Border Deal Unlikely; Nevada Primary; NYCB Cut to Junk by Moody’s

Good morning. 0:00:03.080 --> 0:00:05.920 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:05.960 --> 0:00:07.440 stories we're following today. 0:00:07.960 --> 0:00:11.479 We begin in our nation's capital. The Senate border deal 0:00:11.520 --> 0:00:15.000 that includes funding for Ukraine and Israel appears dead ahead 0:00:15.000 --> 0:00:17.920 of a key vote. Bloomberg's Amy Morris has the latest 0:00:17.920 --> 0:00:18.640 from Washington. 0:00:19.320 --> 0:00:22.280 Senate Minority Leader Mitch McConnell says it's clear the deal 0:00:22.360 --> 0:00:23.279 won't become law. 0:00:23.400 --> 0:00:24.079 It looks to me. 0:00:24.320 --> 0:00:26.800 And to most of our members as if we had 0:00:27.200 --> 0:00:29.600 no real chance here to make a law. 0:00:29.960 --> 0:00:32.280 That's because Speaker Mike Johnson says the bill would be 0:00:32.280 --> 0:00:34.680 dead on arrival in the House, claiming it doesn't go 0:00:34.760 --> 0:00:37.760 far enough to stop the flow of illegal immigration. Senate 0:00:37.800 --> 0:00:41.519 Majority Leader Chuck Schumer slammed the gops about face, accusing 0:00:41.560 --> 0:00:43.640 Republicans of cowering to Donald Trump. 0:00:43.720 --> 0:00:48.280 Lead McConnell and the Republican conference did one hundred and 0:00:48.360 --> 0:00:53.279 eighty degree reversal. They were quaking at the knees at 0:00:53.280 --> 0:00:54.880 the fear of Donald Trump. 0:00:55.160 --> 0:00:59.080 The first procedural vote is scheduled for later today in Washington. 0:00:59.160 --> 0:01:01.640 Amy Morris, Bloomberg Radio, All right, Amy, thanks. 0:01:01.720 --> 0:01:05.520 Meanwhile, House Republicans have failed to impeach Homeland Security Secretary 0:01:05.560 --> 0:01:09.319 Alejandro Majorkiss, and Bloomberg's Ed Baxter reports. 0:01:09.319 --> 0:01:12.280 The vote is certainly an embarrassment for the GOP, which 0:01:12.400 --> 0:01:15.039 thought it had this wrapped up going in. The final 0:01:15.160 --> 0:01:18.520 vote was two fourteen in favor and two sixteen against. 0:01:18.959 --> 0:01:21.080 It was tied until one of the votes got changed 0:01:21.080 --> 0:01:23.400 in a procedural move so that the issue could be 0:01:23.440 --> 0:01:24.880 brought back for reconsideration. 0:01:25.520 --> 0:01:25.720 Now. 0:01:25.760 --> 0:01:28.960 Some GOP members were not happy at all. Representative Ralph 0:01:29.000 --> 0:01:32.080 Norman said the leaders should have had the vote count 0:01:32.200 --> 0:01:34.720 going in, saying you don't put it on the floor 0:01:34.720 --> 0:01:38.920 without knowing. Representative Marjorie Taylor Green saying those who voted 0:01:38.959 --> 0:01:43.039 against it will hear from voters. Ed Baxter Bloomberg. 0:01:42.640 --> 0:01:43.960 Radio, Okay and thank you. 0:01:44.000 --> 0:01:46.759 In another setback for Speaker Mike Johnson, the House also 0:01:46.800 --> 0:01:49.880 failed to pass a standalone aid package for Israel. That 0:01:50.000 --> 0:01:54.080 seventeen point six billion dollar legislation required a two thirds 0:01:54.120 --> 0:01:56.280 majority to pass. The vote there was two fifty to 0:01:56.280 --> 0:01:59.640 one eighty. Today, Secretary of State Anthony Blincoln meets with 0:01:59.760 --> 0:02:02.280 israel lely leaders as Hamas signals it is open to 0:02:02.320 --> 0:02:05.320 a new ceasefire and hostage release deal In Gaza. B 0:02:05.320 --> 0:02:08.160 Lincoln expressed some optimism after meeting yesterday with the leaders 0:02:08.160 --> 0:02:09.240 of Katar and Egypt. 0:02:09.800 --> 0:02:13.480 We continue to believe that an agreement is possible and 0:02:13.680 --> 0:02:14.640 indeed essential. 