Bloomberg Daybreak: Asia Edition

A gauge of the dollar and longer-dated Treasuries steadied in Asia after they declined Tuesday following President Donald Trump's push to oust Federal Reserve Governor Lisa Cook. The gap between five and 30-year yields is at its steepest since 2021. While political meddling in monetary policy after Trump's move drew much of the market's focus, traders face key risks this week with Nvidia's earnings and Friday's inflation report. Even with tariff and geopolitical headlines flaring, investors remain anchored to a bullish market script: a likely September rate cut, resilient economic growth, and corporate earnings strong enough to keep equity sentiment afloat. We look at the state of play with Robert Schein, Chief Investment Officer at Blanke Schein Wealth Management.Meantime, Asian equities struggled for direction at the open Wednesday as investors await Nvidia's earnings for guidance on where the markets head next after a strong rally since April. Shares edged up in Australia while gauges in Japan and South Korea were flat. We get more on the markets from Kerry Craig, Global Market Strategist at JPMorgan Asset Management. He speaks with Bloomberg's Paul Allen and Avril Hong on The Asia Trade.See omnystudio.com/listener for privacy information.

The dollar dropped and gold gained after President Donald Trump removed Federal Reserve Governor Lisa Cook, raising concerns about the independence of the central bank. A gauge of the dollar retreated 0.3% as Cook will be removed from the position effective immediately, according to a letter Trump posted on his Truth Social account. The yen appreciated. Treasuries flipped after initially gaining on the news, sending yields on the benchmark 10-year higher by one basis point to 4.28%. Gold rose 0.5%. Asian stocks fell along with equity-index futures for US and Europe as Trump also threatened to place export curbs on chips. We get reaction from Peter McGuire, CEO at Trading.com Australia.Meantime, stocks were already under pressure after initial optimism about the Fed lowering interest rates vanished and US stocks retreated Monday. Stocks rallied on Friday after Federal Reserve Chair Jerome Powell opened the door for a possible interest-rate cut. The sense of euphoria eased as doubts over the pace of those reductions lingered on Wall Street as traders braced for a not-so-friendly price reading later this week. We examine the path ahead for monetary policy and the markets with Mary Ann Bartels, Chief Investment Strategist at Sanctuary Wealth.See omnystudio.com/listener for privacy information.

Asian equities gained at the open, tracking Wall Street's rally, after Federal Reserve Chairman Jerome Powell opened the door to resuming interest rate cuts. Shares in Japan and South Korea advanced with MSCI's gauge for the region gaining 0.2%. Australian stocks hit a fresh record. Treasuries opened lower, giving up some of the gains on Friday after Powell's speech. Traders see an 84% chance of a Fed rate cut next month after Powell signaled at Jackson Hole the central bank may ease before inflation fully returns to target amid a softening jobs market. Still, officials remain split on the outlook, warning of lingering price risks from US trade tariffs ahead of this week's key inflation data. We get reaction from Matt Orton, Head of Advisory Solutions and Market Strategy at Raymond James Investment Management.Plus - Chinese stocks will be in focus with questions mounting over how much further the market can rally with concerns of trade tariffs and a deep-rooted property crisis weighing on the economy. While the market's steady advance may suggest less risk of a sudden correction, some analysts are warning that a bubble is in the making. The Nasdaq Golden Dragon China Index rose 2.7% Friday and futures indicated a stronger open for shares in Hong Kong and mainland China. We examine the week's market outlook with Qian Wang, Chief Asia Pacific Economist at The Vanguard Group. She speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.See omnystudio.com/listener for privacy information.

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 personal spending data and earnings from Nvidia. In the UK – a look at the upcoming Medef Conference. In Asia – a look at the next Bank of Korea decision and the HK IPO market.  See omnystudio.com/listener for privacy information.

Asian equities traded within a narrow range after US stocks and bonds fell as traders pared back wagers on imminent Federal Reserve interest-rate cuts. Shares in Japan and Australia declined while South Korea advanced. Treasuries were little changed after falling across the curve in the US session, sending yields higher. The yen steadied after Japan's July core inflation came in at 3.1%, against an estimate for 3%. We look at the global inflation picture with Ian Samson, Multi Asset Portfolio Manager at Fidelity International.Meantime, stronger US economic data and a more hawkish tone from Fed officials have led money markets to price a 70% chance of a September rate cut, down from 90% a week ago. While data showed an increase in jobless claims — adding to signs of a slowing labor market — the solid factory purchasing managers index made traders trim their rate cut bets. A gauge of manufacturing grew at the fastest pace since 2022. Attention now turns to the central bank's annual Jackson Hole symposium, where Chair Jerome Powell is scheduled to speak Friday at 10 a.m. New York time. We hear from Austan Goolsbee, President of the Federal Reserve Bank of Chicago. He speaks with Bloomberg's Michael McKee and Michael Shepard from Jackson Hole, Wyoming.See omnystudio.com/listener for privacy information.

