Key White House Meeting; Biden Optimism on Cease-Fire

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:09.480 --> 0:00:12.719 Good morning, I'm Nathan Hager and I'm Amy Morris. Here 0:00:12.760 --> 0:00:14.680 are the stories we're following today. 0:00:15.040 --> 0:00:18.400 We begin in Washington, where another partial government shut down 0:00:18.400 --> 0:00:22.040 deadline is fast approaching. Lawmakers have till midnight Friday to 0:00:22.079 --> 0:00:25.960 reach an agreement on four of their twelve annual funding bills. Today, 0:00:26.000 --> 0:00:28.520 President Biden is meeting with congressional leaders to try to 0:00:28.560 --> 0:00:31.640 break the impass and unlock billions of dollars in farn aid. 0:00:31.840 --> 0:00:34.440 Senate Majority Leader Chuck Schumer says he is hopeful they 0:00:34.479 --> 0:00:35.400 can get to a deal. 0:00:35.760 --> 0:00:39.760 While we've made some good progress and a number of fronts, Unfortunately, 0:00:39.840 --> 0:00:43.880 our House Republican colleagues are still struggling to figure themselves out. 0:00:44.600 --> 0:00:47.080 There's a lot of uncertainty over how the House will 0:00:47.120 --> 0:00:48.479 proceed in the coming days. 0:00:49.760 --> 0:00:50.159 Till then. 0:00:50.320 --> 0:00:54.280 Majority Leader Chuck Schumer's telling senators to keep their schedules flexible. 0:00:54.760 --> 0:00:57.480 Meanwhile, a deal may be getting closer in the Middle East, 0:00:57.520 --> 0:01:00.920 as Bloomberg's head Baxter reports their new hope for a 0:01:01.000 --> 0:01:03.600 ceasefire between Israel and Hamas. 0:01:03.600 --> 0:01:06.279 President Joe Biden says he hopes that cees fire between 0:01:06.360 --> 0:01:08.959 Israel and Hamas can take effect by early next week, 0:01:09.040 --> 0:01:11.520 and that security advisor tells me that we're close. 0:01:11.680 --> 0:01:14.280 We're close and not done yet, and my hope is 0:01:14.400 --> 0:01:16.120 by next Monday we'll have. 0:01:16.200 --> 0:01:16.880 To cease fire. 0:01:17.040 --> 0:01:19.880 And State Department spokes from Matthew Miller says details are 0:01:19.920 --> 0:01:21.800 being worked out for the hostage release. 0:01:21.880 --> 0:01:22.840 It depends on Hamas. 0:01:23.120 --> 0:01:25.240 We believe a deal as possible and we hope AMAS 0:01:25.240 --> 0:01:26.120 will greet you one. 0:01:26.000 --> 0:01:28.800 And they hope to have the final plan by the weekend. 0:01:29.480 --> 0:01:31.160 Ed Baxter, Bloomberg Radio. 0:01:30.959 --> 0:01:33.160 All right, ed, thank you now. President Biden's support for 0:01:33.240 --> 0:01:35.920 Israel is threatening his own political support as he ramps 0:01:36.000 --> 0:01:39.279 up his reelection campaign. Michigan is holding its primary today. 0:01:39.560 --> 0:01:43.000 Much of that state's Arab American population blames Biden for 0:01:43.080 --> 0:01:46.320 failing to stop the war in Gaza. There's a grassroots 0:01:46.400 --> 0:01:49.760 push in Michigan to vote uncommitted instead of for Biden 0:01:49.800 --> 0:01:52.360 today to send him a message about his handling of 0:01:52.360 --> 0:01:52.960 the crisis. 0:01:53.440 --> 0:01:56.080 Meanwhile, the President was in New York City last night 0:01:56.120 --> 0:01:59.240 for campaign events, and he took on the age question 0:01:59.600 --> 0:02:03.080 during an appearance on NBC's Late Night with Seth Myers. 