Here's the caveat as long as the equity market remains buoyant. The Nikkei, as I mentioned is showing some weakness today down about 8/10 of 1% No trading in the U. S on Monday in observance of the Martin Luther King Jr Day and as a result of that holiday, no trading in US sovereign debt in the Tokyo session. The 10 year was last quoted in the yield of 1.8% Paul The spread of covert and Japan is causing some political headaches for Prime Minister Yoshihide Asuka. If Baxter's got global news. Yeah, maybe more than a headache. You're right. Paul could be his job money she pull Shows the Cabinet losing seven points to 33% approval, and Bloomberg's Caza Murray talking to saying they are. There are calls for a new LDP leader after a little over, Ah, week yourself since the declaration of emergency was declared the impact, at least in kicking. When you look at the numbers of the daily virus numbers, it really hasn't come down. So there's a lot of doubt that it was not just too late, but also also too little. He says The party will be hard pressed to stay with him, but it may not be imminent because opposition The support is very low. South Korea's president Moon Jae Hannah is says the country may reach herd immunity by November at the latest. The Moon says he will work to invite China's President Xi Jinping to visit. He also says he sees a turning point for a new inter Korean US North Korea talks. He says his in U. S intelligence are analyzing North's weapons. Hong Kong government. Reacting to outgoing U S. State Department secretary Mike Pompeo is talk of further sanctions. The government is expressed what it calls utmost anger toward the U. S decision to sanction you six officials from the region and from China They call the move insane, shameless and despicable, saying the U. S. Is attempting to intervene in internal affairs. Health workers and India have kicked off over the weekend, one of the largest inoculation drives in the world and estimated 167 165,714 people. Receive vaccines on the first day. US. Incoming CDC director Dr Rochelle Walensky says the Biden promise of 100 million vaccinations in 100 days is definitely doable. She warns. The variance out there, though, are going to make some very, very dark days in the interim, But what increased transmissibility means is there are more cases and therefore more deaths. They're certainly further studies that are looking at the South Africa strain at the Brazil strain at other strains in Nigeria and the UK Foreign Secretary Dominic Raab is considering possible travel, isolation centers and GPS tracking. Meanwhile, he says, vaccinations are getting into arms hope by the any spring we could get into a better place we can Lift some restrictions. It'll have to be done gradually on the country and get back to North and Singapore will require all inbound travelers to take a covert test upon arrival in the city state from January 25 a total of 21 days for citizens and permanent residents overall in San Francisco. I'm Ed Baxter, This is Bloomberg. Right, Doug. I know you've been speaking and I just wanted to draw your attention to the I b this internal chat function that we have. Are you reading this? The AP News. Aler Ah yeah. Isn't this stunning? Yeah. Defense officials tell AP they fear possible inside attack, An inauguration.
Heartland Newsfeed Radio Network
"anna palmer" Discussed on Heartland Newsfeed Radio Network
"Due to similar demographic changes. Yeah i mean. There are some trends in georgia You look at arizona. Even parts of texas there are trends clearly that republicans do need to be concerned with that demographic in nature that a driving the kinds of changes that may make it more difficult for republicans to assemble the kind of coalition. They need to win. Electorally that having been said you also saw hints of a multiracial coalition developing. That's right of center as well in places like miami dade county and certainly parts of arizona. Parts of of south west texas. Oh there are these really kind of interesting confusing in some ways. Messages about the kinds of coalitions that were built and the types of outcomes. We saw him this election. And what it means. I think going forward. The republican party does have to be committed to a few things. First of all it's got to be committed to being a movement that can articulate what it's four that's beyond just the the machinations and thoughts of a single person. I think when you associate when a party becomes so closely associated with one figure when that figure is so divisive and troubling as we've seen that creates a very difficult dynamic. We talked about georgia. What was clear. Was you're right. Republican turnout wasn't bad it wasn't as good as it could have been. It wasn't as good as it was in the presidential election. And maybe we shouldn't have expected that but what was clear was that donald trump did drive turnout to a certain degree for himself and so the question is. How does the republican party become viable as a party. That is not just the party of one man or the party of one man's policies but more than that a movement that stands for the kinds of things that people can readily identify. And i think the republican party's gonna have to spend some time thinking through what those things are. Is it the traditional party of markets an opportunity and personal freedom strong national defense or is it a party that some of that with some populism mixed and i think that debate is going to be an interesting one. That will play out over these next several months and years atta the the senate will be divided. Fifty-fifty once the new senators from georgia and the new senator from california to replace kamala harris are are seated. What does that mean in terms of. How the senate will operate. I know this happened. Twenty years ago we had an election that produced a fifty fifty cents. So they'll they'll be democrats have controlled by virtue vice president breaking ties. But there'll be some sort of power-sharing yes they they've started negotiating this. We've been reporting a lot about kind of what it was like. The last time this happened was with us. Senator lott and senator daschle a longtime ago of