Asian markets looked set for a cautious open Thursday, as US stocks pulled back and bond prices climbed ahead of a key Fed gathering in Jackson Hole. The Nasdaq and S&P 500 slipped, while Treasuries rallied on tempered inflation concerns. Meanwhile, Chinese shares listed in the US bucked the trend with gains. All eyes now turn to Fed Chair Jerome Powell's upcoming remarks for clues on the September rate path. For more on the markets, we check in with Tim Pagliara, Chairman and Chief Investment Officer at CapWealth.Plus - Hong Kong Exchanges and Clearing CEO Bonnie Chan is upbeat that the return of international investors will help sustain momentum amid a boom in listings and trading. Hong Kong's stock market has boomed this year, with its benchmark index surging and share sales posting a strong recovery as Chinese firms flock to raise capital. That in turn has boosted trading volumes, one of the main drivers of earnings for the exchange. We bring you part of Chan's conversation with Bloomberg's Yvonne Man.See omnystudio.com/listener for privacy information.

Asian markets stumbled midweek as a selloff in heavyweight U.S. tech stocks spilled across global equities. Most major indexes in the region dipped, with Taiwan Semiconductor and SoftBank among the hardest hit. The MSCI Asia Pacific index fell 0.5%, and Nasdaq futures slid after their second-worst loss since April's tariff shock. Treasuries held steady, the dollar climbed for a third straight day, and oil edged higher following a volatile prior session. We examine the broader market landscape with Ritesh Ganeriwal, Head of Investment & Advisory at Syfe.Meanwhile, attention is turning to Jackson Hole, where Fed Chair Jerome Powell will speak Friday. Traders are nearly certain a September rate cut is coming, but Powell's tone could shape the longer-term policy outlook. With July CPI showing tame goods inflation but sticky services prices, investors are looking for guidance on how aggressively the Fed may ease into 2026. We look at the prospective path of rate policy with Gene Goldman, Chief Investment Officer at Cetera Financial Group.See omnystudio.com/listener for privacy information.

US President Donald Trump called Vladimir Putin and urged the Russian leader to begin making plans for a summit with Volodymyr Zelenskiy, after meeting the Ukrainian president and European leaders at the White House on Monday. The proposal — which Trump pitched as a one-on-one summit between Ukraine and Russia's leaders that would be followed by a trilateral gathering involving all three — represented the latest turn in the US president's push to broker an end to a conflict that has lasted over three years. We get the latest from Michelle Jamrisko, Bloomberg News White House Editor in Washington.Oil markets were in focus following Trump and Zelenskiy's meeting in Washington, as traders weighed the potential implications for regional stability and energy flows. Crude oil held steady after Monday's gain. Meantime, Asian stocks may struggle for direction at the open after the S&P 500 closed little changed. We get market perspective from Mark Matthews, Head of Asia Research at Julius Baer. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.Plus - a big week is coming up as the Federal Reserve's annual Economic Policy Symposium kicks off Thursday in Jackson Hole, Wyoming. The event in the Grand Teton mountains has been used by Fed chairs as a venue for making crucial policy announcements. Jerome Powell is expected on Friday to unveil the Fed's new policy framework — the strategy it'll use to achieve its inflation and employment goals. He may also drop some hints about the Fed's thinking ahead of its September policy meeting. We look at the potential impact of Powell's remarks later this week with Michele Martin, President at Prosperity, the wealth management arm of EisnerAmper.See omnystudio.com/listener for privacy information.

In Japan, a stronger yen is set to emerge from this week’s gathering of central bankers in Jackson Hole after verbal intervention last week from US Treasury Secretary Scott Bessent gave the currency traction amid what is widely expected to be a dovish period for the US dollar. Governor Ueda has so far balked at preparing markets for another BOJ hike, wary of political blowback at home. But with the US Treasury Secretary now cast as the external foil, there’s still a month to prime investors for a live September meeting. For more, we speak to Bloomberg's Paul Dobson, Executive Editor for Asia Markets.Plus - Investors will be looking to Fed Chair Jerome Powell’s remarks at Jackson Hole for confirmation that US rate cuts are coming sooner rather than later. A September move is nearly fully priced, and looser US financial conditions have been a key driver of gains for risk assets across the globe. The suspense ahead of this week’s gathering will likely keep investors cautious. We heard from Skyler Weinand, Founder and Chief Investment Officer at Regan Capital.See omnystudio.com/listener for privacy information.