0:02:03.480 --> 0:02:06.440 It's about how old your ideas are look. I mean, 0:02:06.800 --> 0:02:08.480 this is a guy who wants to take us back. 0:02:08.480 --> 0:02:10.240 He wants to take us back on Roe v. Wade, 0:02:10.240 --> 0:02:12.480 he wants to take us back on a whole range 0:02:12.520 --> 0:02:15.480 of issues that were fifty sixty years they've been solid 0:02:15.560 --> 0:02:16.880 American positions. 0:02:17.480 --> 0:02:20.480 The president also referred to an episode where former President 0:02:20.520 --> 0:02:23.440 Trump appeared to call his wife by a different name, 0:02:23.680 --> 0:02:25.840 although he may have been referring to someone else in 0:02:25.880 --> 0:02:28.840 the crowd at that event. An NBC News poll from 0:02:28.919 --> 0:02:32.240 January found three and four voters had concerns about Biden 0:02:32.320 --> 0:02:35.400 age Biden's age, less than half said the same about 0:02:35.440 --> 0:02:36.160 Donald Trump. 0:02:36.280 --> 0:02:38.360 H let's turn back to markets now. Amy, for the 0:02:38.400 --> 0:02:41.640 first time in more than two years, bitcoin is past 0:02:41.720 --> 0:02:44.080 the fifty seven thousand level. Let's get the latest now 0:02:44.080 --> 0:02:45.919 from Bloomberg's John Tucker, John. 0:02:45.840 --> 0:02:48.760 And Nathan introduction of those bitcoin ETFs earlier this year, 0:02:48.800 --> 0:02:50.720 and that's a big part of the reason for this jump. 0:02:51.080 --> 0:02:54.560 Six point one billion dollars says poured into bitcoin to ETFs. 0:02:54.800 --> 0:02:57.640 They began trading of the US on January eleventh. We 0:02:57.680 --> 0:03:00.320 also have this upcoming of reduction in bitcoin, so apply 0:03:00.440 --> 0:03:04.440 growth the having a micro strategy and enterprise software firm 0:03:04.480 --> 0:03:08.360 says it's purchased another three thousand or so tokens this month. 0:03:08.919 --> 0:03:12.680 Bitcoin has outperformed traditional assets like stocks and gold this year. 0:03:13.040 --> 0:03:16.919 Shares of cryptorelated companies also gained in yesterday's trading. Trading 0:03:16.919 --> 0:03:22.000 platform coinbased Global, for instance, increase seventeen percent. Bitcoin has 0:03:22.080 --> 0:03:25.040 paired some of the earlier gains, now just under fifty 0:03:25.040 --> 0:03:28.519 seven thousand dollars per token. I'm John Tucker, Bloomberg Radio. 0:03:29.080 --> 0:03:31.320 All right, thank you, John, and bitcoin not the only 0:03:31.360 --> 0:03:34.160 thing on the rise this morning. Shares of Zoom Video 0:03:34.280 --> 0:03:36.720 are up more than ten percent in early trading. We 0:03:36.800 --> 0:03:39.240 get that story from Bloomberg's Kimberly Adams. 0:03:39.280 --> 0:03:42.560 The video conference provider reported quarterly sales and profit that 0:03:42.600 --> 0:03:45.760 top analyst estimate. Zoom also announced a one point five 0:03:45.880 --> 0:03:49.680 billion share buyback. After hypergrowth during the pandemic, Zoom had 0:03:49.760 --> 0:03:54.080 experienced a dramatic sales slowdown, a mid competition for business customers, 0:03:54.200 --> 0:03:57.240 and the departure of consumers from the video conferencing platform. 0:03:57.440 --> 0:04:00.440 In the hopes of capturing more corporate client, Zoom has 0:04:00.440 --> 0:04:04.080 expanded its product line to include phone systems, call centers, 0:04:04.080 --> 0:04:08.040 and AI assistants. Zoom says contact center licenses have tripled 0:04:08.040 --> 0:04:10.520 over the last year, and about half a million accounts 0:04:10.600 --> 0:04:14.280 enabled Zoom's AI free companion. Kimberly Adams, Bloomberg Radio. 