April 17, 2025 • 16 mins
On today's podcast:
1) President Trump's optimism on trade is lifting stocks following yesterday's selloff on Wall Street. Positive signals from initial US-Japan trade talks stirred optimism agreements can be reached to avoid higher levies on American trading partners.
2) Fed Chair Jay Powell says tariffs make a challenging scenario for the Federal Reserve. Powell on Wednesday signaled a wait-and-see approach to tariffs, pushing back on hopes the central bank would act quickly to soothe investor fears. His comments, along with concerns over the impact of tariffs on the tech sector, helped end a two-day consolidation in stocks.
3) Harvard continues to push back against pressure from the White House. Harvard University's refusal to comply with a Trump administration deal to require it to reform its governance and end diversity programs is resulting in retribution. The administration's freezing funding of 2.2 billion dollars of multiyear grants, accusing Harvard of mishandling antisemitism on campus. President Trump says the school should lose its tax-exempt status and several outlets reported that the IRS is considering the issue
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2 (00:10):
Good morning, I'm John Tucker and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:14):
And Karen, futures are getting a lift on this last
trading day, the holiday shortened week. On optimism over trade talks,
President Trump's negotiators made quote big progress in a meeting
with Japanese officials. We're seeking to avoid higher levies that
he's threatened against US trading partners. Let's get more from Bloomberg.
Tokyo Bureau a chief Isabelle Reynolds.
Speaker 4 (00:35):
Japan's negotiator. Akazawa has been the focus of global attention
really because he's been first in the line to try
and get a reprieve from these global tariffs. He was
preparing for talks with the Commerce Secretary and the Treasury
Secretary while he was on his way to Washington. Suddenly
Trump announces, oh, I'm going to be part of these negotiations.
So that must have been rather a shock for him.
(00:57):
It's rather unclear what actually happened in the end. About
what seems to have happened, in fact, is that Akazawa
went to the White House and had brief talks with
Trump ahead of the actual negotiations.
Speaker 3 (01:07):
Bloomberg'szi Isabelle Reynolds says the talks did not result in
an immediate halt on the terrace, but preparations are underway
for a second round of talks to take place later
this month.
Speaker 2 (01:17):
Well John Chinese President Xijin Pang is making a diplomatic
push to counter US pressure on nations to limit trade
ties with Beijing. He is wrapping up a three nation
tour of Southeast Asia, and she promoted the idea of
a quote Asian family and called for regional unity.
Speaker 3 (01:34):
And Goldman Sachs as US investors could be forced to
offload up to eight hundred billion dollars in Chinese docks
in a worst case financial decoupling with China. In the
same scenario, Chinese investors might need to up unload their
US financial assets, which could amount to one point seven trillion.
And Carlisle Group CEO Harvey Schwartz says that global economic
(01:57):
growth relies on the two countries finding a work together.
Speaker 5 (02:01):
I don't think it's a good outcome if the number
one and two largest economies in the world haven't found
an equilibrium around cooperation. It's really critical for the global
economy and for trade that we and China find a
place of cooperation and equilibrium. And I think the faster
that can happen, the better it is for all business
(02:22):
activity globally, especially in the United States.
Speaker 3 (02:25):
Carlota Groups CEO Schwartz was speaking to Shinali Bask for
Bloomberg Original's upcoming series Bullish.
Speaker 2 (02:33):
Well, John, we turned to the markets now, and futures
are higher. Following yesterday's sell off on Wall Street, the
S and P five hundred drop two and a quarter
percent of the Nasdaq fell three percent after ved share j.
Powell said trade tensions risk undermining the Fed's employment and
inflation goals. Powell spoke at the Economic Club of Chicago.
Speaker 6 (02:52):
The level of tariff increases announced so far is significantly
larger than anticipated, and the same is likely to be
true of the economic effects, which will include higher inflation
and slower growth.
Speaker 2 (03:05):
Powser marks are in live here on Bloomberg, reinforce a
message he has repeatedly emphasized. FED officials are in no
hurry to change the Central Bank's benchmark policy rate. The
Fed next to Side's on May seventh.
