Trump Barred in Colorado; Cease-Fire Speculation Grows

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 --> 0:00:07.400 stories we're following today. 0:00:07.600 --> 0:00:09.680 Karen will have more on the markets in a minute, 0:00:09.720 --> 0:00:12.000 but first, we have a major development in the race 0:00:12.039 --> 0:00:15.120 for the White House. The Colorado Supreme Court has ruled 0:00:15.160 --> 0:00:19.080 Donald Trump cannot appear on the presidential primary ballot in 0:00:19.120 --> 0:00:23.119 that state. We have team coverage beginning with Bloomberg's at Baxter. 0:00:23.320 --> 0:00:25.759 The ruling, while at the same time pausing it to 0:00:25.800 --> 0:00:29.000 allow the US Supreme Court to rule. The Colorado Court 0:00:29.040 --> 0:00:33.120 set under the Fourteenth Amendment, Trump qualified as an insurrectionist 0:00:33.200 --> 0:00:37.120 and therefore cannot hold office, thereby taking him off the ballot. 0:00:37.400 --> 0:00:40.159 So among the issues for the highest court whether Trump 0:00:40.280 --> 0:00:44.640 is actually an insurrectionist and whether the Fourteenth Amendment refers 0:00:44.680 --> 0:00:48.479 to the office of president. Trump's attorneys say they will appeal, 0:00:48.560 --> 0:00:53.120 and his campaign is issued a statement so reading verbatim here, Unsurprisingly, 0:00:53.560 --> 0:00:57.000 the all Democrat appointed Colorado Supreme Court has ruled against 0:00:57.000 --> 0:01:00.840 President Trump, supporting a Sorrow's funded li left wing group 0:01:00.960 --> 0:01:04.080 scheme to interfere in an election on behalf of crook 0:01:04.080 --> 0:01:07.800 of Joe Biden. For beatim from the statement ed Baxter 0:01:07.840 --> 0:01:08.720 Bloomberg Radio. 0:01:08.880 --> 0:01:11.600 All right, ed, thanks well. The Colorado decision comes just 0:01:11.760 --> 0:01:14.120 weeks before the first votes will be cast in the 0:01:14.160 --> 0:01:19.080 Republican presidential race. Bloomberg News Managing editor Derek Wallbank continues, 0:01:19.120 --> 0:01:20.840 our team coverage. 0:01:20.440 --> 0:01:23.440 Trump will be going before voters in the first primary 0:01:23.440 --> 0:01:28.080 state of Iowa, where they have caucuses, and Trump is 0:01:28.280 --> 0:01:32.000 right now well above fifty percent support in Iowa. He's 0:01:32.040 --> 0:01:34.560 got a thirty point plus lead in the polls, and 0:01:34.640 --> 0:01:37.720 so very soon the decision that was taken in Colorado 0:01:37.800 --> 0:01:40.760 will come into immense conflict with the state of Iowa, 0:01:40.800 --> 0:01:43.800 where he is right now polling like he's going to win. 0:01:44.200 --> 0:01:48.000 And Bloomberg's Derek Wallbank notes those Iowa caucuses are less 0:01:48.000 --> 0:01:49.760 than four weeks away. 0:01:49.720 --> 0:01:53.000 And former President Trump was back in Iowa last night, Karen. 0:01:53.080 --> 0:01:56.000 He didn't mention the Colorado ruling, but he did double 0:01:56.080 --> 0:01:59.000 down on anti immigrant rhetoric that's had members of both 0:01:59.040 --> 0:02:01.440 parties comparing his words to Adolf Hitler. 0:02:01.720 --> 0:02:06.080 They're ruining our country, and it's true. They're destroying the 0:02:06.120 --> 0:02:09.120 blood of our country. That's what they're doing. They're destroying 0:02:09.240 --> 0:02:11.520 our country. They don't like it when I said that, 0:02:11.639 --> 0:02:15.240 and I never read mind com they said, Oh, Hitler 0:02:15.280 --> 0:02:18.520 said that in a much different way. Now they're coming 0:02:18.560 --> 0:02:19.760 from all over the world. 