0:04:14.440 --> 0:04:17.520 All right, Kim, thanks, we'll talk about trading places. Bloomberg 0:04:17.560 --> 0:04:20.680 News has learned the fast fashion company Shan is considering 0:04:20.720 --> 0:04:24.000 the possibility of switching its initial public offering to London 0:04:24.120 --> 0:04:26.800 from New York because of hurdles getting it listed in 0:04:26.839 --> 0:04:29.840 the US. We get more from Bloomberg Markets reporter Sam Onstead. 0:04:30.240 --> 0:04:32.640 It would be an enormous IPO. I mean, even at 0:04:32.640 --> 0:04:34.640 the lower end of their valuation, they would be about 0:04:34.640 --> 0:04:37.120 the sixteen seventeenth biggest company in London if they did 0:04:37.160 --> 0:04:39.400 list Their first choice very much New York, as it 0:04:39.400 --> 0:04:42.160 should be the tech driven retailer, so their evaluation will 0:04:42.160 --> 0:04:44.279 be a lot higher, their liquidity pools a lot higher. 0:04:44.279 --> 0:04:46.159 But they think there's going to be issues in getting 0:04:46.160 --> 0:04:48.480 past the SEC. So it may well be that what 0:04:48.520 --> 0:04:51.200 you see here if they do indeed choose London instead 0:04:51.200 --> 0:04:53.200 of say, Hong Kong or Singapore, is they get the 0:04:53.279 --> 0:04:57.440 listing done but don't necessarily particularly love being here, may 0:04:57.480 --> 0:05:00.359 well eventually kind of shift themselves over to EY the 0:05:00.360 --> 0:05:03.320 new York, Hong Kong, Singapore Lodge of Markets with molliquincy. 0:05:03.560 --> 0:05:06.200 Bloomberg Markets reporter Samunce said they're in London. He notes 0:05:06.240 --> 0:05:09.080 shay And was founded in China but is now headquartered 0:05:09.120 --> 0:05:09.880 in Singapore. 0:05:10.480 --> 0:05:13.760 Turning to the economy, another FED official urging caution when 0:05:13.760 --> 0:05:16.880 it comes to cutting interest rates, Kansas City FED President 0:05:17.000 --> 0:05:20.479 Jeffrey Schmid says the central bank should be patient with 0:05:20.560 --> 0:05:23.080 inflation above the FEDS two percent target and the job 0:05:23.120 --> 0:05:26.679 market still strong. In his first major speech since taking 0:05:26.720 --> 0:05:29.320 the job six months ago, Schmid also said he is 0:05:29.360 --> 0:05:31.800 in no hurry to stop the ongoing reduction of the 0:05:31.839 --> 0:05:32.800 fed's balance sheet. 0:05:33.040 --> 0:05:35.760 In Asia, Japan's two year bond yield climbed to its 0:05:35.839 --> 0:05:38.560 highest level in more than a decade. Stronger than expected 0:05:38.600 --> 0:05:41.080 inflation data are boosting bets that the Bank of Japan 0:05:41.160 --> 0:05:44.440 will end its negative interest rate policy in coming months. 0:05:44.560 --> 0:05:47.000 And in China, state back buns have poured more than 0:05:47.040 --> 0:05:50.080 fifty seven billion dollars into onshore shares this year in 0:05:50.120 --> 0:05:52.359 a bid to prop up the market. That's according to 0:05:52.520 --> 0:05:56.599 estimates by UBS, which expects further purchases. The Swiss Bank 0:05:56.640 --> 0:05:59.200 says more than seventy five percent of the inflows when 0:05:59.279 --> 0:06:02.880 into products tracking the benchmark CSI three hundred. 0:06:02.560 --> 0:06:05.880 Index, and Ali Baba has led the largest single financing 0:06:05.960 --> 0:06:09.680 round for a Chinese artificial intelligence startup. It's the latest 0:06:09.680 --> 0:06:12.440 in a string of sizable investments that suggests the e 0:06:12.480 --> 0:06:15.599 commerce firm is again deploying capital in the hunt for growth. 