Speaker 3 (03:16):
In Monetary policy, also and focus this morning overseas, the
European Central Banks center making an interust rate decision. Now,
let's get the very latest from Bloomberg to you on
parts in London.
Speaker 7 (03:27):
You won good morning, John and Karen.
Speaker 8 (03:29):
While the Fed may be in no hurry to change rates,
that is exactly what we're expecting today from Frankfurt. Sixty
one of sixty two economists in Bloomberg's survey reckon the
European Central Bank will cut rates at their lunchtime meeting.
That will take the deposit rate from two and a
half to two and a quarter percent. The threat of
swinging tarists from the United States putting pay to any
(03:49):
talk of a pause at this meeting, and investors expect
at least two more rate cuts later this year. But
you won't be surprised to hear there is a lot
of uncertainty around the outlook in London.
Speaker 7 (04:00):
I'm YOUU and pots Bloomberg Radio.
Speaker 2 (04:02):
Are you and thank you?
Speaker 4 (04:03):
Well.
Speaker 2 (04:03):
Back here in the USh, the government's anti trust trial
taking a breakoup Meta Platforms continues today. Now, some may
think about a Platforms as a giant conglomerate, but according
to Mark Zuckerberg, the company is fighting for its survival
begin more with Bloomberg's Denise Pelle Greeney and.
Speaker 9 (04:18):
A marathon three days of testimony in the Federal Trade
Commission's trial to break up Meta, the CEO of the
company that owns Facebook, Insta, WhatsApp, and Threads, testified Facebook
is fighting for its existence even when it's ahead. The
FTC wants to force Meta to sell off Insta and WhatsApp,
citing emails and documents that suggest Meta bought the companies
to eliminate competitive threads. But Zuckerberg and Meta's lawyers say
(04:40):
staying alive in the fast moving world of social media
requires staying nimble, and they also say the acquisitions didn't
harm competition. The outcome of the trial is uncertain. Denise
Pellogrity Bloomberg Radio.
Speaker 3 (04:52):
Thanks Denise and shares of Hurtz. They are driving higher
this morning. In fact, they're storing twenty five percent. CNBC
is reporting Bill ac Coman's Pershing Square Capital Management has
a massed position of almost twenty percent of the car
rental Company.
Speaker 2 (05:06):
And finally, John Harvard University's refusal to comply with a
Trump administration deal to require it to reform its governance
and and diversity programs is resulting in retribution the administration's
freezing funding of two point two billion dollars of multi
year grants. Accusing Harvard of mishandling antisemitism on campus, President
Trump said this school should lose its tax exempt status,
(05:28):
and several outlets reported that the IRS is considering the issue.
But Larry Summers, former US Treasury Secretary and former president
at Harvard, tells Bloomberg the university needed to push back
on the administration's requests.
Speaker 10 (05:41):
Harvard should not go interjecting itself into politics, but god,
when it is the object of an extra legal set
of orders and threats, I don't think it had any
viable choice at all but to respond us strongly.
Speaker 2 (06:01):
And Former US Treasury Secretary Larry Summers also told Bloomberg
that President Trump's actions toward Harvard are part of an
effort to suppress institutions that challenge his administration. You can
catch David Weston's full conversation with Summers on the Bloomberg
podcast page on YouTube. Time now for a look at
(06:22):
some of the other stories making news in New York
and around the world, and for that we're joined by
Bloomberg's Michael Barr Michael, Good Morning.
Speaker 11 (06:28):
Good morning, Karen. Federal John said there is probable cause
to hold Trump administration officials in criminal contempt of court
for sending accused Venezuelan gang members to an El Salvador
prison last month. Despite his order to immediately halt the deportations.
US District Judge James Bosberg issued in orders saying that
officials acted in willful disregard. The administration plans to appeal
(06:51):
the ruling. Maryland Senator Chris van Holland has flown to L.
Salvador to find out more about Kilmar Abrego Garcia's detention.
The Maryland man was being detained in the notorious L.