different era of politics. It took them. I think about a couple of weeks to negotiate that deal. I think that is the baseline for where senator chuck schumer will start the negotiations But they're going to have to come to an agreement about a for example in the in the last time this happened was when if you were a committee and if it was deadlocked you know fifty fifty that then they would take a bill to the senate floor which was obviously typically The party in charge would would win So i think there's going to be a lot of negotiations going back and forth and there's going to be a lot of pressure particularly on a schumer round the filibuster You know. I think he's going to be hesitant to make any dramatic moves. But i i think democrats are. It is not lost on them. How senate majority leader mitch. Mcconnell has run the floor for the last six years and there will be sore feelings about that particularly around judges and and other things so I think you'll see some some democrats looking for retribution. On on that and from republicans have kind of how they hand before the last several years anna palmer. I wanna thank you so much for for joining us. And i want to congratulate you by the way on the launch of punchbowl news for listeners. Who don't follow it. Anna for for a number of years as written with her colleague. Sherman political playbook she and jake and john bresnahan of now broken off with for this new venture. Yes absolutely you can sign up at punchbowl news. Thank you. I appreciate it. Thanks bill what does this mean for a progressive agenda. I mean you can look at some of the people who are going to become Committee chairs because of this outcome in georgia bernie sanders will run the budget committee. Ron wyden will run the finance committee which writes tax laws. Sherrod brown will run the banking committee. These are these are big gets for progressives at the same time anything they're going to get through the senate and through those committees Of the with them being evenly divided. You're going to need to hold onto the most moderate members of the democratic caucus. Or you're gonna need to pick up moderate republicans to support your agenda. So what does it. What does it mean for bernie sanders to try to budget. This likely to need the vote of every democrat in the senate. What does this mean for the tug of war between progressives and moderates in the party. Yeah i think this opens up a more discussion and debate. An and probably a lot of attention i would imagine within the caucus right for the reasons that you lay out josh and that anna talked about a. I mean there's no question that this nabil's a fifty fifty senate enables a lot more governing to happen. In comparison to a scenario where mcconnell is blocking everything so that i think is hugely positive specially because we have some rapid urgent needs on relief recovery on the vaccine and on democracy reform but the the key in terms of. What's in the bills. I think it will come down to negotiation. About what is senator mentioned willing to sign onto what what are some of the more conservative members of the caucus willing to sign onto. I think this is one area. Where the biden. Administration's careful approach on appointments. I think signals some how they might approach the congress. Now right were you know we. We've seen this sort of balancing act of Kind of bringing some new progressive ideas and some new progressive voices but also trying to bring along the rest of the party and the rest of the country as well. I imagine that's how how things will proceed but the other thing i'll just say to is Our political and policy conversation has changed a lot over the last ten fifteen twenty even over the last Four years right. So you know. It's now i think pretty widely believed among the caucus that we need some kind of major democracy reform that we need something to deal with our inequality crisis that we obviously need something to happen quickly on the on the cova crisis and so i think some of the tensions that we saw in the past might actually go somewhat more smoothly In the sense that there's a lot more agreement on some basic new ideas and so then what does that mean for. Republicans in the senate That it's likely even though democrats have have this bare majority. They're still going to need to be a lot of bipartisan work. To the extent that the filibuster is kept for legislation than there are going to be certain things that need sixty votes to get through and while democrats could get rid of the filibuster with a simple majority. It's not clear that they have agreement among all fifty members of their caucus in in order to do that So what is what does it look like for. Republicans to negotiate here or should democrats be right to fear that you're going to see sort of a legislative blockade and that biden's going to have to find ways either to do things once a year the budget process which is a legislative process that allows you to move through the senate with just a bare majority And then through appointments and executive actions or are there big opportunities for for legislative negotiation here. Yeah i'm actually relatively optimistic. That moderates on both sides of the aisle of the ones who are going to be boosted. And i think history demonstrates the degree to which moderates can exert a tremendous amount of influence even when the margins is narrow. I mean you look back to the debate of the affordable care act in twenty ten. Really what got that. Piece of legislation across the finish line was moderates. Now it's were were the ones in the in the driver seat there because of the nature of the margin but given where we are now. I do think you're going to see some moderates In the republican party boosted. And i do think that their instinct their natural proclivity is going to be to try and work a with biden and with democrats to try and get a few things done. So people like the for mentioned mitt. Romney You know. Susan collins of maine who won re election lisa murkowski of alaska even rob portman of ohio. Bill cassidy of louisiana. I mean this was the group after all that broke the logjam on covid nineteen relief legislation..