0:06:15.600 --> 0:06:18.800 Ali Baba led a billion dollar funding round in Moonshot, 0:06:18.880 --> 0:06:22.039 Ai that is one of the better known startups developing 0:06:22.120 --> 0:06:24.640 generative artificial intelligence in China. 0:06:24.920 --> 0:06:27.719 And in Europe. Bloomberg News has learned the UK's Chancellor 0:06:27.760 --> 0:06:30.719 of the Exchequer, Jeremy Haunt mayan alsa new tax on 0:06:30.839 --> 0:06:33.599 vapes in his budget next week. The levy would apply 0:06:33.640 --> 0:06:37.359 to both manufacturers and importers. It's being considered part of 0:06:37.560 --> 0:06:40.599 Prime Minister Regis Suneck's efforts to crack down on vaping 0:06:40.640 --> 0:06:42.840 and smoking to protect children's health. 0:06:46.040 --> 0:06:47.240 Time now to take a look at some of the 0:06:47.279 --> 0:06:49.600 other stories making news in New York and around the world, 0:06:49.600 --> 0:06:51.560 and for that we're joined by Bloomberg's Michael Bark. 0:06:51.560 --> 0:06:54.560 Good Morning, Michael, Good Morning. Nathan. Reaction comes in as 0:06:54.560 --> 0:06:59.080 Sweden is now set to follow Finland's footsteps and join NATO. 0:06:59.520 --> 0:07:03.880 Approval from Hungary's parliament mark the thirty first and final 0:07:03.920 --> 0:07:07.039 member to admit Sweden. It strengthens the alliance in the 0:07:07.080 --> 0:07:11.040 face of Russia's war with Ukraine. Former US Ambassador to 0:07:11.120 --> 0:07:12.920 NATO Ivo Dalder. 0:07:13.520 --> 0:07:16.520 It now brings NATO closer to Russia's border. Remember the 0:07:16.560 --> 0:07:19.640 war when the Ukraine was ostensibly started to prevent NATO 0:07:19.680 --> 0:07:22.040 from coming closer to Russia's border. Well, one way in 0:07:22.080 --> 0:07:24.920 which you bring NATO closer is when you start attacking 0:07:25.480 --> 0:07:27.080 other countries and invading them. 0:07:27.160 --> 0:07:30.840 Sweden decided to leave behind two hundred years of neutrality 0:07:31.000 --> 0:07:35.040 after Russia invaded Ukraine. Donald Trump's lawyers have filed a 0:07:35.120 --> 0:07:37.400 notice of appeal and his four hundred and fifty four 0:07:37.400 --> 0:07:41.400 million dollar New York civil fraud judgment challenging a judge 0:07:41.440 --> 0:07:44.800 is finding that he lied about his wealth as he 0:07:44.840 --> 0:07:48.160 grew his real estate empire. Meanwhile, ahead of Trump's first 0:07:48.200 --> 0:07:52.200 criminal trial, Manhattan District Attorney Alvin Bragg is asking a 0:07:52.280 --> 0:07:55.800 judge to impose a partial gag order on the former president. 0:07:56.600 --> 0:07:59.640 Questions over immigration continue in the case of a nursing 0:07:59.680 --> 0:08:03.360 student murdered on the University of Georgia campus last week. 0:08:03.680 --> 0:08:07.280 The older brother of the man charged allegedly showed a 0:08:07.320 --> 0:08:11.000 fake green card to police as they investigated the woman's death. 0:08:11.400 --> 0:08:14.880 Both men are from Venezuela. Governor Brian Kemp is demanding 0:08:14.920 --> 0:08:18.160 answers from President Biden and immigration authorities. 0:08:18.400 --> 0:08:23.200 She deserves justice, her family deserves justice, and we need 0:08:23.360 --> 0:08:25.880 justice on a national level to prevent this type of 0:08:25.920 --> 0:08:27.160 thing from happening again. 