Salvador prison after he was deported last month. A federal
judge found of Brego Garcia's detention unlawful and ordered the
administration to facilitate his return to the US. Van Hollins
(07:14):
says he had met with US embassy personnel and Salvadoran officials.
Speaker 12 (07:20):
This is simply about letting him have his day in court.
We used the courts to make sure that we don't
convict people who are not guilty, and that we convict
those who are.
Speaker 11 (07:32):
Meanwhile, the Trump administration wants a US appeals court to
block a judge's directive that government officials be questioned about
their failure to seek the return of Abrego Garcia. Attorney
General Pam Bondi.
Speaker 1 (07:45):
He is not coming back to our country. President Buquelea
said he was not sending him back.
Speaker 13 (07:50):
That's the end of the story.
Speaker 11 (07:52):
Ag Bondi says the administration believes a Brego Garcia was
a member of MS thirteen, an allegation his family denies.
Ten New York prison guards have been charge in connection
with the fatal beating of a twenty two year old
prison inmate, including two charged with murder. Prisoner messiaht Natwee
at the Mid State Correctional Facility was sent to a
(08:13):
hospital where he died on March first, on a Daga
County District Attorney William Fitzpatrick.
Speaker 14 (08:18):
The first count charges two individuals corrections officers Jonah Levy
and Caleb Blair, with depraved mind murder. Not an intentional murder,
but a murder so depraved and so wanton and disregarding
of human life that New York law allow us allows
it to rise to the level of intentional murder.
Speaker 11 (08:38):
DA Fitzpatrick says other guards are accused of trying to
cover it up. Global news twenty four hours a day
and whenever you want it with Bloomberg News Now.
Speaker 13 (08:47):
I'm Michael Barn. This is Bloomberg Karen.
Speaker 2 (08:50):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stanshawer, John, good morning, want
to care in.
Speaker 13 (09:00):
All good for the Yankees.
Speaker 15 (09:01):
They got Clark Schmidt back in the rotation, pitched well
in his season debut. They got a seventh inning, go
ahead home run from Aaron Judges first homer in eleven games,
and a game saving diving catch and right field from
Clave Bellinger for the final out of a four to
three win over Kansas City. They sweeped the series. Play
tonight at Tampa Bay, too feel very much like a
Yankee home game. The Ray's home stadium is where the
(09:23):
Yankees play their spring training games. The Mets in Minnesota
helped scoreless for seven innings. They tied the game with
three in the eighth, but lost to the Twins four
to three, and ten Red Sox won one nothing the
Tampa Bay. David Hamilton's homer the only run Nationals lost
in Pittsburgh sixty to one. The Orioles won nine to
one over Cleveland. Jackson Holiday at a Grand Slam in
Toronto's three to one went over Atlanta. The Blue Jay
set a club record five pitchers had nineteen strikeouts.
Speaker 13 (09:46):
The Brazman now five and thirteen.
Speaker 15 (09:49):
NBA play in two wins with the road teams Miami
in Chicago. Tyler Hero scored thirty eight Dallas in Sacramento
as the MAVs won the second quarter by twenty five.
The Heat and the MAVs play tomorrow in Atlanta and
in Memphis to see who gets the last playoff spots.
Then Saturday it's the Nixon Pistons Game one at the Garden.
Detroit won only fourteen games last season, forty four wins
(10:12):
this year.
Speaker 13 (10:12):
The Knicks coach is Tom Dibbodell.
Speaker 16 (10:14):
They've had a great season. I think, you know, Jab's
done a great job there that they added the I
think really good veterans to compliment you know, the young
players that they have in a lot of their guys
that made big steps. You look at the development of
Duran and you know Stewart and you know obviously obviously
(10:35):
one is Cunningham.
Speaker 15 (10:36):
Yeah, all Kid Cunningham did this season is an average
twenty six points, six rebounds, and nine assists per game.
Last Stanley Cup Loundspot goes to Montreal this after the
Canadians went only eight of their first twenty four games.
Speaker 13 (10:48):
John Stashanwler Bloomberg Sports Karen John.
Speaker 1 (10:52):
Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business Appum, this is Bloomberg Day Break.