0:02:20.080 --> 0:02:23.280 The former president made those comments at a stop in Waterloo, Iowa, 0:02:23.520 --> 0:02:26.720 at his own campaign fundraiser. Last night, President Biden warned 0:02:26.720 --> 0:02:29.800 donors that America could lose its democracy if Trump wins 0:02:29.840 --> 0:02:31.040 the White House next year. 0:02:31.480 --> 0:02:33.720 Well, Nathan, we now turned to the latest developments in 0:02:33.760 --> 0:02:37.600 the Middle East. Israeli President Isaac Herzog says his country 0:02:37.680 --> 0:02:40.679 is prepared to agree to a second humanitarian pause in 0:02:40.800 --> 0:02:44.320 fighting in exchange for the return of more hostages held 0:02:44.360 --> 0:02:47.840 by Hamas, and Hamas says its top leader has arrived 0:02:47.840 --> 0:02:51.720 in Cairo for talks. Here's White House and National Security 0:02:51.760 --> 0:02:56.080 spokesperson John Kirby, we do support smaller, more localized, more 0:02:56.120 --> 0:02:58.840 targeted humanitarian pauses to get hostages out and to get 0:02:58.880 --> 0:03:02.720 more aid in. White House National Security spokesperson John Kirby 0:03:02.760 --> 0:03:06.280 says Hamas still holds about one hundred and twenty nine 0:03:06.320 --> 0:03:08.320 of the two hundred and forty or more people it 0:03:08.400 --> 0:03:09.560 abducted in October. 0:03:09.760 --> 0:03:12.200 Well, Meanwhile, Karen Ukraine heads into the new year with 0:03:12.360 --> 0:03:15.680 no guarantee of more USA lawmakers have been at an 0:03:15.680 --> 0:03:18.760 impasse over more than sixty billion dollars in fresh assistance. 0:03:19.040 --> 0:03:21.519 Now they have abandoned efforts to reach a deal before 0:03:21.560 --> 0:03:24.280 their holiday break. Here's Senate Majority Leader Chuck Schumer. 0:03:24.400 --> 0:03:29.560 The bottom line, both Democrats and Republicans understand that there's 0:03:29.600 --> 0:03:35.440 more work to do to pass legislation protecting America's security 0:03:36.040 --> 0:03:37.840 and the security of the Western world. 0:03:38.000 --> 0:03:40.920 Yeah that Senate Majority Leader Chuck Schumer. Republican lawmakers are 0:03:40.960 --> 0:03:44.240 demanding more restrictive border and immigration policies in exchange for 0:03:44.280 --> 0:03:44.720 war aid. 0:03:45.240 --> 0:03:48.160 Well. Turning to the markets now, Nathan Stocks entering the 0:03:48.240 --> 0:03:52.720 day in record territory. Despite repeated warnings from policymakers reigning 0:03:52.760 --> 0:03:55.640 in expectations for rate cuts, both the Dow and the 0:03:55.680 --> 0:03:59.240 NASDAK closed at all time highsi yesterday. Atlanta Fed President 0:03:59.320 --> 0:04:02.440 Raphael boss Stick says he does not see urgency to 0:04:02.480 --> 0:04:03.720 lower rates next year. 0:04:04.080 --> 0:04:05.920 I'm thinking if this is going to come down relatively 0:04:05.920 --> 0:04:08.640 slowly in the next six months, which means that there's 0:04:08.680 --> 0:04:10.880 not going to be urgency for us to start to 0:04:10.920 --> 0:04:12.480 pull off of our restrictive stands. 0:04:12.800 --> 0:04:16.640 And like Atlanta Fed President Raphael Bostic, Chicago FED President 0:04:16.680 --> 0:04:20.320 Austin Golesby, and the Cleveland Fed's Loretta Mester are all 0:04:20.400 --> 0:04:23.760 suggesting that rate cut expectations are premature. 0:04:23.920 --> 0:04:26.400 We'll talk of rate cuts in Europe. Is heating up, 0:04:26.480 --> 0:04:29.039 Karen after the latest Street on inflation there, Let's go 0:04:29.080 --> 0:04:31.839 to London and get the latest of Bloomberg's ewing parts. 