0:08:27.720 --> 0:08:30.680 The older brother has been arrested by Georgia authorities and 0:08:30.720 --> 0:08:33.920 the younger brother accused of murder has been under arrest 0:08:34.000 --> 0:08:36.520 in New York City and at the border, but they 0:08:36.559 --> 0:08:40.920 were parolled or released before customs enforcement agents could step in. 0:08:41.600 --> 0:08:44.480 The DEA is cracking down on the use of pill 0:08:44.600 --> 0:08:48.679 presses in its efforts to fight the fentanyl crisis. It 0:08:48.760 --> 0:08:52.000 warns e commerce sites to regulate purchases of the presses 0:08:52.080 --> 0:08:55.240 under current law. In a duplex turned drug lab in 0:08:55.320 --> 0:08:59.320 New York City, DEA administrator and Milgrim says agents sees 0:08:59.440 --> 0:09:04.080 presses along with two hundred thousand suspected fentanyl pills. 0:09:04.480 --> 0:09:06.840 In the last six months, We've seized pill presses in 0:09:06.880 --> 0:09:10.319 New York, in Massachusetts, in Mississippi, in Kentucky. 0:09:10.360 --> 0:09:12.040 It's an industrial machine. 0:09:12.400 --> 0:09:15.560 The DEA's Dan Milgrim says many of the machines arepurchased 0:09:15.559 --> 0:09:18.800 online for as little as forty bucks. Students at New 0:09:18.840 --> 0:09:21.120 York City is Albert Einstein School of Medicine got to 0:09:21.120 --> 0:09:25.720 welcome surprise. Longtime Board of Trustees chairwoman doctor Ruth Goutnisman 0:09:26.320 --> 0:09:29.520 is gifting the school one billion dollars to make tuition 0:09:29.679 --> 0:09:34.520 free for current four year students and every student enrolling 0:09:34.559 --> 0:09:37.680 in the future. Doctor Goutnisman made the huge donation in 0:09:37.720 --> 0:09:40.640 the name of her late husband, David Sandy Gottisman, who 0:09:40.720 --> 0:09:44.280 was an early investor in Berkshire Hathaway Global. Eing was 0:09:44.280 --> 0:09:46.040 twenty four hours a day and whenever you want it 0:09:46.040 --> 0:09:49.040 with Bloomberg News Now, I'm Michael Barr. This is Bloomberg Navan. 0:09:49.080 --> 0:09:56.360 All right, Michael, thanks time now for the Bloomberg Sports update, 0:09:56.400 --> 0:09:58.320 brought to you by Tri State OWD. He here's John 0:09:58.320 --> 0:09:58.880 stash Ower. 0:09:58.880 --> 0:10:01.280 Actually, the troit since came into the garden an NBA 0:10:01.360 --> 0:10:03.680 worst eight and forty eight. This figured to be an 0:10:03.720 --> 0:10:05.800 easy win for the next It was not. In fact, 0:10:05.840 --> 0:10:07.840 they trailed on the waning seconds when there was a 0:10:07.880 --> 0:10:11.480 wild sequence that included what the officials later admitted was 0:10:11.520 --> 0:10:14.839 a missed call. Dante Devincenzo should have been whistled for 0:10:14.880 --> 0:10:17.360 a loose ball foul. Detroit should have been at the 0:10:17.440 --> 0:10:20.040 line up by one. Instead, it was a turnover that 0:10:20.200 --> 0:10:22.480 led to Josh Hart's game winning layup with two seconds 0:10:22.559 --> 0:10:25.480 left the Knicks one one thirteen to one eleven. Here 0:10:25.520 --> 0:10:27.640 was Pistons coach Monty Williams after the. 0:10:27.600 --> 0:10:31.040 Game, we had a chance to win the game and 0:10:31.080 --> 0:10:33.679 the guy dove into a sar's legs and there was 0:10:33.720 --> 0:10:39.040 a no call. That that's an abomination. You cannot miss 0:10:39.080 --> 0:10:41.559 that in an NBA game, And I'm tired of talking 0:10:41.600 --> 0:10:44.959 about it. I'm tired of our guys asking me what 0:10:45.040 --> 0:10:45.640 more can we do? 0:10:45.760 --> 0:10:46.080 Coach. 