Speaker 3 (11:04):
Hey, that brings this to five twelve. On Wall Street,
the markets they continue to be whips on by trade uncertainty,
and let's try to get a handle on where things
stand right now with Bloomberg Senior editor Bill Ferry's joining
us this morning. Bill, thanks for being with us. Wall
Street seems to be grasping at some positive signs in
the trade talks between the US and Japan. Let me
(11:26):
put the question out there, is that hope well placed
this morning?
Speaker 12 (11:30):
Yeah?
Speaker 7 (11:30):
I think the jury is out on that.
Speaker 17 (11:32):
President Trump going online yesterday to say that, you know,
big progress, big progress had been made in the trade
talks with the Japanese team, and definitely this Japanese delegation
is being seen as a test case by dozens of
countries that are hoping to see just what it will
take to strike a deal with the Trump administration. But
(11:54):
I got to point out it was a very relatively
short meeting for a trade negotiation. The top Japanese to
go met with Trump for about fifty minutes, and then
he met with officials from Treasury in Commerce for just
over an hour, about an hour and fifteen minutes. So
usually trade deals are really detailed back and forth negotiations
that take hundreds of hours and weeks. So they have
(12:17):
scheduled a second round of meetings later in this month.
But that ninety day clock that President Trump put on
reaching deals with other countries is already ticking.
Speaker 3 (12:29):
And to be sure, the levies remain in place for
Japan at this juncture.
Speaker 7 (12:35):
That's right. What Japan is wanting to do.
Speaker 17 (12:38):
They want to see the full twenty four percent tariffs,
the reciprocal so called reciprocal tariffs wiped away. They'd like
to see that ten percent kind of baseline tariff also gone.
And those are the kind of things I think investors
and the markets are going to really be looking at
when they finally if they finally come to a deal,
they're going to see is it possible? Well, how far
(13:00):
back can you roll these tariffs? How far is President
Trump willing to go?
Speaker 3 (13:06):
That's Japan or talks with other countries right now going on?
Speaker 17 (13:10):
Well, the administration says that there are talks maybe at
lower levels taking place. We know South Korea is preparing
to send a delegation. We've heard Scott Bessett talking about
countries like Argentina and even India being near the near.
Speaker 7 (13:26):
The front of the queue.
Speaker 17 (13:27):
But in terms of the substantive talks, President Trump said
he wants to sign off on all these deals he
popped into this meeting with the Japanese. For him to
do so with all these other countries is definitely going
to take a lot of time.
Speaker 13 (13:40):
Okay.
Speaker 3 (13:40):
At the same time, fedch Heir Howell doesn't sound like
he's going to ride to the rescue as the trade
work continues. What's happening on that front.
Speaker 17 (13:49):
Well, he's definitely signaling kind of a wait and see
approach here so far. Even though I think the markets
have been pricing in between three and four rate cuts
this year, he said that, you know, the FED needs
to see price stability before they really make a move
that he wants to make sure that inflation, the bump
up and inflation expected from tariffs, doesn't become a longer
(14:12):
term problem. Remember the FED got burned during the pandemic
when they said that the inflation was temporary or it
was in a transition, transitory. After the pandemic was winding down,
it wasn't transitory. It climbed higher. It became a political problem,
became an economic problem. They don't want that to happen again.
So they're really more in a wait and see mode.
Speaker 3 (14:35):
It's hard to dealing trade in foreign relations. The Chinese
president Hujinping, he's not a three nation Southeast Asia tour,
and the message there seems to be you can't rely
on the US, but you can rely on us.
Speaker 7 (14:49):
Yeah.
Speaker 17 (14:49):
So Shei Jinping in Cambodia today. He's already visited Malaysia
and Vietnam. Those are countries that also have a good
trading relationships with the US and va Nom in particular
has become a place where supply chains have been re
routing as companies tried to move out of China. Now
(15:10):
a lot of those countries are starting to have a
second look at China, seeing it as perhaps a more
stable economic partner to have, and they're also worried about
these same reciprocal tariffs and some of the other trade
issues that the US is bringing up.