0:02:15.320 --> 0:02:17.480 Secretary of State Lincoln's on his fifth trip to the 0:02:17.480 --> 0:02:21.080 Middle East since the Gaza War began. According to Allarabia Television, 0:02:21.120 --> 0:02:23.640 Hamas wants a one hundred and thirty five day truce 0:02:23.680 --> 0:02:26.120 that could be rolled out in three stages. The second 0:02:26.120 --> 0:02:29.120 stage calls for Israel to pull all its forces from Gaza. 0:02:29.480 --> 0:02:32.800 Israeli Prime Minister Benjamin Netanyahu has insisted the war won't 0:02:32.880 --> 0:02:34.720 end until Hamas is destroyed. 0:02:35.240 --> 0:02:38.440 Meywhile Nathan and the race for presidency and Nikki Hailey 0:02:38.560 --> 0:02:41.600 has suffered a loss in the largely symbolic Republican Nevada 0:02:41.680 --> 0:02:45.079 President Joe primary, while President Joe Biden secured an easy 0:02:45.160 --> 0:02:48.240 victory in the state's Democratic vote with more than half 0:02:48.280 --> 0:02:51.600 the vote counted. None of these candidates had more than 0:02:51.720 --> 0:02:54.760 sixty one percent of the vote to Hailey's thirty two 0:02:54.840 --> 0:02:56.040 point four percent. 0:02:55.840 --> 0:02:59.240 And Karen changes could be coming at the Republican National Committee, 0:02:59.280 --> 0:03:02.640 Bloomberg News has learned Chairwoman Ron McDaniel's in discussions with 0:03:02.680 --> 0:03:05.200 party leadership to step down by the end of this month. 0:03:05.520 --> 0:03:09.400 Sources Saint McDaniel's been facing pressure from Donald Trump well Nathan. 0:03:09.440 --> 0:03:11.960 Turning to the markets and the economy, more FED officials 0:03:12.000 --> 0:03:14.320 are dousing any hopes of a March rate cut, And 0:03:14.360 --> 0:03:16.480 here's Cleveland FED President Loarrettamester. 0:03:16.760 --> 0:03:19.040 It would be a mistake to move rates down too 0:03:19.120 --> 0:03:23.320 soon or too quickly without sufficient evidence that inflation was 0:03:23.360 --> 0:03:26.359 on a sustainable timely path back to two percent. If 0:03:26.360 --> 0:03:30.400 the economy evolves as I expect I think it will, 0:03:30.720 --> 0:03:33.600 I think we will gain that confidence later this year, 0:03:33.960 --> 0:03:36.360 and then we can begin moving rates down. 0:03:36.560 --> 0:03:41.200 Cleveland FED President Lorettamester remarks echo those from several policymakers, 0:03:41.200 --> 0:03:44.560 including chair j Powell, who signaled that they're comfortable taking 0:03:44.600 --> 0:03:46.920 their time cutting rates from a two decade high. 0:03:47.160 --> 0:03:49.880 Started Company News Now, Karen, we're watching Community or a 0:03:49.960 --> 0:03:52.920 New York Community Bank Corps. That's after its credit grade 0:03:53.000 --> 0:03:55.920 was cut to junk at Moody's let's get the details 0:03:55.920 --> 0:03:57.119 now from Bloomberg's John Tucker. 0:03:57.200 --> 0:03:59.720 Johnny and Nathan Moody says the bank is facing multi 0:03:59.760 --> 0:04:04.400 fed financial risks and governance challenges. They've lowered the company's 0:04:04.440 --> 0:04:07.920 long term issue rating two notches below investment grade. Yeah, 0:04:07.960 --> 0:04:11.080 that's junk. The trouble began after it acquired assets of 0:04:11.160 --> 0:04:14.240 Signature Bank last year in the regional bank crisis that 0:04:14.360 --> 0:04:18.040 pushed NYCB into a different regulatory category where it had 0:04:18.040 --> 0:04:21.320 to beef up reserves. Now, just last week, NYCB announced 0:04:21.320 --> 0:04:24.640 plans to slash the dividend and warned of troubled loans 0:04:24.680 --> 0:04:27.480 time to commercial real estate. The socks down fifty nine 0:04:27.520 --> 0:04:30.240 percent year to date. This morning in the pre market trading, 0:04:30.520 --> 0:04:33.880 it's down another ten percent. John Tucker, Bloomberg. 