0:04:31.560 --> 0:04:35.720 Ewen, Nathan and Karen. A Christmas miracle for the UK government. Well, 0:04:35.760 --> 0:04:38.320 maybe not quite a miracle, but very welcome progress on 0:04:38.360 --> 0:04:42.440 the UK's inflation problem. Consumer prices rose three point nine 0:04:42.480 --> 0:04:44.799 percent in the year to November, down from four point 0:04:44.920 --> 0:04:47.800 six percent the previous month, at a much sharper slow 0:04:47.839 --> 0:04:50.440 down than forecast. The pound is lower on the news 0:04:50.480 --> 0:04:52.960 as trader's rampop bets on interest rate cuts by the 0:04:52.960 --> 0:04:55.400 Bank of England next year. A bit of festive cheer 0:04:55.440 --> 0:04:59.400 for borrowers five days before Christmas in London. I'm une Pots, Bloomberg. 0:04:59.120 --> 0:05:02.760 Radio, Craig, you and thank you staying in Europe. Shares 0:05:02.760 --> 0:05:05.000 of urgen x have lost about a third of their 0:05:05.080 --> 0:05:09.159 value in Brussels this morning. The Dutch biotechs only medicine 0:05:09.200 --> 0:05:13.280 did not help patients with a rare skin disorder. Depository 0:05:13.320 --> 0:05:15.920 receipts of our genicx trading in the US are plunging 0:05:16.000 --> 0:05:18.200 right now. They're down about thirty percent. 0:05:18.040 --> 0:05:20.000 And shares of FedEx are down about nine and a 0:05:20.040 --> 0:05:24.039 half percent. Care in that company reported profit below analyst expectations. 0:05:24.080 --> 0:05:26.279 More from Bloomberg's Charlie Pellett. 0:05:25.960 --> 0:05:29.080 Costcotts were not enough to make up for volume declines 0:05:29.120 --> 0:05:32.080 that the air freight and trucking units amid a lingering 0:05:32.160 --> 0:05:36.320 cargo recession. The company also lowered its sales forecast for 0:05:36.360 --> 0:05:40.119 the fiscal year ending May thirty first. This year's peak 0:05:40.240 --> 0:05:44.320 shipping season has been muted as consumers returned to stores 0:05:44.360 --> 0:05:48.200 and contend with inflation and higher interest rates, denting buying 0:05:48.279 --> 0:05:51.640 power in New York. Charlie Pellett Bloomberg Radio. 0:05:51.480 --> 0:05:53.880 All right, Charlie, thank you. Futures pointing a touch lower 0:05:53.920 --> 0:05:55.839 this morning. S and P futures are down about a 0:05:55.839 --> 0:05:58.599 tenth of one percent. NASTAQ futures are three tenths of 0:05:58.680 --> 0:06:05.720 one percent lower. You're listening to Bloomberg Daybreak and Now 0:06:05.720 --> 0:06:07.200 with a look at some of the other stories making 0:06:07.200 --> 0:06:09.320 news in New York and around the world. Were joined 0:06:09.320 --> 0:06:10.760 by Bloomberg's Michael Barr. 0:06:10.760 --> 0:06:13.080 Michael, thank you very much. Nathan. The cost of ensuring 0:06:13.160 --> 0:06:15.800 vessels that will transit the Red Sea jumped again this 0:06:15.880 --> 0:06:19.200 week after mounting attacks in the region forced some ships 0:06:19.200 --> 0:06:22.560 to avoid the vital waterway. Cover has now surged to 0:06:22.880 --> 0:06:25.960 about half a percent of the value of the ship's hull, 0:06:26.000 --> 0:06:29.159 according to experts involved in the market. That's a sharp 0:06:29.200 --> 0:06:32.640 increase from earlier this month, when costs were pegged at 0:06:32.640 --> 0:06:35.960 around zero point one percent. It comes as the Pentagon 0:06:36.040 --> 0:06:40.040 established a multi national naval task force to protect commercial 0:06:40.080 --> 0:06:43.120 ships from hoothy missile and drone attacks in the Red 0:06:43.160 --> 0:06:46.640 Sea and the Gulf of Aden. Such attacks have escalated 0:06:46.680 --> 0:06:49.640 in the wake of the Israel Hamas War. State Department 0:06:49.640 --> 0:06:51.040 spokesman Matthew Miller. 