KCRW
"anna palmer" Discussed on KCRW
"I'm your host, Josh Barrow on the right is long. He Chen fellow at the Hoover Institution on the left of Savile Row. Mon, president of Demos and Our special guest is Anna Palmer, CEO and founder of Punch Bowl News. Georgia has its first black senator and its first Jewish senator and its first democratic winds and Senate races in 20 years. John also often Raphael Warnock won Tuesday's runoff elections in Georgia Ausaf by about a point and Warnock by about two points. Georgia has this unusual system where there's a runoff between the top two candidates if nobody gets 50% in the general election. Turnout was extremely high for runoff almost as high as the presidential election and higher on the Democratic side than on the Republican side. Black turnout was especially strong and combined with the growth and leftward shift of Atlanta suburbs. That meant Democrats were able to get over the top. Before we go back and talk about what this very narrow democratic majority means for policy making in this in this Congress and in the beginning of the bite administration was willing. If you could just reflect a little bit on. How is it that Democrats got over the top in Georgia? And what does it mean for Democratic politics? Yeah, it's I mean, it's drowned out by so much that has happened in these last few days. But it is such an important story, not just for this election, but for what it suggests. For the next many years of our politics, right? I think this is a huge watershed moment. Because what you're seeing here in Georgia, like what we saw in Arizona and other states back in November is a different a different coalition emerging in this in the South and in the Southwest you if you look at the early turnout numbers Right war, knocking us off. We're really powered by incredibly strong turnout and huge margins among young people. People of color on, uh colluding working class folks as well of all races. And this was really a multi racial working class coalition that resonated with Warnock and Ossoff's message. Now it was razor thin, of course, but the margins aren't even a little bit better than Joe Biden's margins, which is interesting. I think what this shows is that the old notion of your run middle of the road kind of Republicans light under a Democratic banner. That's that's not really the model for one. I cannot see if they were very unapologetic about their progressive ideas. They ran on $2000 relief checks, which we've talked about before also clear about their commitments to racial and economic justice. But they're very much you know, Sons of Georgia, and I think that's really important. It also shows a model for long term politics, right. This was not just about one election. This is the product of a decade plus of on the ground organizing and mobilizing by folks like Natasha Browne, Stacey Abrams and say, who fought right. These air leaders who have been working in communities on the ground to activate those constituencies, and that's adorable shift that I think will continue. And love. He wouldn't What are lessons here for Republicans have been obviously one thing that there's a lot of consternation about in the party is allies of President Trump, saying that the elections in Georgia were rigged. President Trump himself saying that and wondering about the extent to which that dampen turnout on the Republican side, no rubber guns actually a very good turnout in this in this runoff, just not as astoundingly good as Democrats had But at the margin in a close race, you could see that having been dispositive. But then the other thing is the long run trend in Georgia, which you know, in addition to the state, diversifying Republicans have just lost a lot of support and what was once their Heartland in Georgia, which is to say, you know, middle to upper income suburbs of Atlanta that have become much bluer. What is he? What does it look like for Republicans to try to reverse what caused them to lose in the state of Georgia and not have it just slide farther and farther away from them in the way that Virginia and Colorado I've done due to similar demographic changes. Yeah. I mean, there are some trends in Georgia. You look at Arizona, even parts of Texas. There are trends clearly that Republicans do need to Be concerned with their demographic in nature that is driving the kinds of changes that may make it more difficult for Republicans to assemble the kind of coalition they need to win electorally now that having been said You also saw hints of a multi racial coalition developing That's right of center as well in places like you know, Miami Dade County and certainly parts of Arizona parts of Southwest Texas. So there are these really kind of interesting, confusing in some ways, messages about the kinds of coalitions that were built and the types of outcomes we saw in this election of what it means. I think going forward, the Republican Party does have to be committed to a few things. First of all, it's got to be committed to being A movement that can articulate what it's four. That's beyond just the machinations and thoughts of a single person. I think when you associate when a party becomes so closely associated with one figure, and when that figure is so divisive and troubling As we've seen that creates a very difficult dynamic. We talked about Georgia. What was clear was. You're right. Republican Turnout wasn't bad. It wasn't as good as it could have been. It wasn't as good as it was in a presidential election, and maybe we shouldn't have expected that. But what was clear was that Donald Trump did drive turnout to a certain degree for himself. And so the question is. How does the Republican Party become viable as a party? That is not just the party of one man or the party of one man's policies? But more than that, a movement that stands for the kinds of things that people can readily identify, and I think the Republican Party's gonna have to spend some time thinking through what those things are, you know? Is it the traditional party of Markets and opportunity and personal freedom, Strong national defense or is it a party that some of that with some populism mixed in and I think that debate is going to be an interesting one that will play out over these next several months and years. Out of the Senate will be divided 50 50 once the new senators from Georgia and the new senator from California to replace Kamila Harris, or are seated..