0:04:33.480 --> 0:04:36.440 Radio, All right, John, thank you New York community. Not 0:04:36.520 --> 0:04:39.120 the only one taking it on the chin today. Snap 0:04:39.160 --> 0:04:42.400 shares are down about thirty percent this morning, make it 0:04:42.480 --> 0:04:45.440 thirty one percent. Even the owner of the Snapchat app 0:04:45.560 --> 0:04:48.520 posted disappointing revenue in the holiday quarter. It's to sad 0:04:48.520 --> 0:04:50.480 the company is still reeling from a slump in its 0:04:50.520 --> 0:04:54.320 digital advertising business. On the flip side, shares of Ford 0:04:54.440 --> 0:04:57.160 are up more than six percent. The automaker posted fourth 0:04:57.200 --> 0:05:01.839 quarter results above estimates and forecast higher profits twenty four Karen. 0:05:01.880 --> 0:05:04.600 We now turn to a transformative deal in the sports 0:05:04.720 --> 0:05:10.080 broadcasting industry. Walt Disney's ESPN, Fox, and Warner Brothers Discovery 0:05:10.120 --> 0:05:13.880 are joining forces to launch a sports focused streaming service 0:05:13.920 --> 0:05:16.240 that will feature major college and pro games that are 0:05:16.279 --> 0:05:19.920 usually seen only on traditional television. We get the details 0:05:19.920 --> 0:05:21.520 now from Bloomberg's Charlie Pellett. 0:05:21.680 --> 0:05:24.279 The service will be a third owned by each company. 0:05:24.320 --> 0:05:27.719 Pricing and a name have yet to be determined. According 0:05:27.720 --> 0:05:30.200 to a statement, they expect to launch the new service 0:05:30.240 --> 0:05:32.680 by the fall of this year. The aim is to 0:05:32.839 --> 0:05:36.479 draw in viewers who don't subscribe to a PayTV bundle 0:05:36.760 --> 0:05:39.080 and offer them all of the sports that come with 0:05:39.320 --> 0:05:44.160 such a package. It'll include Disney's ESPN and ABC Networks, 0:05:44.400 --> 0:05:49.600 Fox and waterer channels including TNT and TBS in New York. 0:05:49.720 --> 0:05:52.760 Charlie Pellett, Bloomberg Radio. 0:05:54.520 --> 0:05:55.880 It's time now for look at some of the other 0:05:55.960 --> 0:05:57.920 stories making news around the world, and for that we're 0:05:57.960 --> 0:06:00.320 joined by Bloomberg Samy Morris, Sammy Goodmore. 0:06:00.760 --> 0:06:04.640 Good Morning Karen. President Biden will attend three fundraisers hosted 0:06:04.640 --> 0:06:07.479 by New York doctors and financiers as he looks to 0:06:07.520 --> 0:06:12.280 extend his cash advantage over Republican rival Donald Trump. The fundraisers, 0:06:12.320 --> 0:06:15.160 which will largely be held during the afternoon, but could 0:06:15.200 --> 0:06:18.080 bleed into rush hour traffic. Come after. The President's re 0:06:18.120 --> 0:06:21.080 election campaign raised ninety seven million dollars in the fourth 0:06:21.160 --> 0:06:23.760 quarter of twenty twenty three and reported one hundred and 0:06:23.760 --> 0:06:27.520 seventeen million dollars on hand. The president has attended a 0:06:27.560 --> 0:06:30.680 series of high dollar fund raisers recently, including a trip 0:06:30.760 --> 0:06:33.640 last week to Miami in Palm Beach. The Biden campaign 0:06:33.720 --> 0:06:37.239 hopes a cash edge can help the president overcome poles 0:06:37.440 --> 0:06:41.080 that show him consistently trailing Donald Trump, who is now 0:06:41.240 --> 0:06:45.760 closing in on the Republican nomination. Areas of southern California 0:06:45.839 --> 0:06:48.800 are trying to dry out after an extreme weather system 0:06:49.080 --> 0:06:52.159 pummeled the region with heavy rain and strong winds. Los 0:06:52.200 --> 0:06:55.400 Angeles Fire Chief at Kristin Crowley the road. 0:06:55.200 --> 0:06:58.320 To recovery may be long and it requires an all 0:06:58.440 --> 0:07:03.080 hands on deck approach. Damage assessments have started and all 0:07:03.120 --> 0:07:07.360 city departments will continue to coordinate and support our recovery effort. 