0:06:51.120 --> 0:06:54.120 There is no justification for these attacks on global commerce, 0:06:54.440 --> 0:06:56.520 and we hope the world will join us in condemning 0:06:56.520 --> 0:06:58.560 these attacks and working to stop them. 0:06:58.680 --> 0:07:03.160 The task force, named Operation Prosperity Guardian, involves ten nations, 0:07:03.200 --> 0:07:06.920 including the UK and Canada. New York State is authorizing 0:07:06.920 --> 0:07:11.160 a commission to consider reparations for its role in perpetuating 0:07:11.480 --> 0:07:15.600 historic discrimination against blacks. Governor Kathy Hoko held a signing 0:07:15.640 --> 0:07:17.520 ceremony for the reparations commission. 0:07:17.800 --> 0:07:20.440 It doesn't mean fixing the past on doing what happened. 0:07:20.480 --> 0:07:23.320 We can't do that, no one can. But it does 0:07:23.520 --> 0:07:26.360 mean more than giving people a simple apology. 0:07:26.400 --> 0:07:28.080 One hundred and fifty years later. 0:07:28.040 --> 0:07:30.800 Governor hokel says it is a key step in confronting 0:07:30.840 --> 0:07:34.320 the state's legacy of slavery and the resulting racial gaps 0:07:34.360 --> 0:07:38.800 in wealth, employment, housing, and criminal justice. Reverend Al Sharpton, 0:07:39.200 --> 0:07:43.480 this is a very historic day because it's the beginning 0:07:43.520 --> 0:07:48.800 of a process to repair a damage done. California launched 0:07:48.800 --> 0:07:52.560 the first state task force to develop reparation proposals for blacks. 0:07:52.600 --> 0:07:55.720 In twenty twenty, we're learning more about the cinnamon behind 0:07:55.840 --> 0:07:59.440 hundreds of lead poisonings and linked to apple sauce. Cinnamon 0:07:59.520 --> 0:08:02.600 at a plan and an Ecuador, which manufactured apple sauce 0:08:02.640 --> 0:08:07.240 pouches now linked hundreds of lead poisoning nationwide, has now 0:08:07.280 --> 0:08:11.840 tested positive for lead concentrations thousands of times higher than 0:08:11.880 --> 0:08:15.960 what experts consider safe. FDA officials are looking into weather 0:08:16.080 --> 0:08:19.600 the cinnamon may have been intentionally contaminated by sellers looking 0:08:19.640 --> 0:08:22.160 to inflate the amount of money they could get for 0:08:22.200 --> 0:08:24.960 the spice. Global News twenty four hours a day and 0:08:25.080 --> 0:08:27.640 whenever you want it with Bloomberg News now, Michael barn 0:08:27.680 --> 0:08:28.760 this is Bloomberg Nather. 0:08:28.960 --> 0:08:36.240 Okay, Michael, thank you. Time for the Bloomberg Sports Update, 0:08:36.280 --> 0:08:37.640 brought to you by Tri stay down here. 0:08:37.720 --> 0:08:40.200 Good morning, John stansh Ow, Good morning Nathan. Ever since 0:08:40.240 --> 0:08:42.959 the fourth snap of the Jets season on Aaron Rodgers 0:08:43.000 --> 0:08:45.920 tore his achilles, there's been constant speculation about a Rodgers 0:08:46.040 --> 0:08:48.760 return at some point. Yesterday, on ESPN, he made it 0:08:48.800 --> 0:08:51.679 all but official he won't make it back back. Rodgers 0:08:51.720 --> 0:08:54.400 admitted he's not one hundred percent. Said the hope is 0:08:54.440 --> 0:08:56.559 the Jets would make the playoffs without him and then 0:08:56.600 --> 0:08:58.800 he'd returned. Jets have no chance to make the playoffs, 0:08:58.840 --> 0:09:01.320 but Rodgers indicate they'd like to play next year and 0:09:01.480 --> 0:09:04.199 the year after. He was effusive in his praise of 0:09:04.280 --> 0:09:04.920 his new team. 0:09:05.720 --> 0:09:08.600 I've felt like when I came here that I got 0:09:09.960 --> 0:09:12.160 kind of a renewed passion and love for the game. 0:09:12.720 --> 0:09:16.439 And everything has been amazing here. Just the people have 0:09:16.520 --> 0:09:18.960 gotten to work, with the relationships I've got to form 0:09:19.000 --> 0:09:21.800 of my teammates and amazing men and women that work 0:09:21.880 --> 0:09:24.680 here at one Just Drive has been really special. 