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 housing data and retail earnings. In the UK – a look at challenges facing European banking consolidation ahead of an upcoming shareholder vote in Italy. In Asia – a look at Japan CPI, PMI, and trade. See omnystudio.com/listener for privacy information.

Asian shares edged higher at the open, led by Japanese equities after the country's gross domestic product beat estimates. MSCI's gauge of Asian shares rose 0.2% as the Topix Index in Japan gained 0.8%. The country's economy expanded faster than expected last quarter, avoiding a recession. Stateside, bonds held their losses after higher inflation data caused traders to pare Federal Reserve interest-rates cuts, sending two-year Treasury yields higher by six basis points to 3.73%. A gauge of the dollar was little changed after gaining 0.4% in the prior session. Risk sentiment had been buoyed in previous days by expectations of monetary easing in the US, with traders fully pricing in a quarter-point reduction. But with US wholesale inflation accelerating in July by the most in three years, traders trimmed the odds of a September rate cut to about 90% from near certainty. We get reaction from Mark Luschini, Chief Investment Strategist at Janney Montgomery Scott.Plus - traders in Asia will also focus on China's monthly data, which will help gauge the health of the economy as it battles a US trade war and the longest deflation streak since at least the 1990s. Worries of a deepening downturn are mounting, with expectations retail sales growth and industrial production slowed in July from the month prior, according to Bloomberg surveys. We check on the state of consumption in the Asia-Pacific with Matthew Driver, Executive Vice President of Services, APAC at Mastercard.See omnystudio.com/listener for privacy information.

Asian stocks were poised for a mainly positive open Thursday as investors continued to ramp up bets that the Federal Reserve will cut interest rates next month. Meantime, Bloomberg Economics says China's July activity data due Friday will likely show signs growth softened heading into the second half, echoing early indications in business surveys and tracking its full-year outlook. We get more on the state of China's economy from Helen Zhu, Managing Partner and Chief Investment Officer at NF Trinity.Plus - stocks have soared to record levels and volatility has slumped to multi-year lows as traders now fully expect a quarter-point move by the Fed after an inflation print earlier this week was seen as benign. External pressure is also coming from President Donald Trump's administration with Treasury Secretary Scott Bessent making his most explicit demand yet for the central bank to execute a cycle of cuts. We discuss what the Fed's path ahead may look like with Ross Mayfield, Investment Strategist at Baird Private Wealth Management.See omnystudio.com/listener for privacy information.

Stocks climbed to a record after an in-line US inflation reading bolstered speculation the Federal Reserve will have room to cut rates in September. US inflation data bolstered expectations that the Fed can move toward rate cuts without reigniting price pressures. While underlying inflation accelerated to the strongest since the start of the year, the modest gain in goods prices eased fears that trade-related costs may feed into broader price pressures. We get reaction from Charles Lieberman, Co-Founder and Chief Investment Officer at Advisors Capital Management. Plus - Bitcoin continues to flirt with an all-time high as demand from institutional investors and corporate treasury buyers lifts the wider market for digital assets. A recent executive order from US President Donald Trump clears the way for digital assets to be added to the mix of investments available in workplace retirement plans - and for ordinary investors dissatisfied with the returns from target-date funds or the traditional 60/40 portfolio to push their savings into riskier assets. We talk all things crypto with Peter Chung, Head of Research at quant trading firm Presto in Hong Kong.See omnystudio.com/listener for privacy information.

US President Donald Trump extended a pause of sky-high tariffs on Chinese goods for another 90 days into early November, stabilizing trade ties between the world's two largest economies. Trump signed an order extending the truce through November 10th, deferring a tariff hike set for Tuesday. The de-escalation first took effect when the US and China agreed to reduce tit-for-tat tariff hikes and ease export restrictions on rare earth magnets and certain technologies. China said it too would extend its own suspension for a further 90 days. Meanwhile, Nvidia and Advanced Micro Devices have agreed to pay 15% of their revenues from Chinese AI chip sales to the US government in an unusual, legally questionable deal that reflects the Trump administration's willingness to soften export controls in exchange for financial payouts. We discuss the day's developments with Derek Wallbank, Senior US Economy and Government Editor for Bloomberg News. Plus - Wall Street refrained from making big bets ahead of a key inflation report, with stocks losing steam after climbing to the brink of all-time highs. With the earnings season almost done, investors are turning to economic data for clues on whether the Federal Reserve will be able cut rates in September. Data due Tuesday is forecast to show US consumers saw a slight pickup in inflation as retailers gradually raised prices on a variety of items subject to higher import duties. We break down the potential market implications with Joy Yang, Head of Product Management at MarketVector Indexes.See omnystudio.com/listener for privacy information.