Speaker 7 (15:25):
So it'll be very interesting to see where that develops.
Speaker 2 (15:27):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:34):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (15:40):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
in New York, Bloomberg ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 3 (15:55):
Plus listen coast to coast on the Bloomberg Business app
Now with Apple CarPlay and auto interfaces.
Speaker 2 (16:01):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now and your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 3 (16:14):
I'm John Tucker. Join us again tomorrow morning for all
the news you need to start your day, right here
on Bloomberg day Break
Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2 (00:10):
Good morning, I'm John Tucker and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:14):
And Karen, futures are getting a lift on this last
trading day, the holiday shortened week. On optimism over trade talks,
President Trump's negotiators made quote big progress in a meeting
with Japanese officials. We're seeking to avoid higher levies that
he's threatened against US trading partners. Let's get more from Bloomberg.
Tokyo Bureau a chief Isabelle Reynolds.
Speaker 4 (00:35):
Japan's negotiator. Akazawa has been the focus of global attention
really because he's been first in the line to try
and get a reprieve from these global tariffs. He was
preparing for talks with the Commerce Secretary and the Treasury
Secretary while he was on his way to Washington. Suddenly
Trump announces, oh, I'm going to be part of these negotiations.
So that must have been rather a shock for him.
(00:57):
It's rather unclear what actually happened in the end. About
what seems to have happened, in fact, is that Akazawa
went to the White House and had brief talks with
Trump ahead of the actual negotiations.
Speaker 3 (01:07):
Bloomberg'szi Isabelle Reynolds says the talks did not result in
an immediate halt on the terrace, but preparations are underway
for a second round of talks to take place later
this month.
Speaker 2 (01:17):
Well John Chinese President Xijin Pang is making a diplomatic
push to counter US pressure on nations to limit trade
ties with Beijing. He is wrapping up a three nation
tour of Southeast Asia, and she promoted the idea of
a quote Asian family and called for regional unity.
Speaker 3 (01:34):
And Goldman Sachs as US investors could be forced to
offload up to eight hundred billion dollars in Chinese docks
in a worst case financial decoupling with China. In the
same scenario, Chinese investors might need to up unload their
US financial assets, which could amount to one point seven trillion.
And Carlisle Group CEO Harvey Schwartz says that global economic
(01:57):
growth relies on the two countries finding a work together.
Speaker 5 (02:01):
I don't think it's a good outcome if the number
one and two largest economies in the world haven't found
an equilibrium around cooperation. It's really critical for the global
economy and for trade that we and China find a
place of cooperation and equilibrium. And I think the faster
that can happen, the better it is for all business
(02:22):
activity globally, especially in the United States.
Speaker 3 (02:25):
Carlota Groups CEO Schwartz was speaking to Shinali Bask for
Bloomberg Original's upcoming series Bullish.
Speaker 2 (02:33):
Well, John, we turned to the markets now, and futures
are higher. Following yesterday's sell off on Wall Street, the
S and P five hundred drop two and a quarter
percent of the Nasdaq fell three percent after ved share j.
Powell said trade tensions risk undermining the Fed's employment and
inflation goals. Powell spoke at the Economic Club of Chicago.
Speaker 6 (02:52):
The level of tariff increases announced so far is significantly
larger than anticipated, and the same is likely to be
true of the economic effects, which will include higher inflation
and slower growth.
Speaker 2 (03:05):
Powser marks are in live here on Bloomberg, reinforce a
message he has repeatedly emphasized. FED officials are in no
hurry to change the Central Bank's benchmark policy rate. The
Fed next to Side's on May seventh.
Speaker 3 (03:16):
In Monetary policy, also and focus this morning overseas, the
European Central Banks center making an interust rate decision. Now,
let's get the very latest from Bloomberg to you on
parts in London.
Speaker 7 (03:27):
You won good morning, John and Karen.
Speaker 8 (03:29):
While the Fed may be in no hurry to change rates,
that is exactly what we're expecting today from Frankfurt. Sixty
one of sixty two economists in Bloomberg's survey reckon the
European Central Bank will cut rates at their lunchtime meeting.