0:09:25.280 --> 0:09:27.920 Jets QB Sunday, it will be either's Jack Wilson or Trevor 0:09:28.000 --> 0:09:31.080 Simmy and Wilson's and concussion protocol. NBA Celtics came in 0:09:31.160 --> 0:09:33.640 tied for the best record, Warriors still under five hundred, 0:09:33.640 --> 0:09:36.000 but Golden State one in overtime one thirty two one 0:09:36.080 --> 0:09:39.920 twenty six. Steph Curry scored thirty three, Dammianlelard scored forty, 0:09:39.960 --> 0:09:42.960 Milwaukee be lowly San Antonio, Kevin Durant's forty not and 0:09:43.000 --> 0:09:45.719 off in a Phoenix loss at Portland, and Memphis by 0:09:45.840 --> 0:09:48.280 two at New Orleans on a game winning shot by 0:09:48.360 --> 0:09:51.120 John Morant in his first team with a season returning 0:09:51.160 --> 0:09:54.360 from a twenty five game suspension. Nixon Nets meet tonight 0:09:54.360 --> 0:09:57.280 in Brooklyn and Toronto Rangers third straight win five to two. 0:09:57.679 --> 0:10:00.000 Islanders beat Edmonton three to one. Flyers beat the day 0:10:00.240 --> 0:10:03.160 and overtime. Bruins lost in ott to Minnesota, and the 0:10:03.200 --> 0:10:06.320 Columbus Bluejackets with their most goals in seven years a 0:10:06.400 --> 0:10:08.720 nine to four win at Buffalo. Top twenty five teams 0:10:08.720 --> 0:10:12.199 met in college groups, Memphis by twenty three over Virginia. 0:10:12.360 --> 0:10:14.319 John Stashedware Bloomberg sport. 0:10:16.760 --> 0:10:20.560 From coast to coast, from New York to San Francisco, Boston, 0:10:20.600 --> 0:10:25.160 to Washington, DC nationwide on Syrias exam the Bloomberg Business 0:10:25.160 --> 0:10:28.880 app in Bloomberg dot Com. This is Bloomberg Daybreak. 0:10:30.080 --> 0:10:30.520 Good morning. 0:10:30.559 --> 0:10:33.280 I'm Nathan Hager. It is another first in the norm 0:10:33.320 --> 0:10:36.080 breaking political career of Donald Trump. For the first time 0:10:36.120 --> 0:10:39.160 a court has found the former president ineligible to run 0:10:39.200 --> 0:10:41.880 again for the White House because of his actions on 0:10:41.960 --> 0:10:45.000 January sixth, twenty twenty one. This ruling from the Colorado 0:10:45.080 --> 0:10:48.360 Supreme Court under the Constitution's insurrection clause in the Fourteenth 0:10:48.400 --> 0:10:51.520 Amendment is now headed for a test before the US 0:10:51.640 --> 0:10:54.079 Supreme Court. And for more. We're joined by Terry Haynes, 0:10:54.400 --> 0:10:57.280 the founder of Pangaepolicy. Terry, good morning, your reaction to 0:10:57.320 --> 0:10:57.760 this ruling? 