Asian stocks were set for a cautious open ahead of key economic data and a looming deadline on the potential extension of US tariffs on Chinese exports. US stock futures were steady while the dollar was in a tight range against major peers in early Asian trading. Traders are looking ahead to critical economic data from the US which could shape interest-rate expectations. One key data point will be the US inflation print, which will provide more insight into the Federal Reserve's rates outlook, with fears the economy is teetering on the edge of stagflation. For more, we speak with Eric Sterner, Chief Investment Officer at Apollon Wealth Management. Plus - Australia's central bank is poised to deliver its third interest-rate cut this year as inflationary pressures ebb, while Governor Michele Bullock is expected to stick with her cautious stance on the monetary policy outlook. Traders and most economists polled by Bloomberg anticipate the Reserve Bank of Australia will lower its cash rate by 25 basis points to 3.6% on Tuesday, bringing its cumulative easing in the current cycle to 75 basis points. For a closer look, we hear from Swati Pandey, Bloomberg Economy and Government Reporter in Sydney. She speaks with Bloomberg's Avril Hong and Paul Allen on The Asia Trade.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Guest Host Amy Morris take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI, PPI, and retail sales data, along with Cisco earnings. In the UK – a look at Europe’s renewable energy sector and Vestas earnings. In Asia – a look at ahead to the next RBA decision, and the impact of chip tariffs. See omnystudio.com/listener for privacy information.

Federal Reserve Governor Christopher Waller is emerging as a top candidate to serve as the central bank's chair among President Trump's advisers as they look for a replacement for Jerome Powell. Earlier Thursday, Trump said he had chosen Council of Economic Advisers Chairman Stephen Miran to serve as a Fed governor. Trump said that Miran, who will need to be confirmed by the Senate, would only serve the remainder of Adriana Kugler's term, which expires in January. The Bloomberg Dollar Spot index declined on the news, with Waller and Miran both having voiced support for lowering interest rates. We got reaction from Ivy Ng, Chief Investment Officer for the Asia-Pacific at DWS. She speaks with Bloomberg's Haidi Stroud-Watts and Paul Allen on The Asia Trade. Plus - trade tensions between the US and India are rising, while President Trump has signaled new sanctions on Russia could land as early as Friday. Treasury Secretary Scott Bessent also added that China levies "could be on the table" over the buying of Russian oil. Meantime, Indian Prime Minister Narendra Modi spoke with Brazil's President Luiz Inacio Lula da Silva on Thursday about strengthening trade ties amid rising US tariffs. For more on the growing impact of Washington's reciprocal tariffs, we hear from Inu Manak, Trade Policy Fellow at the Council on Foreign RelationsSee omnystudio.com/listener for privacy information.

After months of negotiations, US reciprocal tariffs are set to go into effect at 12:01am Eastern time. On Wednesday, President Donald Trump imposed an additional 25% tariff on Indian goods over its ongoing purchases of Russian energy, escalating a fight with a key Asian partner on the eve of his broad-based duties taking effect. Meantime, Switzerland's president Karin Keller-Sutter left Washington without announcing any success in lowering the 39% tariff on her country - the highest American tariff rate of any developed nation. For more, we heard from William Reinsch, Senior Adviser at the Center for Strategic and International Studies. He speaks with Bloomberg's Haidi Stroud-Watts and Haslinda Amin on The Asia Trade. Plus - President Trump said he would impose a 100% tariff on semiconductor imports, though would exempt companies moving production back to the United States. The announcement came as Apple CEO Tim Cook joined the President at the White House to announce a fresh $100 billion investment plan in US manufacturing. We get reaction from Emily Benson, Head of Strategy at Minerva Technology Futures.See omnystudio.com/listener for privacy information.