That will take the deposit rate from two and a
half to two and a quarter percent. The threat of
swinging tarists from the United States putting pay to any
(03:49):
talk of a pause at this meeting, and investors expect
at least two more rate cuts later this year. But
you won't be surprised to hear there is a lot
of uncertainty around the outlook in London.
Speaker 7 (04:00):
I'm YOUU and pots Bloomberg Radio.
Speaker 2 (04:02):
Are you and thank you?
Speaker 4 (04:03):
Well.
Speaker 2 (04:03):
Back here in the USh, the government's anti trust trial
taking a breakoup Meta Platforms continues today. Now, some may
think about a Platforms as a giant conglomerate, but according
to Mark Zuckerberg, the company is fighting for its survival
begin more with Bloomberg's Denise Pelle Greeney and.
Speaker 9 (04:18):
A marathon three days of testimony in the Federal Trade
Commission's trial to break up Meta, the CEO of the
company that owns Facebook, Insta, WhatsApp, and Threads, testified Facebook
is fighting for its existence even when it's ahead. The
FTC wants to force Meta to sell off Insta and WhatsApp,
citing emails and documents that suggest Meta bought the companies
to eliminate competitive threads. But Zuckerberg and Meta's lawyers say
(04:40):
staying alive in the fast moving world of social media
requires staying nimble, and they also say the acquisitions didn't
harm competition. The outcome of the trial is uncertain. Denise
Pellogrity Bloomberg Radio.
Speaker 3 (04:52):
Thanks Denise and shares of Hurtz. They are driving higher
this morning. In fact, they're storing twenty five percent. CNBC
is reporting Bill ac Coman's Pershing Square Capital Management has
a massed position of almost twenty percent of the car
rental Company.
Speaker 2 (05:06):
And finally, John Harvard University's refusal to comply with a
Trump administration deal to require it to reform its governance
and and diversity programs is resulting in retribution the administration's
freezing funding of two point two billion dollars of multi
year grants. Accusing Harvard of mishandling antisemitism on campus, President
Trump said this school should lose its tax exempt status,
(05:28):
and several outlets reported that the IRS is considering the issue.
But Larry Summers, former US Treasury Secretary and former president
at Harvard, tells Bloomberg the university needed to push back
on the administration's requests.
Speaker 10 (05:41):
Harvard should not go interjecting itself into politics, but god,
when it is the object of an extra legal set
of orders and threats, I don't think it had any
viable choice at all but to respond us strongly.
Speaker 2 (06:01):
And Former US Treasury Secretary Larry Summers also told Bloomberg
that President Trump's actions toward Harvard are part of an
effort to suppress institutions that challenge his administration. You can
catch David Weston's full conversation with Summers on the Bloomberg
podcast page on YouTube. Time now for a look at
(06:22):
some of the other stories making news in New York
and around the world, and for that we're joined by
Bloomberg's Michael Barr Michael, Good Morning.
Speaker 11 (06:28):
Good morning, Karen. Federal John said there is probable cause
to hold Trump administration officials in criminal contempt of court
for sending accused Venezuelan gang members to an El Salvador
prison last month. Despite his order to immediately halt the deportations.
US District Judge James Bosberg issued in orders saying that
officials acted in willful disregard. The administration plans to appeal
(06:51):
the ruling. Maryland Senator Chris van Holland has flown to L.
Salvador to find out more about Kilmar Abrego Garcia's detention.
The Maryland man was being detained in the notorious L.
Salvador prison after he was deported last month. A federal
judge found of Brego Garcia's detention unlawful and ordered the
administration to facilitate his return to the US. Van Hollins
(07:14):
says he had met with US embassy personnel and Salvadoran officials.
Speaker 12 (07:20):
This is simply about letting him have his day in court.
We used the courts to make sure that we don't
convict people who are not guilty, and that we convict
those who are.
Speaker 11 (07:32):
Meanwhile, the Trump administration wants a US appeals court to
block a judge's directive that government officials be questioned about
their failure to seek the return of Abrego Garcia. Attorney
General Pam Bondi.