0:10:58.679 --> 0:11:02.679 Hi, Nathan, good morning. The thing to understand here is 0:11:03.160 --> 0:11:08.120 the sort of obvious this won't be over quickly. Firstly, 0:11:09.200 --> 0:11:12.079 the Supreme Court of the United States almost certainly takes 0:11:12.120 --> 0:11:18.800 this up because there are two federal rights that are implicated. First, 0:11:19.120 --> 0:11:23.760 Fourteenth Amendments insurrection clause, which has never really been interpreted 0:11:23.800 --> 0:11:26.800 by the court. But whatever else you can say about 0:11:26.840 --> 0:11:29.280 this ruling, state courts are not meant to be the 0:11:29.280 --> 0:11:32.600 final arbiters of federal rights. So that you know this 0:11:32.720 --> 0:11:35.160 is going to go to the Supreme Court, who will 0:11:35.160 --> 0:11:37.679 take which will take it up just for the Fourteenth 0:11:37.720 --> 0:11:42.680 Amendment matter alone. And then there's a matter that the 0:11:42.720 --> 0:11:46.040 three descending Colorado justices three out of seven, So this 0:11:46.120 --> 0:11:49.880 is hardly the ut animous ruling or anything close to it. 0:11:50.440 --> 0:11:53.320 The three descending justices point out, which is a Fifth 0:11:53.320 --> 0:11:57.920 Amendment due process claim, the idea that procedural due process 0:11:58.000 --> 0:12:00.640 needs to apply here, and whatever else you can say 0:12:00.640 --> 0:12:04.640 about the state process. What we're talking about here is 0:12:05.440 --> 0:12:08.400 the appeal of the in Colorado is the appeal of 0:12:08.520 --> 0:12:12.199 a state court trial ruling that in a trial had 0:12:12.240 --> 0:12:15.160 that started less than two months ago. So the idea 0:12:15.280 --> 0:12:18.599 that such an important federal right as the ability to 0:12:18.720 --> 0:12:24.360 run for office can be can be ended in a 0:12:24.400 --> 0:12:29.360 state by a state court, you know, in a quick 0:12:29.880 --> 0:12:33.360 trial proceeding, is also something that I think the court 0:12:33.400 --> 0:12:37.200 takes up. In both cases, I think the the Supreme 0:12:37.240 --> 0:12:43.320 Court overturns Colorado. But in terms of practical impact, this 0:12:43.480 --> 0:12:45.720 is the beginning of a lot of legal challenges, both 0:12:45.760 --> 0:12:51.280 on primary ballots, which is what Colorado is, and also 0:12:51.800 --> 0:12:55.640 proceedings to take Trump off the ballot in the general 0:12:55.640 --> 0:12:58.360 election and those haven't even really started yet. So sorry 0:12:58.400 --> 0:13:01.240 to go on, but complexity here. 0:13:01.360 --> 0:13:02.040 Yeah, certainly. 0:13:02.640 --> 0:13:04.800 Well, I want to ask you whether there is where 0:13:04.800 --> 0:13:07.120 there could be a difference for the Supreme Court when 0:13:07.160 --> 0:13:10.960 it comes to the question of primary versus general election ballots. 0:13:11.000 --> 0:13:13.560 I mean, that's a pretty significant difference, isn't it. 0:13:14.600 --> 0:13:17.040 Yeah, it's a significan a difference. But in terms of 0:13:17.080 --> 0:13:21.640 the constitutional question, the constitutional question here is really the same. 0:13:22.200 --> 0:13:26.560 You know, firstly, the whether the candidate you're kind of 0:13:26.559 --> 0:13:30.240 what the scope of the Insurrection Clause is. And not 0:13:30.320 --> 0:13:32.720 only has the Insurrection Clause been around since, you know, 0:13:32.840 --> 0:13:36.320 just after the Civil War eighteen sixty eight, but one 0:13:36.440 --> 0:13:41.600 section of the Fourteenth Amendment is the Congress the sole 0:13:41.720 --> 0:13:47.480 ability to put laws together to interpret that and enforce it. 0:13:47.679 --> 0:13:51.280 And Congress never really did that. That Congress kind of 0:13:51.320 --> 0:13:53.560 did the opposite. They engaged as the years went on 0:13:53.640 --> 0:13:58.079 and more and more amnesties of Confederates that were subject 0:13:58.160 --> 0:14:01.720 to the clause. So you know, there's a situation where 0:14:02.760 --> 0:14:05.280 this part of the Constitution has never been interpreted by 0:14:05.280 --> 