US President Donald Trump said Tuesday that tariffs on semiconductor and pharmaceutical imports would be announced "within the next week or so," as the administration prepares to target key economic sectors in its effort to remake global trade. Trump also added that he was "getting very close to a deal" with China to extend the trade truce that saw the two countries agree to reduce tit-for-tat tariff hikes and ease export restrictions on rare earth magnets and certain technologies. For more, we hear from Jill Disis, Bloomberg News Desk Editor in Hong Kong. Plus - the S&P 500 was on the brink of all-time highs on Tuesday, before losing steam. In late hours, Advanced Micro Devices gave a stronger-than-expected sales forecast, but warned that its access to the crucial China market remains uncertain. The pullback highlights investor anxiety over the Fed's next move, with economic data complicating the central bank's balancing act between controlling inflation and sustaining growth. Stocks had rallied in the prior session amid growing bets on potential rate cuts after weak jobs data last week. We get perspective from Vishnu Varathan, Head of Economics and Strategy at Mizuho Bank. He speaks with Bloomberg's Heidi Stroud-Watts and Haslinda Amin on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian stocks rose at the open after a wave of dip buying and optimism about interest-rate cuts helped the S&P 500 post its biggest rally since May. Stocks in Japan, Australia and South Korea all gained and the broader MSCI Asia Pacific Index rose 0.4%. Oil steadied after a three-day drop as investors weighed risks to Russian supplies, with US President Donald Trump stepping up his threat to penalize India for buying Moscow's crude. We look at the market landscape with Hartmut Issel, Head of APAC Equities and Credit at UBS Wealth Management. He speaks with Bloomberg's Haidi Stroud-Watts on The Asia Trade. Plus - the CEO of Japan's largest bank says the Bank of Japan could raise its policy rate as early as September, given the outlook for higher inflation in the country. Mitsubishi UFJ Financial Group CEO Hironori Kamezawa speaks exclusively with Bloomberg's Hideki Suzuki about the BOJ's rate path, rising Japanese bond yields, and the impact of tariffs.See omnystudio.com/listener for privacy information.

Asian stocks fell at the open after soft US jobs data triggered a pullback in equities and fueled bets on a Federal Reserve rate cut. Oil retreated as OPEC+ wrapped up a run of major output hikes. The moves suggest Friday's sharp retreat on Wall Street — sparked by rising US unemployment and slower job creation — is still rippling through global markets. The weak data is fueling investor concern after US stocks rallied for three straight months on speculation the US economy would withstand President Donald Trump's tariff storm. We hear from Sharyn O'Halloran, Professor of Political Economy and International and Public Affairs at Columbia University. She speaks with Bloomberg's Paul Allen and Haidi Stroud-Watts on The Asia Trade. Plus - Toyota Motor Corp. and Honda Motor Co. earnings will paint a mixed picture as a stronger yen and US auto tariffs eat into profit, despite resilient unit sales. Toyota likely saw a dip in first-quarter operating profit, according to estimates. While the company posted record global sales in the first half driven by a surge in pre-tariff purchases, Bloomberg Intelligence said the automaker is likely weighed down by factors including supply chain costs.Honda's profit likely fell for the same reasons, according to BI. In June, Japanese automakers slashed US export prices by 19%, the biggest drop since records going back to 2016, sacrificing margins to remain competitive through the tariff turmoil. We preview this week's earnings with Kota Yuzawa, Head of Asia Auto Research at Goldman Sachs.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with 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 earnings from Walt Disney and Uber. In the UK – a look ahead to earnings from BP. In Asia – a look at ahead to how US smartphone production will be impacted by Apple’s shift towards India, along with an outlook for China property. See omnystudio.com/listener for privacy information.

Asian stocks fell for a sixth straight session — the longest losing streak this year — as President Donald Trump announced new tariff rates and as solid earnings from megacap tech firms failed to lift broader market sentiment. The MSCI Asia Pacific Index dropped 0.4% at the open while contracts for the S&P 500 also fell by the same amount. Trump will maintain a minimum global tariff of 10%, while imports from countries with trade surpluses with the US face duties of 15% or higher, the White House announced Thursday. We get reaction from Jenny Gordon, Non-Resident Fellow at the Lowy Institute. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade. Plus -  Bloomberg Intelligence says Hang Lung Properties may stabilize retail rental income in mainland China, mainly driven by solid leasing performance of prime shopping malls in Shanghai. Its retail rental revenue on the mainland held steady at 2.4 billion yuan in the first half, with high occupancy rates of Plaza 66 and Grand Gateway 66 at 98% and 99% as of June 30. We speak with Adriel Chan, Chair of Hang Lung Properties.See omnystudio.com/listener for privacy information.