KCRW
"anna palmer" Discussed on KCRW
"It makes the the need to compromise for Joe Biden and the need to really think kind of a little bit smaller because everything was gonna have to go through Mitch McConnell. Um, you know that kind of flips it on its head. So all of a sudden you haven't all Democratic Washington. Instead of potentially having Cabinet positions held up and long hearings and different things. I mean, that's a very different scenario for him in terms of getting up and running. I do think you know the first quarter, at least, if not his, probably first year, which is really one a new president. Within all, Democratic Congress can get things done before the midterms. Is probably going to be very covert relief centric. I mean, a lot of the new jobs reports came out today. There is, you know, I could see sometimes of some kind of economic stimulus relief. This fact, you know the Democrats, one of those $2000 checks, I would expect that to happen. So I think in terms of what he has to do and who he has to convince, you know, it gets a little bit easier from. Of course, it's a 50 50 Senate and Nancy Pelosi only has a five seat majority in the house. So it's going to be tricky to thread the needle for Democrats. But and I think he's gonna get pushed very horror now by progressives to go to the left to say, you know, we've been in this four year. Adam experience with Donald Trump and Trump Republicanism, and they've done all of these things that we they want to kind of have the pendulum swing back pretty aggressively to me. Well, you know, is Joe Biden able to use this experience and will Republicans have kind of a reckoning within themselves? That You know, Maybe this era of the hyper partisanship isn't the best for democracy and isn't the best for the best for America. I have a hard time seeing that play out. I think at the end of the day, most members are very focused on their own power and very focused on staying in office, and, unfortunately, probably for the country. The incentive structure is around. Being more partisan, because you're only ever really worried about being challenged from it. If you're on left by somebody who's more further on the left up here on the right, somebody who is much more conservative. I've been talking with Sabeel Remind of D most Lanhee Chen of the Hoover Institution and Anna Palmer of Punch Bowl News will be back to talk about those remarkable Georgia Senate election results..
860AM The Answer
"anna palmer" Discussed on 860AM The Answer
"Then we change the world. Yeah, I think I'm gonna shoot way. Take Georgia and then we change America America. Nobody can serve God on the military. Welcome back America to you. What? Those air the clips. I had played the most for the past two months. David and Drucker and David I've got a new affiliate in Albany. So I had to tell them about you. Longtime political reporter for the Washington Examiner. Longtime friend of the show sartorial expertise. Well, David, would you agree with me? There's not much point in spinning if you're Karl Rove yesterday. I mean, your donors are all in the campaign is all there's not much point in spending. If you're Rove yesterday, is there No. Look, I mean, I think this you know, it was always gonna be a hard fought race It was going to be about Whether both sides could motivate a robust turnout. And then you know what's gonna happen in a state that is a legitimate purple swing state, But where Republicans, especially looking down ballot. I always thought any runoff scenario should have a slight edge, but it was about Party not being sort of divided amongst itself. Believing that it was worth showing up, having motivation to show up. Given that it's happening after a presidential election normally when we have these scenarios Party. The wins the White House doesn't do quite as well in the runoff. But in this case, we have a lot of voters that did not vote on November 3rd voting in the contest, and so it's just become this all out. Sort of war of attrition. And they're you know, we're just gonna have to see Where it comes out. I still contend it would be very unlikely for Republicans to lose both of these races and then the Democrats don't want control of the Senate. Much. They went both races. Now. The reason I brought up robe is in Punch Bowl A M. This morning, the new newsletter and news Service by Jake Sherman and Anna Palmer. They report the Georgia Battleground fund has been the centerpiece of Republicans effort to keep those two seats. Red. Reelect Purdue and send left lower back. Karl Rove was the group's finance chairman, held a private conference call for bundlers yesterday, so it's not he's not trying to spend. He announced they'd raised 58 million for the party's efforts to boost left learned Purdue. He also played prognosticator and said that the models show with one million or more George and turn out the vote. Today, Republicans will win they expect to get at least 62% of the Election day turnout. Right now, Rove said. Republicans expect to win