0:07:07.480 --> 0:07:10.560 Chief Growley says there is still danger from falling trees 0:07:10.600 --> 0:07:13.840 and mud slides, but the recovery has begun slowly as 0:07:13.960 --> 0:07:16.920 power is being restored and there is more rain in 0:07:16.960 --> 0:07:19.800 the forecast. For today. While it's not expected to be 0:07:19.880 --> 0:07:23.120 heavy rain, it does increase the risk of more mud slides. 0:07:23.640 --> 0:07:27.400 An alarming trend on the nation's highways, more roadside assistants 0:07:27.480 --> 0:07:31.200 workers are being killed. A study by TRIPAA finds one 0:07:31.240 --> 0:07:33.880 hundred and twenty three such workers were killed by passing 0:07:34.000 --> 0:07:38.080 vehicles between twenty fifteen and twenty twenty one, study author 0:07:38.200 --> 0:07:39.040 Brian Teft. 0:07:39.400 --> 0:07:41.640 While they do what they do to make sure we 0:07:41.720 --> 0:07:44.640 can all make it home to our family safely, sometimes 0:07:44.640 --> 0:07:47.600 they don't make it home. So this research is all 0:07:47.640 --> 0:07:50.840 about understanding the risks that they face and figuring out 0:07:50.880 --> 0:07:52.880 what we can do to better protect them. 0:07:53.160 --> 0:07:56.080 The study finds eighty four percent of the crashes involving 0:07:56.160 --> 0:08:00.240 roadside assistance worker fatalities were in good weather conditions, no 0:08:00.320 --> 0:08:04.320 wet or slippery roads. Switching up arms for multi dose 0:08:04.480 --> 0:08:08.080 vaccines could improve immune response by up to four times. 0:08:08.320 --> 0:08:10.640 That's according to new research out of Oregon Health and 0:08:10.680 --> 0:08:14.320 Science University, which looked at how people received COVID nineteen 0:08:14.440 --> 0:08:17.600 vaccine shots, where searchers say it could have implications for 0:08:17.720 --> 0:08:20.920 other types of vaccines as well. Global News twenty four 0:08:20.920 --> 0:08:23.080 hours a day and whenever you want it with Bloomberg 0:08:23.120 --> 0:08:26.320 News Now. I'm Amy Morrison. This is Bloomberg Karen. 0:08:26.480 --> 0:08:28.240 All right, Amy, thank you what We bring you news 0:08:28.240 --> 0:08:30.880 throughout the day right here on Bloomberg Radio. But now 0:08:30.880 --> 0:08:33.199 you can get the latest news on demand whenever you 0:08:33.240 --> 0:08:36.079 want it. Just subscribe to Bloomberg News Now to get 0:08:36.080 --> 0:08:38.400 the latest headlines at the click of a button. Get 0:08:38.440 --> 0:08:41.200 informed on your schedule. You can listen and subscribe to 0:08:41.240 --> 0:08:45.000 Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com, 0:08:45.000 --> 0:08:50.520 plus apples, Spotify, and anywhere else you get your podcasts. 0:08:52.600 --> 0:08:55.560 Time for the Bloomberg Sports Update with John stash Hour. 0:08:55.440 --> 0:08:58.280 John darn The Edmonton Oilers have not lost the game 0:08:58.360 --> 0:09:02.080 since December nineteenth. Their sixteen game winning stree came to 0:09:02.120 --> 0:09:04.200 an end, losing three to one at Vegas. 0:09:04.320 --> 0:09:06.079 They fall just short of time. 0:09:06.520 --> 0:09:10.040 The NHL's all time record still belongs to the Pittsburgh Penguins, 0:09:10.160 --> 0:09:13.320 who won seventeen in a row in nineteen ninety three. 