US equity-index futures climbed as strong earnings from megacap tech firms bolstered optimism that corporate profits remain resilient. The dollar steadied after gaining on Federal Reserve holding interest rates. Contracts for the Nasdaq 100 rose 1.2% and those for the S&P 500 advanced 0.8% as Microsoft and Meta Platforms surged in after-hours trading. We break down the day's market headlines with Dean Smith, Chief Strategist at FolioBeyond. Plus - US President Donald Trump announced late Wednesday that he had reached a trade deal with South Korea that would impose a 15% tariff on its exports to the US, and see Seoul agree to $350 billion in US investments. We get reaction from Naomi Fink, Chief Global Strategist at Nikko Asset Management. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Shares in Japan fluctuated at the open while those in South Korea and Australia were flat Wednesday after the S&P 500 snapped a six-day rally. Treasuries were steady in early Asian trading after jumping the most in a month in the prior session. In the US, Federal Reserve policymakers are largely expected to hold interest rates steady for a fifth consecutive meeting at the conclusion of their July 29-30 gathering. Dissents from one or more officials could send the message that some members of the rate-setting Federal Open Market Committee prefer to reduce borrowing costs sooner rather than later. We preview Thursday's FOMC decision with Mark Heppenstall, President and CIO at Penn Mutual Asset Management. Plus - US and China will continue talks over maintaining a tariff truce before it expires in two weeks and Trump will make the final call on any extension. Adding an extra 90 days is one option, according to US Treasury Secretary Scott Bessent. Meantime, the International Monetary Fund said Tuesday that the world economy will keep weakening and remains vulnerable to trade shocks even though it is showing some resilience to Donald Trump's tariffs. We break down the latest trade headlines with Paul Donovan, Chief Economist at UBS Global Wealth Management. He speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian stocks slipped after a flat session on Wall Street, as investors stayed cautious amid a week packed with economic data and corporate earnings. The MSCI Asia-Pacific gauge dropped 0.7%, a third consecutive day of decline. The dollar steadied Tuesday after climbing the most since May in the prior session. The S&P 500 briefly topped 6,400, but closed little changed. Oil held its gain after President Donald Trump pushed for Russia to reach a swift truce with Ukraine or face potential economic penalties. We talk markets with Vance Howard, CEO and Portfolio Manager at Howard Capital Management. Plus - Commerce Secretary Howard Lutnick says a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm. Lutnick's comments followed the start of a new round of talks between the world's two largest economies - this time in Stockholm, where Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent led the respective delegations. Earlier rounds saw Washington and Beijing agree to reduce tit-for-tat levies and ease export controls on certain technology and rare-earth minerals, easing tensions that had rattled financial markets as Trump moves to enact a sweeping tariff agenda. We get perspective from Marc Franklin, Managing Director & Senior Portfolio Manager, Asset Allocation, Asia at Manulife Investment Management. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.See omnystudio.com/listener for privacy information.

Stock-index futures climbed after the European Union struck a deal with President Donald Trump that will see the bloc face 15% tariffs on most exports, averting a potentially damaging trade war. S&P 500 contracts rose 0.4% and those for European stocks jumped 1%. The euro was slightly stronger against the dollar after the US-EU deal. Asian shares fluctuated at the open as Japanese equities declined 0.4%. Treasuries dipped slightly with yields on the 10-year gaining one basis point to 4.4%. Gold edged lower and oil was marginally higher. Investors are bracing for a busy week of data - including meetings of the Federal Reserve and the Bank of Japan - and earnings from megacap companies that could set the tone for the rest of the year in markets and the economy. Stocks have risen from their slump in April as investors speculate the US will strike trade deals with countries and that will help avoid significant damage to company earnings and the global economy. We preview the trading week ahead with Clark Geranen, Chief Market Strategist at CalBay Investments. Plus - Australia and the UK signed a landmark 50-year defense treaty on Saturday to underpin the construction of nuclear-powered submarines, senior ministers from both nations said. Both sides stressed that the treaty doesn't impact the AUKUS security partnership between Australia, the UK and the US - currently under review by the Trump administration. For a closer look, we speak with Paul Allen, Australia Correspondent for Bloomberg Television.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to a monetary policy decision from the Fed and earnings from some of the “Magnificent Seven” tech companies. In the UK – a look at President Trump’s trip to Scotland. In Asia – a look at ahead to China PMI data and a conversation on Asia tech investing. See omnystudio.com/listener for privacy information.