0:10:46.679 --> 0:10:50.640 That situation is exhibit A to what we've been dealing 0:10:50.679 --> 0:10:51.440 with all season. 0:10:51.480 --> 0:10:51.720 Loss. 0:10:51.760 --> 0:10:54.440 Jalen Brunson led the next thirty five points, Cade Cunningham 0:10:54.480 --> 0:10:57.240 thirty two for Detroit and Memphis seven nets and double figures. 0:10:57.280 --> 0:11:00.880 They won easily, won eleven to eighty six seventh wins 0:11:00.920 --> 0:11:03.040 in late December, the first the new coach Kevin Ollie 0:11:03.040 --> 0:11:06.000 in Dallas, Poe horvat Sjordan overtime, Islanders won three to 0:11:06.040 --> 0:11:07.960 two in Seattle. The Bruins got a hat trick from 0:11:08.000 --> 0:11:11.520 David Posternach but lost in a shootout. Colleges North Carolina 0:11:11.600 --> 0:11:14.240 top Miami. And for the Tarios, R J. Davis forty 0:11:14.280 --> 0:11:17.880 two points, the most ever scored at the Heels home arena, 0:11:17.920 --> 0:11:21.120 and Tampa Nester Cortez, injured much the last season, took 0:11:21.160 --> 0:11:23.839 them out, gave up seven hits in less than three innings. 0:11:23.880 --> 0:11:25.880 The Yanks did beat the Twins. The Mets beat the 0:11:25.920 --> 0:11:29.640 Nationals Grand Slam for Trace Thompson. That's Clay's younger brother. 0:11:29.920 --> 0:11:32.439 First NFL team to give a player the franchise tag 0:11:32.600 --> 0:11:35.960 Cincinnati and whiteout t Higgins. The Giants, who franchised Saquon 0:11:36.040 --> 0:11:38.720 Barkley last year, could do it again, but are not 0:11:38.800 --> 0:11:40.800 expected to, which would make him a free agent. The 0:11:40.880 --> 0:11:43.760 NFL says it will not change the rule that when 0:11:43.760 --> 0:11:47.080 a player fumbles into the end zone, the team loses possession. 0:11:47.080 --> 0:11:49.200 It's only happened eight times in the last six years. 0:11:49.200 --> 0:11:52.400 It did happen in a recent playoff game. John Stashiawer 0:11:52.440 --> 0:11:55.280 Bloomberg Sports Nathan Okay, John, thank you. Let's get right 0:11:55.280 --> 0:11:57.479 back down to the risk coming out of Washington. 0:11:57.160 --> 0:11:57.400 D C. 0:11:57.559 --> 0:11:59.840 We are just about three days away from the next 0:12:00.040 --> 0:12:03.120 Martiall government shut down deadline, and today President Biden is 0:12:03.120 --> 0:12:05.520 calling Congressional leaders to the White House to try to 0:12:05.520 --> 0:12:08.240 get through the impass. But he's also got his own 0:12:08.280 --> 0:12:10.760 re election in mind, the trips of the Southern border 0:12:10.840 --> 0:12:13.559 later this week and stop at late night comedy last night. 0:12:13.600 --> 0:12:15.280 So let's get into it all now. We're joined by 0:12:15.360 --> 0:12:19.040 Terry Haynes, the founder of Pangea Policy. Terry, as we 0:12:19.080 --> 0:12:21.520 await this White House meeting, where would you put the 0:12:21.640 --> 0:12:23.880 risk of partial government shut down this morning? 0:12:25.000 --> 0:12:28.440 Oh? I think it's not likely to happen just yet, Nathan. 