0:09:13.440 --> 0:09:15.719 Bruins lost at home to Calgary four to one, and 0:09:15.800 --> 0:09:18.760 the Capitols lost at home to Montreal five to two. 0:09:18.920 --> 0:09:21.360 Kyrie Irving, back in Brooklyn, spent three and a half 0:09:21.480 --> 0:09:24.480 years with the Nets. A lot of controversies there, didn't 0:09:24.480 --> 0:09:28.680 get vaccinated, tweeted a link to an antisemitic film. Forced 0:09:28.679 --> 0:09:30.839 to trade to Dallas. He scored thirty six points for 0:09:30.920 --> 0:09:33.240 the MAVs. They beat the Nets one nineteen to one 0:09:33.320 --> 0:09:37.360 oh seven. Luka Domsic had thirty five points, eighteen rebounds 0:09:37.400 --> 0:09:38.280 and nine as six. 0:09:38.760 --> 0:09:39.680 Couple of changes for. 0:09:39.679 --> 0:09:42.840 The All Star rosters as Joe l Embiid and Julius 0:09:42.920 --> 0:09:45.120 Randall are both injured and can't wway, so they'll be 0:09:45.160 --> 0:09:49.080 replaced by Trey Young and Scotty Barnes. Clayton Kershaw will 0:09:49.120 --> 0:09:51.880 return to the Dodgers for a seventeen season at the 0:09:51.880 --> 0:09:54.520 age of thirty five. He had a great twenty twenty 0:09:54.520 --> 0:09:57.280 three in the regular season and then got lit up 0:09:57.280 --> 0:10:00.360 in his one postseason start. Gave up six runs and 0:10:00.440 --> 0:10:03.400 only got one out Kurshross. Coming off shoulder surgery, he 0:10:03.520 --> 0:10:07.520 likely won't pitch until July. College oops Yukon's number one 0:10:07.520 --> 0:10:09.520 and prove it to twenty one and two eleven and 0:10:09.600 --> 0:10:11.800 one of the Big East. Husky's beat Butlers seventy one 0:10:11.800 --> 0:10:14.800 to sixty two. The upset was in the ACC Clemson 0:10:14.880 --> 0:10:17.320 was up by sixteen held on to beat North Carolina 0:10:17.400 --> 0:10:20.240 eighty to seventy six. The Tigers are now two and 0:10:20.440 --> 0:10:24.000 fifty one in their history. Playing at Chapel Hill. Johns 0:10:24.040 --> 0:10:25.679 stash that were Bloomberg's. 0:10:25.120 --> 0:10:30.640 Ft from coast to coast, from New York to San Francisco, 0:10:30.960 --> 0:10:36.040 Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business 0:10:36.040 --> 0:10:39.720 app in Bloomberg dot Com. This is Bloomberg Daybreak. 0:10:40.840 --> 0:10:43.959 Good morning, I'm Nathan Hager. Divided government is nothing new 0:10:44.000 --> 0:10:46.320 in Washington, d C. But this morning there are even 0:10:46.360 --> 0:10:50.200 more cracks on multiple fronts. A bipartisan deal on Ukraine, 0:10:50.240 --> 0:10:53.040 ad and border security looks all but dead in the Senate. 0:10:53.400 --> 0:10:57.120 A bid to impeach Homeland Security Secretary Alejandro Mayorcis has 0:10:57.160 --> 0:11:00.080 gone down in a surprise defeat in the House. The 0:11:00.120 --> 0:11:03.720 presidential race, Nikki Hayley has taken an embarrassing loss in 0:11:03.760 --> 0:11:07.960 the largely symbolic Republican primary in Nevada. Lots to discuss 0:11:08.000 --> 0:11:10.600 in politics. Let's do it now with Greg Valier, chief 0:11:10.720 --> 0:11:14.320 US policy strategist at AGF Investments. Greg, good morning, saw 0:11:14.320 --> 0:11:17.199 your note this week that Congress has hit rock bottom. 0:11:17.240 --> 0:11:21.080 When the border security Ukraine deal looked on the brink 0:11:21.160 --> 0:11:23.600 in the Senate. Do you have a new support level 0:11:23.600 --> 0:11:25.000 for US politics this morning? 