The US and Japan this week reached what President Donald Trump called the largest trade deal in history after Tokyo pledged to set up a $550 billion fund for investment into the US, details of which remain obscure.  The lack of clarity about how the fund will work adds to questions about the viability of the agreement, which imposes 15% tariffs on Japanese cars and other goods. While the start date and other basic elements are still unknown, Treasury Secretary Scott Bessent warned this week that the US would monitor implementation and bump the rate up to 25% if Trump isn't satisfied. In his latest column, Bloomberg Opinion's Gearoid Reidy writes that after three months, Prime Minister Shigeru Ishiba finally has his trade deal. Gearoid joins us to explain why it may be Ishiba's final act. Plus - the S&P 500 inched to a new record Thursday - its 10th in 19 days - driven by tech gains that papered over a broader weakness as most stocks in the benchmark dropped. The S&P 500 has surged 28% from its April lows as investors grew optimistic that President Donald Trump's tariff war won't hurt the economy and corporate earnings as initially feared. Meantime, South Korea's trade ministry said Friday that Industry Minister Kim Jung-kwan and US Commerce Secretary Howard Lutnick reaffirmed their will to reach a mutually beneficial trade agreement before August 1st deadline. For more on the economic impact of ongoing negotiations, we heard from Janet Henry, Global Chief Economist at HSBC. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian equities climbed for a sixth consecutive day as signs the US will do more trade deals after striking a pact with Japan injected fresh vigor into stocks. Megacap tech is in focus after a number of key earnings reports. SK Hynix outlined plans to quicken spending on advanced memory chip capacity after reporting record earnings, reflecting surging AI demand and a drive to stay ahead of rivals. The South Korean company notched a bigger-than-expected 68% jump in operating income in the June quarter. Stateside, shares of Google parent Alphabet climbed in after-hours trading on better-than-expected revenue. Meantime, CEO Elon Musk warned of a hard year ahead for Tesla, adding to the automaker's woes after reporting one of its worst quarters of the last decade. We get reaction to the Tesla story from Michael Dunne, CEO at Dunne Insights. He speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade. Plus - in her latest column, Bloomberg Opinion's Karishma Vaswani says hearsay about the inner workings of the Politburo has a long tradition of being wholly inaccurate. With that, intrigue over Chinese President Xi Jinping's future is no less than speculative, and the result of a succession crisis of his own making. She joins us to dissect the coded signals coming out of Beijing, and why the obsession with Xi's fate reflects the West's blind spots about Chinese politics.See omnystudio.com/listener for privacy information.

The record-breaking run in global stocks got fresh fuel to power the rally after the US reached a trade deal with Japan, an agreement with a key trading partner that eases concerns about the tariff war. MSCI's benchmark gauges for global equities and Asian shares both rose Wednesday. Contracts for the S&P 500 edged up on the tariff news after closing at its highest level Tuesday. Stocks in Japan jumped more than 2% with Toyota Motor Corp. and other automakers leading the gains. We break down the day's developments with David Aspell, Partner and Co-Chief Investment Officer at Mount Lucas Management. Plus - investors are also focused on megacap companies this week. Big Tech's strength will be on full display over the next few weeks as the group begins unveiling quarterly earnings. Tesla Inc. and Alphabet Inc. are reporting Wednesday. The so-called Magnificent Seven companies are expected to post a combined 14% rise in second-quarter profits, while earnings for the rest of the US equity benchmark are predicted to be relatively flat, according to Bloomberg Intelligence data. We discuss the role AI will play in those reports with Stephanie Leung, Chief Investment Officer at StashAway.See omnystudio.com/listener for privacy information.

The start of a busy week for Corporate America saw stocks giving up most of their gains, with traders looking for signs of resilience in earnings amid tariff risks. Treasury yields fell alongside the dollar. While the S&P 500 closed above 6,300 for the first time, the gauge rose just 0.1%. Energy shares joined a decline in oil. Chipmakers almost erased their advance as Nvidia Corp. slipped. Fellow megacaps Tesla Inc. and Alphabet Inc. will kick off the group's earnings season this week. The stakes will again be high as investors look for updates on artificial-intelligence spending. We break down the day's price action with Ed Butowsky, Managing Partner at Chapwood Investments. Plus - shares in Tokyo gained 1% as trading resumed after a public holiday Monday. The MSCI regional stock gauge advanced 0.3% in early trading. Market participants are focused on the performance of Japanese markets as investors weigh policy uncertainty after the ruling Liberal Democratic Party's historic loss in Sunday's elections. For a closer look, we hear from Sean Darby, Managing Director at Mizuho Securities Asia. He speaks with Bloomberg's Shery Ahn and Paul Allen on The Asia Trade.See omnystudio.com/listener for privacy information.

The yen recouped some of last week's losses as investors weighed the extent of the defeat suffered by Japan's ruling coalition in the weekend's upper-house election. Asian stock markets edged down. Japan's currency had dropped for two weeks and bond yields spiked ahead of the vote on concern a poor showing by Prime Minister Shigeru Ishiba would open the door to more spending and tax cuts. While the ruling Liberal Democratic Party and its partner lost their majority in the chamber, their final tally may be enough to keep Ishiba in the job. We get reaction from Shuntaro Takeuchi, Portfolio Manager at Matthews Asia. Plus - Donald Trump is struggling to get the Federal Reserve to cut interest rates, but policymakers around the world won't need so much convincing. The US president's tariff onslaught is likely to force further measured easing in coming months by most of the 23 central banks featured in this quarterly guide on the global monetary outlook, according to Bloomberg Economics. Federal Reserve Governor Christopher Waller hinted he would dissent if his colleagues vote to hold interest rates steady at their July meeting, making his case for a rate cut to support the labor market. We take a look at the Fed's path ahead with Clayton Triick, Head of Portfolio Management, Public Strategies, at Angel Oak Capital.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with 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 housing data and earnings from Tesla. In the UK – a look ahead to the next ECB monetary policy decision. In Asia – a look at ahead to Japan’s upper house election.  See omnystudio.com/listener for privacy information.