Speaker 1 (07:45):
He is not coming back to our country. President Buquelea
said he was not sending him back.
Speaker 13 (07:50):
That's the end of the story.
Speaker 11 (07:52):
Ag Bondi says the administration believes a Brego Garcia was
a member of MS thirteen, an allegation his family denies.
Ten New York prison guards have been charge in connection
with the fatal beating of a twenty two year old
prison inmate, including two charged with murder. Prisoner messiaht Natwee
at the Mid State Correctional Facility was sent to a
(08:13):
hospital where he died on March first, on a Daga
County District Attorney William Fitzpatrick.
Speaker 14 (08:18):
The first count charges two individuals corrections officers Jonah Levy
and Caleb Blair, with depraved mind murder. Not an intentional murder,
but a murder so depraved and so wanton and disregarding
of human life that New York law allow us allows
it to rise to the level of intentional murder.
Speaker 11 (08:38):
DA Fitzpatrick says other guards are accused of trying to
cover it up. Global news twenty four hours a day
and whenever you want it with Bloomberg News Now.
Speaker 13 (08:47):
I'm Michael Barn. This is Bloomberg Karen.
Speaker 2 (08:50):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stanshawer, John, good morning, want
to care in.
Speaker 13 (09:00):
All good for the Yankees.
Speaker 15 (09:01):
They got Clark Schmidt back in the rotation, pitched well
in his season debut. They got a seventh inning, go
ahead home run from Aaron Judges first homer in eleven games,
and a game saving diving catch and right field from
Clave Bellinger for the final out of a four to
three win over Kansas City. They sweeped the series. Play
tonight at Tampa Bay, too feel very much like a
Yankee home game. The Ray's home stadium is where the
(09:23):
Yankees play their spring training games. The Mets in Minnesota
helped scoreless for seven innings. They tied the game with
three in the eighth, but lost to the Twins four
to three, and ten Red Sox won one nothing the
Tampa Bay. David Hamilton's homer the only run Nationals lost
in Pittsburgh sixty to one. The Orioles won nine to
one over Cleveland. Jackson Holiday at a Grand Slam in
Toronto's three to one went over Atlanta. The Blue Jay
set a club record five pitchers had nineteen strikeouts.
Speaker 13 (09:46):
The Brazman now five and thirteen.
Speaker 15 (09:49):
NBA play in two wins with the road teams Miami
in Chicago. Tyler Hero scored thirty eight Dallas in Sacramento
as the MAVs won the second quarter by twenty five.
The Heat and the MAVs play tomorrow in Atlanta and
in Memphis to see who gets the last playoff spots.
Then Saturday it's the Nixon Pistons Game one at the Garden.
Detroit won only fourteen games last season, forty four wins
(10:12):
this year.
Speaker 13 (10:12):
The Knicks coach is Tom Dibbodell.
Speaker 16 (10:14):
They've had a great season. I think, you know, Jab's
done a great job there that they added the I
think really good veterans to compliment you know, the young
players that they have in a lot of their guys
that made big steps. You look at the development of
Duran and you know Stewart and you know obviously obviously
(10:35):
one is Cunningham.
Speaker 15 (10:36):
Yeah, all Kid Cunningham did this season is an average
twenty six points, six rebounds, and nine assists per game.
Last Stanley Cup Loundspot goes to Montreal this after the
Canadians went only eight of their first twenty four games.
Speaker 13 (10:48):
John Stashanwler Bloomberg Sports Karen John.
Speaker 1 (10:52):
Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business Appum, this is Bloomberg Day Break.
Speaker 3 (11:04):
Hey, that brings this to five twelve. On Wall Street,
the markets they continue to be whips on by trade uncertainty,
and let's try to get a handle on where things
stand right now with Bloomberg Senior editor Bill Ferry's joining
us this morning. Bill, thanks for being with us. Wall
Street seems to be grasping at some positive signs in
the trade talks between the US and Japan. Let me
(11:26):
put the question out there, is that hope well placed
this morning?
Speaker 12 (11:30):
Yeah?