0:12:28.559 --> 0:12:30.920 You know, the one of the dynamics always is that, 0:12:31.760 --> 0:12:35.920 you know, they the self created crises, is that they 0:12:35.960 --> 0:12:38.960 go away, they come, they go away on a recess, 0:12:39.360 --> 0:12:41.720 they come back. It takes them a little while to 0:12:41.720 --> 0:12:44.160 figure out how to shuffle the cards and uh and 0:12:44.280 --> 0:12:49.679 start playing the game again. And short term funding extensions 0:12:49.679 --> 0:12:53.800 have already been bandied around in the House. You know, 0:12:53.880 --> 0:12:56.440 the situation is very volatile, but I would expect there 0:12:56.480 --> 0:12:59.800 to be a little bit of a little bit of 0:12:59.840 --> 0:13:03.120 an extension before they get to it. I would never 0:13:03.200 --> 0:13:08.280 underestimate the minority of House Republicans that I always call 0:13:08.320 --> 0:13:11.680 the purists, wanting to have a government shut down while 0:13:11.720 --> 0:13:14.600 the president's delivering a State of the Union address. But 0:13:14.679 --> 0:13:19.280 I think that's probably less likely right now, So I 0:13:19.360 --> 0:13:21.360 think we'll get a little bit of kicking a can 0:13:21.520 --> 0:13:23.040 before they get down to brass tacks. 0:13:23.600 --> 0:13:27.119 So is the bigger deadline than this April thirtieth deadline 0:13:27.160 --> 0:13:30.480 when we get across the board spending cuts, doesn't that 0:13:30.640 --> 0:13:34.120 become more likely a scenario that we just get to 0:13:34.160 --> 0:13:35.160 that point. 0:13:36.000 --> 0:13:43.400 Absolutely what the purists who paradoxically are doing more a 0:13:43.480 --> 0:13:46.240 little bit more of what markets might want than anybody else, 0:13:46.280 --> 0:13:50.400 because they're actually interested in cutting spending and at least 0:13:50.440 --> 0:13:52.640 looking like they're trying to get a fiscal handle on things. 0:13:53.640 --> 0:13:55.439 Not much of one, but a little bit is better 0:13:55.480 --> 0:13:59.360 than a little bit is distinguished from nothing. They have 0:13:59.440 --> 0:14:01.880 to basically have to do nothing, and they run up 0:14:01.880 --> 0:14:06.360 against this April thirtieth one percent cut across the board deadline, 0:14:06.360 --> 0:14:10.400 as you suggest, so it becomes they think their leverage 0:14:10.480 --> 0:14:13.679 grows the longer this goes on. And that's another reason 0:14:13.679 --> 0:14:16.040 why I think they probably kicked the can a little 0:14:16.080 --> 0:14:16.360 bit more. 0:14:17.160 --> 0:14:19.560 We heard from the President yesterday that he's hopeful that 0:14:19.640 --> 0:14:22.800 a ceasefire could be coming in Gaza by Monday. We've 0:14:22.800 --> 0:14:27.240 talked before about the difficulties that the President faces with 0:14:27.360 --> 0:14:30.760 his own base when it comes to his support for Israel. 0:14:30.800 --> 0:14:32.440 How could that play into what we see in the 0:14:32.480 --> 0:14:35.640 Michigan primary later today, with a state that has a 0:14:35.640 --> 0:14:37.680 pretty sizable Arab American population. 0:14:38.760 --> 0:14:43.280 Well, you've you've hit exactly on what the why the 0:14:43.320 --> 0:14:46.520 President all of a sudden is interested in providing Gaza 0:14:46.560 --> 0:14:50.360 ceasefire updates. You know, my view of this is pretty simple. 