both races. That by the way is consistent when I heard yesterday from people who know the NRSC team pretty well, I know Dem Zehr trying to spend a little bit on Oh, the early vote helps us but I'm I'm feeling pretty good this morning, David. Look, I don't think you have a reason. Tol Ophelia of good. I've just been very cautious and how I'm approach all of these contests this cycle then, as we have seen Some of them have been extremely close. I think in particular with Senator Purdue I felt pretty confident. He should be in a position to win because he won the first round and, in fact did better in the state van did President Trump He won by about two points. He just fell short of 50%. Obviously, the president fell short by a lot left by much less than that. And so all things being equal. He should be in a position to pull it out. I think the left will warn operates is a little bit more uncertain in my mind only because I think war not despite all of his Troublesome statements and the deep dive into his background that didn't occur in round one is a more dynamic candidate on guy Think Lefler is not as good of a candidate, as is David Perdue. And so you know that plus all of the infighting in Georgia between President the governor, president, secretary of state There's just some wild cards in there. And if we've learned everything anything over the past couple of years is that on the one hand wild cards don't always mean massive. Surprises but sometimes actually do. Let me play something that the president said last night cut number 13. Tomorrow. Each of you is going to vote in one of the most important run off elections in the history of our country Woman, Frankly, forget about run off one of the most important elections. Really. It's really not run off its elections because it's a big our country's depending on you. The whole world is watching the people of Georgia tomorrow on you got a swamp because everything so crooked around I mean not Not here. There was sex. Always complaining about judges Don't know. I'm complaining.
Bloomberg Law
Boeing finds debris in fuel tanks of many undelivered 737 MAX jets
"Boeing has apparently discovered debris inside the fuel tanks in about thirty five undelivered seven thirty seven Max jets inspected so far Bloomberg says Anna Palmer has more on that Dow Jones citing aviation officials familiar with the details reports Boeing has inspected about fifty out of four hundred planes that are in storage awaiting delivery the report says Boeing will also widen the search for debris beyond fuel tanks to include interior spaces and compartments inside the
Bloomberg Law
Twitter warns fake account purge to keep erasing users, shares drop 21 percent
"In, the wake of explosive growth of four hire vehicles and a rash of. Suicides among financially, challenged yellow taxi. Drivers in an Email barrage to nearly five million New. Yorkers on Friday Uber said riders would be. Hurt most by the squeeze facing higher prices longer. Wait times and less service in the city's outer reaches the New York taxi workers. Alliance welcomes councils bills which could see. A vote as soon as August eighth I'm Barbara Kusak seventy one billion dollar deal that Disney and. FOX shareholders have agreed to means Disney gets many FOX's assets including rights to. The x. men Disney will not get the Fox Sports network however. That regulators insisted, those networks be sold off because Disney already owns ESPN. I'm Christopher cruise and I'm Suzanne Anna Palmer from Bloomberg world headquarters New York regulators, are threatening to force charter. Communications to leave the state, claiming the cable giant. Failed to meet its obligations after buying Time Warner Cable the New York state public service commission said yesterday it was revoking its approval for the deal and that charter which is. The, number to US cable provider behind Comcast must submit a plan for quote. Orderly transition to, a successor provider Twitter tumbled the most in four years yesterday this. After the social media company said monthly users dropped by one million in the second quarter from the first and. Predicted further declines as it continues to, fight against spam fake, accounts and malicious tweets Twitter fell twenty and a half percent. Friday to thirty four twelve and was down twenty one percent for the week. Facebook which plunged sixteen point seven percent this week, is hearing calls from investors. To loosen. Chairman and CEO Mark zuckerberg's grip on the company that grip is cemented by a share class structure that maintained zuckerberg's voting control even when he, sold millions of shares some investors have grumbled but most were happy to stay quiet as the stock surged this week's plunge up ended that dynamic increasing, calls for changes at the top US companies are, grappling with a hot labor market but not. Stressing over it, July jobs data scheduled for release this Friday are expected, to show an unemployment rate hovering, around the lowest since two thousand Thousand some..