0:14:08.120 the Supreme Court firstly, and secondly, Congress has never really 0:14:08.160 --> 0:14:11.600 tried to enforce it in a in a consistent manner, 0:14:11.960 --> 0:14:14.880 so that that kind of cries out all by itself 0:14:14.920 --> 0:14:17.680 for a Supreme Court ruling here, because whatever else you 0:14:17.679 --> 0:14:22.440 can say about Trump or the insurrection claim or anything else, uh, 0:14:22.560 --> 0:14:27.480 it is you know, it's you know, the background that 0:14:27.520 --> 0:14:31.760 I just cited here, the very quick trial, the perceived 0:14:31.840 --> 0:14:34.920 lack of due process by three Colorado justices, I think 0:14:34.960 --> 0:14:37.320 makes this a case ripe for the Supreme Court, and 0:14:37.360 --> 0:14:38.880 they've got really got to step in. 0:14:39.200 --> 0:14:41.280 We lot, we have about a minute left here, Terry, 0:14:41.320 --> 0:14:44.000 but we know that the former president has been able 0:14:44.040 --> 0:14:47.520 to rally support around all these legal challenges he've been facing, 0:14:47.600 --> 0:14:50.720 with the Supreme Court potentially coming into this and deciding 0:14:50.720 --> 0:14:54.080 this constitutional question. What could that mean for democratic support 0:14:54.080 --> 0:14:54.960 from President Biden? 0:14:56.160 --> 0:14:59.080 Well, I think it, uh, I think it firms it 0:14:59.160 --> 0:15:03.720 up a tiny bit. Firstly, deeconitely, you know, it makesh 0:15:05.520 --> 0:15:07.640 It'll be what will be the case that'll be made 0:15:07.720 --> 0:15:10.680 is that Biden, you know, needs to be the preserver 0:15:10.800 --> 0:15:12.880 of democracy and all the rest, and you know that'll 0:15:12.880 --> 0:15:15.160 have some some residents. The other thing I would say 0:15:15.160 --> 0:15:17.520 about Trump is really it's a fork in the road. 0:15:17.920 --> 0:15:20.480 On the one hand, you can see a supporters really 0:15:20.520 --> 0:15:23.640 feeling like he's his claims that he's being singled out 0:15:23.720 --> 0:15:26.120 or validated. But on the other hand, it may cause 0:15:26.240 --> 0:15:29.160 voters in early primary states to seek an alternative. We 0:15:29.160 --> 0:15:31.120 don't know that, but we will in the next few weeks. 0:15:33.280 --> 0:15:36.360 This is Bloomberg Daybreak Today, your morning brief on the 0:15:36.400 --> 0:15:39.920 stories making news from Wall Street to Washington and beyond. 0:15:40.080 --> 0:15:42.880 Look for us on your podcast feed at six am 0:15:42.920 --> 0:15:46.600 Eastern each morning, on Apple, Spotify, and anywhere else you 0:15:46.680 --> 0:15:47.840 get your podcasts. 0:15:47.960 --> 0:15:50.680 You can also listen live each morning starting at five 0:15:50.720 --> 0:15:53.280 am Wall Street time on Bloomberg eleven three to zero 0:15:53.360 --> 0:15:56.160 in New York, Bloomberg ninety nine to one in Washington, 0:15:56.320 --> 0:15:59.440 Bloomberg one six to one in Boston, and Bloomberg nine 0:15:59.520 --> 0:16:00.920 sixty in San Francisco. 0:16:01.320 --> 0:16:04.480 Our flagship New York station is also available on your 0:16:04.520 --> 0:16:09.600 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty. 0:16:09.640 --> 0:16:12.520 Plus listen coast to coast on the Bloomberg Business app, 0:16:12.600 --> 0:16:16.440 serious XM Channel one nineteen, the iHeartRadio app, and on 0:16:16.560 --> 0:16:20.120 Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. 0:16:20.200 --> 0:16:22.960 Join us again tomorrow morning for all the news you 0:16:23.080 --> 0:16:26.320 need to start your day right here on Bloomberg Daybreak