0:11:26.760 --> 0:11:30.120 Good morning, Nathan. Now, it's pretty difficult to get much 0:11:30.160 --> 0:11:33.160 lower than they are right now. It's an embarrassment. They're 0:11:33.240 --> 0:11:37.320 dysfunctional and sadly, I don't see a lot of improvement 0:11:37.640 --> 0:11:40.360 as we head to the next crisis, which is end 0:11:40.360 --> 0:11:44.679 of February early March on getting a budget before. 0:11:44.320 --> 0:11:46.680 We get to that point. I mean, we do get 0:11:46.720 --> 0:11:50.160 closer to that government shut down deadline, but what is 0:11:50.240 --> 0:11:54.160 going on when it comes to the paralysis we saw? 0:11:54.480 --> 0:11:57.560 And this bypart is in deal. We heard President Biden 0:11:57.679 --> 0:12:02.520 yesterday calling on Republicans to show some against former President Trump. 0:12:02.600 --> 0:12:05.480 Is this all about his influence on the GOP? 0:12:07.040 --> 0:12:10.520 I think two things, Nathan. First of all, the new 0:12:10.559 --> 0:12:13.240 Speaker of the House, who's a rookie who's feeling his 0:12:13.320 --> 0:12:20.360 way around Capitol Hill, Mike Johnson, is trying to assert 0:12:20.440 --> 0:12:24.520 himself and it's not easy. The bigger story, in my opinion, 0:12:24.559 --> 0:12:28.839 involves Donald Trump, who is calling the shots. Incredibly, eight 0:12:28.920 --> 0:12:32.640 or nine months before the election, Trump is calling the shots. 0:12:32.679 --> 0:12:36.480 You've got a weakened Senate majority leader in Mitch McConnell, 0:12:36.520 --> 0:12:39.719 and you've got Mike Johnson, and neither of them are 0:12:40.120 --> 0:12:43.160 capable of getting a deal. So Trump is in the picture. 0:12:44.520 --> 0:12:48.679 With Trump in the picture, let's talk about this government 0:12:48.760 --> 0:12:51.880 shut down deadline. Does that raise the risk that we 0:12:51.920 --> 0:12:54.600 could see a shut down if the former president does 0:12:54.640 --> 0:12:56.800 continue to assert his influence on Capitol Hill. 0:12:57.840 --> 0:13:00.319 Yeah, there's a risk if he comes out out and 0:13:00.880 --> 0:13:04.800 asserts that we must have a setdown, that would influence 0:13:05.320 --> 0:13:07.800 a lot of people. I still think though the more 0:13:08.000 --> 0:13:11.920 likely outcome THEES once again kick the can, kick the 0:13:11.960 --> 0:13:15.600 can down the road and have another extension well into 0:13:15.640 --> 0:13:19.679 the spring. There are many people in the House who 0:13:19.720 --> 0:13:24.280 wouldn't mind having just one extension after another through the 0:13:24.320 --> 0:13:26.880 fiscal year, which ends on September thirty. 0:13:27.559 --> 0:13:31.400 What does this impass on border security and Ukraine aid 0:13:31.520 --> 0:13:35.320 mean politically for President Biden. We've seen swing state polling 0:13:35.320 --> 0:13:37.640 from Bloomberg News in Morning Consult that shows that the 0:13:37.679 --> 0:13:41.240 imrogration issue is a vulnerability for the president. With this 0:13:41.280 --> 0:13:43.040 deal not getting through, what does that mean for the 0:13:43.040 --> 0:13:43.920 president politically? 0:13:45.080 --> 0:13:48.400 Nothing good, and it certainly makes our allies around the 0:13:48.440 --> 0:13:52.480 world nervous. Vladimir Putin has said for quite some time 0:13:52.880 --> 0:13:56.280 that the US is not a dependable ally. Well, we're 0:13:56.280 --> 0:13:59.040 seeing now that maybe we are not a dependable ally 0:13:59.080 --> 0:14:00.640 and that doesn't help Joe Biden. 0:14:01.600 --> 0:14:05.520 And when it comes to the assertion of House Speaker 0:14:05.559 --> 0:14:08.600 Mike Johnson's influence, we saw more evidence of just how 0:14:08.600 --> 0:14:13.040 difficult that's been with this surprise defeat for the impeachment 0:14:13.120 --> 0:14:17.320 articles he's been pushing against Homeland Security Secretary Alejandro Mayorcis. 