BONUS EPISODE: UK 30-Year Bond Yields Hit 1998 High - What Now?
As UK long-dated gilts hit a level not seen in 27 years, we have a special episode of Bloomberg Daybreak Europe. The rate on 30-year gilts rose five basis points to 5.69% on Tuesday amid a global decline in government bonds. The pound also tumbled in London trading, dropping 1.1%.Bonds are falling ahead of an autumn budget, where Chancellor of the Exchequer Rachel Reeves is under pressure to find savings or raise taxes to improve the UK’s precarious fiscal position. Our Chief UK Economist Dan Hanson and Opinion Columnist Marcus Ashworth join hosts Stephen Carroll and Lizzy Burden to discuss how serious a problem the market moves create for the government and what might come next.More Here: UK 30-Year Bond Yields Climb to Highest Level Since 1998See omnystudio.com/listener for privacy information.
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Gold Hits Record High, Nestlé CEO Affair Exit, Lab Diamond Pressure
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Gold hit a record high as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multiyear rally in precious metals. (2) Nestlé dismissed Chief Executive Officer Laurent Freixe after only a year due to an undisclosed workplace affair, extending the management turmoil at the world’s biggest food company that’s known for its conservative corporate culture. (3) Revolut has kicked off a process for some employees to sell their shares in the company at a $75 billion valuation. (4) A plane carrying European Commission President Ursula von der Leyen was disrupted by what authorities suspect was Russian signals interference in Bulgaria. (5) UK Prime Minister Keir Starmer announced a raft of changes to his Downing Street team in a bid to reset his government and give him more influence over economic policy, after a stuttering first year in power saw his leadership called into question and Labour tank in the polls. (6) Across Botswana the lines of patients outside government clinics are lengthening, construction companies dependent on state jobs are firing workers and university students are threatening to boycott lectures after not getting the allowance increases they were promised. Podcast Conversation: Silicon Valley Drive to Get AI Into American Schools Is WorkingSee omnystudio.com/listener for privacy information.
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Xi, Modi & Putin Make Nice, Italy-France Tax Spat, A €2 Trillion Headache
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Prime Minister Narendra Modi used his first trip to China in seven years to reset relations with India’s powerful neighbor while also seeking to strengthen ties with Russia as President Donald Trump ratchets up tensions with New Delhi. (2) The legal fight over President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade. (3) The next few weeks will give Wall Street a clear reading on whether this latest stock market rally will continue — or if it’s doomed to get derailed. (4) Italy and France sparred over tax competition within the European Union, reigniting a debate over whether EU countries are seeking economic advantages at the expense of their peers. (5) The UK government will look into whether it should seek changes to the European Convention on Human Rights, as the ruling Labour party seeks to blunt criticism of its handling of immigration and asylum issues. (6) There’s a near €2 trillion ($2.3 trillion) upheaval coming for European bond markets to cap a 2025 already marked by tariff twists and turns, deficit worries and now a political crisis in France. Podcast Conversation: Chefs Turn to Induction for Safety and Precision Our new look Brussels Edition newsletter launches today. Sign up here for all the stories you need to know from across the European Union - every afternoon.See omnystudio.com/listener for privacy information.
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Daybreak Weekend: Jobs Report, European Banking, China's Technology Battle
Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the August jobs report and earnings from Salesforce In the UK – a look at the future of Europe's banking industry In Asia – a look at how China is stepping up the technology battle with the US See omnystudio.com/listener for privacy information.
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No Putin-Zelenskiy Meeting, Waller Sees Sept Cut, Reform Lures Lobbyists
Your morning briefing, the business news you need in just 15 minutesOn today's podcast:(1) German Chancellor Friedrich Merz says a meeting between Ukrainian President Volodymyr Zelenskiy and Russia’s Vladimir Putin is unlikely to materialize, even though it was touted earlier by President Donald Trump.(2) European powers referred Iran to the United Nations to face the re-imposition of tough international sanctions after the Islamic Republic failed to comply with demands to negotiate with the US and allow nuclear inspectors to resume their work.(3) Federal Reserve Governor Christopher Waller again called for lower interest rates, saying he would support a quarter-percentage point reduction in September and anticipates additional cuts over the next three to six months.(4) A solid economic reading drove stocks to fresh all-time highs, but Wall Street traders refrained from making big moves before inflation data that could bring more clues on the pace of Federal Reserve rate cuts. Short-dated Treasury yields rose. The dollar fell.(5) Lobbyists are lining up to attend Reform UK’s annual conference next week in a sign corporate Britain is increasingly taking Nigel Farage’s outfit seriously as an electoral force.See omnystudio.com/listener for privacy information.
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