Speaker 7 (11:30):
I think the jury is out on that.
Speaker 17 (11:32):
President Trump going online yesterday to say that, you know,
big progress, big progress had been made in the trade
talks with the Japanese team, and definitely this Japanese delegation
is being seen as a test case by dozens of
countries that are hoping to see just what it will
take to strike a deal with the Trump administration. But
(11:54):
I got to point out it was a very relatively
short meeting for a trade negotiation. The top Japanese to
go met with Trump for about fifty minutes, and then
he met with officials from Treasury in Commerce for just
over an hour, about an hour and fifteen minutes. So
usually trade deals are really detailed back and forth negotiations
that take hundreds of hours and weeks. So they have
(12:17):
scheduled a second round of meetings later in this month.
But that ninety day clock that President Trump put on
reaching deals with other countries is already ticking.
Speaker 3 (12:29):
And to be sure, the levies remain in place for
Japan at this juncture.
Speaker 7 (12:35):
That's right. What Japan is wanting to do.
Speaker 17 (12:38):
They want to see the full twenty four percent tariffs,
the reciprocal so called reciprocal tariffs wiped away. They'd like
to see that ten percent kind of baseline tariff also gone.
And those are the kind of things I think investors
and the markets are going to really be looking at
when they finally if they finally come to a deal,
they're going to see is it possible? Well, how far
(13:00):
back can you roll these tariffs? How far is President
Trump willing to go?
Speaker 3 (13:06):
That's Japan or talks with other countries right now going on?
Speaker 17 (13:10):
Well, the administration says that there are talks maybe at
lower levels taking place. We know South Korea is preparing
to send a delegation. We've heard Scott Bessett talking about
countries like Argentina and even India being near the near.
Speaker 7 (13:26):
The front of the queue.
Speaker 17 (13:27):
But in terms of the substantive talks, President Trump said
he wants to sign off on all these deals he
popped into this meeting with the Japanese. For him to
do so with all these other countries is definitely going
to take a lot of time.
Speaker 13 (13:40):
Okay.
Speaker 3 (13:40):
At the same time, fedch Heir Howell doesn't sound like
he's going to ride to the rescue as the trade
work continues. What's happening on that front.
Speaker 17 (13:49):
Well, he's definitely signaling kind of a wait and see
approach here so far. Even though I think the markets
have been pricing in between three and four rate cuts
this year, he said that, you know, the FED needs
to see price stability before they really make a move
that he wants to make sure that inflation, the bump
up and inflation expected from tariffs, doesn't become a longer
(14:12):
term problem. Remember the FED got burned during the pandemic
when they said that the inflation was temporary or it
was in a transition, transitory. After the pandemic was winding down,
it wasn't transitory. It climbed higher. It became a political problem,
became an economic problem. They don't want that to happen again.
So they're really more in a wait and see mode.
Speaker 3 (14:35):
It's hard to dealing trade in foreign relations. The Chinese
president Hujinping, he's not a three nation Southeast Asia tour,
and the message there seems to be you can't rely
on the US, but you can rely on us.
Speaker 7 (14:49):
Yeah.
Speaker 17 (14:49):
So Shei Jinping in Cambodia today. He's already visited Malaysia
and Vietnam. Those are countries that also have a good
trading relationships with the US and va Nom in particular
has become a place where supply chains have been re
routing as companies tried to move out of China. Now
(15:10):
a lot of those countries are starting to have a
second look at China, seeing it as perhaps a more
stable economic partner to have, and they're also worried about
these same reciprocal tariffs and some of the other trade
issues that the US is bringing up.
Speaker 7 (15:25):
So it'll be very interesting to see where that develops.
Speaker 2 (15:27):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:34):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (15:40):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
in New York, Bloomberg ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 3 (15:55):
Plus listen coast to coast on the Bloomberg Business app
Now with Apple CarPlay and auto interfaces.
Speaker 2 (16:01):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now and your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 3 (16:14):
I'm John Tucker. Join us again tomorrow morning for all
the news you need to start your day, right here
on Bloomberg day Break
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com