0:14:51.200 --> 0:14:55.120 You know, the President faces today in Michigan the possibility 0:14:55.520 --> 0:14:58.720 of having people vote uncommitted, meaning they're not going to 0:14:58.760 --> 0:15:00.640 vote for him or for anybody else, They're going to 0:15:00.680 --> 0:15:05.320 vote uncommitted. If that uncommitted reaches say, ten percent of 0:15:05.360 --> 0:15:09.440 the Michigan electorate, and that's certainly possible. You know, not 0:15:09.480 --> 0:15:12.680 even the governor of the state is saying, who's a Democrat, 0:15:12.760 --> 0:15:16.440 is saying that, you know, she thinks it's likely to 0:15:16.480 --> 0:15:19.280 be a tiny protest vote or anything like that. If 0:15:19.320 --> 0:15:22.640 it reaches double digits, that's going to shake the White 0:15:22.680 --> 0:15:25.040 House a little bit. I think the President would be 0:15:25.120 --> 0:15:27.840 very well served both this week and next week in 0:15:27.880 --> 0:15:30.880 the State of the Union, by you know, laying out 0:15:30.880 --> 0:15:33.800 exactly who were for, what we're for, and why we're for, 0:15:34.000 --> 0:15:38.160 both on Israel and Ukraine and Taiwan. This White House 0:15:38.160 --> 0:15:41.040 doesn't do that very much, but that time is nigh 0:15:41.040 --> 0:15:43.680 for him, both as a president and as a candidate. 0:15:44.040 --> 0:15:46.120 Just got thirty seconds left, Terry. But we heard the 0:15:46.160 --> 0:15:48.960 President take on the age question on late night TV 0:15:49.120 --> 0:15:50.760 last night. What did you make of a framing that 0:15:50.800 --> 0:15:52.520 it's not about how old you are, but about how 0:15:52.560 --> 0:15:53.920 old your ideas are. 0:15:55.160 --> 0:16:00.320 Well, you know, you got to You got to with 0:16:00.360 --> 0:16:02.840 what you got, and that's what he's got. So that's 0:16:02.840 --> 0:16:06.400 what he's leading with. But I'd urge the White House 0:16:06.400 --> 0:16:08.560 to work on the message a little bit because his 0:16:08.680 --> 0:16:11.400 next comment is, of course, the idea is the ideas 0:16:11.880 --> 0:16:15.200 are that he's defending our old two they've been around 0:16:15.200 --> 0:16:17.560 fifty sixty years. I think was the clip you guys 0:16:17.640 --> 0:16:21.360 just ran, so the and I'm not criticizing his defense 0:16:21.400 --> 0:16:24.440 of them. I'm just saying, you know, it's nice to 0:16:24.440 --> 0:16:26.040 be on television, but you got to do a little 0:16:26.080 --> 0:16:26.640 bit more than that. 0:16:29.840 --> 0:16:32.880 This is Bloomberg Daybreak today, your morning brief on the 0:16:32.920 --> 0:16:36.479 story's making news from Wall Street to Washington and beyond. 0:16:36.520 --> 0:16:39.520 Look for us on your podcast feed by six am 0:16:39.680 --> 0:16:43.840 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:43.920 --> 0:16:45.040 get your podcasts. 0:16:45.280 --> 0:16:48.000 You can also listen live each morning starting at five 0:16:48.040 --> 0:16:50.600 am Wall Street time on Bloomberg eleven three to zero 0:16:50.680 --> 0:16:53.560 in New York, Bloomberg ninety nine to one in Washington, 0:16:53.640 --> 0:16:56.840 Bloomberg one six to one in Boston, and Bloomberg ninety 0:16:56.840 --> 0:16:58.240 sixty in San Francisco. 0:16:58.440 --> 0:17:01.960 Our flagship New York State is also available on your 0:17:02.040 --> 0:17:07.520 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. 0:17:07.640 --> 0:17:12.520 Listen coast to coast on the Bloomberg Business app, Siriusxmbiheartradio app, 0:17:12.560 --> 0:17:14.240 and on Bloomberg dot com. 0:17:14.280 --> 0:17:17.720 I'm Nathan Hager, and I maybe Morris. Join us again 0:17:17.760 --> 0:17:20.680 tomorrow morning for all the news you need to start 0:17:20.720 --> 0:17:23.440 your day right here on Bloomberg Daybreak