0:14:17.480 --> 0:14:20.120 How surprised were you by that going down and defeat 0:14:20.200 --> 0:14:20.640 last night? 0:14:21.440 --> 0:14:24.400 Not terribly so. I thought a few Republicans would waiver 0:14:24.600 --> 0:14:28.040 and vote against. But I tell you, Nathan, this new 0:14:28.080 --> 0:14:31.400 Speaker Johnson is on thin ice if he can't get 0:14:31.440 --> 0:14:34.400 a budget deal. If he decides he's got to go 0:14:34.440 --> 0:14:37.360 with some Democrats to get a deal done, I think 0:14:37.440 --> 0:14:40.240 the right wing in the House could give in the boot. 0:14:41.520 --> 0:14:44.720 How likely do you think that is when we've seen 0:14:45.680 --> 0:14:49.520 multiple speaker Well we had a former Speaker Kevin McCarthy 0:14:49.600 --> 0:14:52.560 last not that long. But do the Republicans really want 0:14:52.600 --> 0:14:56.520 to go through another speakership fight with so much difficulty 0:14:56.520 --> 0:14:58.280 getting any policy done in Washington? 0:14:59.280 --> 0:15:04.400 Yeah, it's mind boggling. It makes no logical sense. But 0:15:04.680 --> 0:15:07.680 you know, since when did logical sense domine Washington. It's 0:15:07.680 --> 0:15:11.560 been a very dysfunctional period, and sadly, I don't see 0:15:11.600 --> 0:15:13.680 the dysfunction ending anytime soon. 0:15:14.840 --> 0:15:17.880 In our last thirty seconds here, Greg, let's talk about 0:15:17.880 --> 0:15:21.320 the presidential race as well. The symbolic defeat for Nikki 0:15:21.400 --> 0:15:24.800 Haley in Nevada. Is it just symbolic or does it 0:15:24.840 --> 0:15:28.120 have implications for her going into South Carolina later this month? 0:15:28.880 --> 0:15:31.520 Pretty much symbolic, but it's not a good headline for 0:15:31.600 --> 0:15:34.760 her today, and she's not going to win in South 0:15:34.800 --> 0:15:38.800 Carolina in my opinion. She's got until Super Tuesday, March fifth. 0:15:39.160 --> 0:15:42.200 She wins a primary or two or three on March fifth, 0:15:42.680 --> 0:15:45.040 she's back in the picture, but I'm not sure she's 0:15:45.040 --> 0:15:48.320 going to win any primaries then, and once those primaries 0:15:48.360 --> 0:15:51.920 are over, I think Trump becomes the presumptive nominee by 0:15:51.960 --> 0:15:52.560 mid March. 0:15:54.560 --> 0:15:57.640 This is Bloomberg Daybreak Today, your morning brief on the 0:15:57.680 --> 0:16:01.120 story's making news from Wall Street to Washington and beyond. 0:16:01.360 --> 0:16:04.120 Look for us on your podcast feed at six am 0:16:04.200 --> 0:16:07.880 Eastern each morning on Apple, Spotify, and anywhere else you 0:16:07.920 --> 0:16:08.960 get your podcasts. 0:16:09.200 --> 0:16:11.920 You can also listen live each morning starting at five 0:16:11.960 --> 0:16:14.600 am Wall Street time on Bloomberg eleven three to zero 0:16:14.600 --> 0:16:18.080 in New York, Bloomberg ninety nine one in Washington, Bloomberg 0:16:18.080 --> 0:16:21.120 one oh sixty one in Boston, and Bloomberg nine sixty 0:16:21.240 --> 0:16:22.200 in San Francisco. 0:16:22.560 --> 0:16:25.720 Our flagship New York station is also available on your 0:16:25.760 --> 0:16:31.200 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:16:31.240 --> 0:16:34.640 Listen coast to coast on the Bloomberg Business app, SERIUSXM, 0:16:34.760 --> 0:16:39.040 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager. 0:16:38.800 --> 0:16:40.080 And I'm Karen Moscow. 0:16:40.200 --> 0:16:42.960 Join us again tomorrow morning for all the news you 0:16:43.080 --> 0:17:01.680 need to start your day right here on Bloomberg Daybreak