Asian stocks made a modest gain at the open Friday as a global equity rally gained fresh vigor on strong economic data that eased concerns about the US economy. The MSCI Asia Pacific Index rose 0.2% at the open. Equity-index futures for US gained after the S&P 500 and Nasdaq 100 set closing highs Thursday. Tech stocks rose as a bullish outlook from Taiwan Semiconductor Manufacturing Co. bolstered confidence in artificial-intelligence spending. Netflix Inc. also reported strong earnings and raised its forecast. We get market insights from Brian Vendig, Chief Investment Officer at MJP Wealth Advisors. Plus - Japan's key price measure cooled a tad more than expected while remaining well above the Bank of Japan's target, keeping pressure on Prime Minister Shigeru Ishiba to mollify voters as he heads into Sunday's national election. Consumer prices excluding fresh food rose 3.3% from a year earlier in June, slowing from a 3.7% gain - a two-year high - in the previous month, the Ministry of Internal Affairs and Communications reported Friday. We get reaction from former BOJ board member Sayuri Shirai, now Professor of Economics at Keio University. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian stocks struggled for direction at the open after US markets had a volatile session amid speculation about the future of Federal Reserve Chair Jerome Powell. In tariff news, President Trump dialed down his confrontational tone with China in an effort to secure a summit with counterpart Xi Jinping and a trade deal. Trump also said he would send letters to more than 150 countries notifying them of tariff rates and that the levies imposed could be 10% or 15%. We unpack how trade policy is resonating in APAC markets with Ecaterina Bigos, CIO for Asia ex-Japan Core Investments at AXA Investment Managers. Plus - the S&P 500 bounced as President Trump said he is "not planning" to remove Powell, after a White House official said the president was likely to seek the Fed Chair's ouster soon. Treasury two-year yields, which are more sensitive to imminent Fed moves, slid five basis points to 3.89%. The dollar halted a four-day advance. Softer-than-estimated inflation data also helped fuel the moves on Wednesday, reinforcing bets on Fed rate cuts in 2025. We get reaction to the day's market action from Rich Mullen, Founding Partner and CEO at Pallas Capital Advisors.See omnystudio.com/listener for privacy information.

Asian stocks moved lower in the early Wednesday session after relatively tame inflation data failed to ease Wall Street's worries about the impacts of tariffs, with initial rallies in US stocks and bonds sputtering on bets the Federal Reserve will keep rates on hold for now. The S&P 500 retreated after earlier topping 6,300. A gauge of US financial giants sank as Wells Fargo & Co. cut its guidance for net interest income. JPMorgan Chase & Co. dropped even as investment bankers eked out a surprise gain. Citigroup Inc. hit the highest since 2008 on a stock-buyback plan. While short-dated Treasuries led losses, longer maturities also slid - with 30-year yields topping 5%. We get reaction to the day's market action from Chuck Cumello, President and Chief Executive Officer at Essex Financial Services. Plus - Nvidia said late Monday that it received assurances that the US government would allow it to export some chips to China. Advanced Micro Devices, Nvidia's chief rival, quickly followed with a similar announcement. These export license approvals could generate billions of dollars in total revenue for the companies this year — and they mark a dramatic reversal after the Trump administration said the issue wasn't even up for debate. We take a closer look at what it means for the chip sector with Ray Wang, Research Director for Semiconductors, Supply Chain, & Emerging Tech at The Futurum Group. He speaks with Bloomberg's Haidi Stroud-Watts and Paul Allen on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian equities are poised for a positive open as traders brush off President Donald Trump's latest tariff threats as bargaining tactics that are unlikely to derail global trade. Stock-index futures for Japan, Hong Kong and Australia pointed to a higher open in early Asian trading. The S&P 500 eked out a gain Monday as Trump indicated he's open to trade talks, though still insisted his new tariff rates are "the deals." Contracts for the S&P 500 and the Nasdaq edged lower and Bitcoin retreated from its record high. We get some market perspective from Carol Schleif, Chief Market Strategist at BMO Private Wealth. Plus - Mizuho Financial Group CEO Masahiro Kihara is signaling that he is confident the Japanese lender can meet its long-term target of about ¥1 trillion - or $6.8 billion - in annual profit even as trade wars threaten to stifle growth. He speaks with Bloomberg's Francine Lacqua in London.See omnystudio.com/listener for privacy information.

President Trump’s latest tariff threats are testing the market’s resilience after the US leader ratcheted up trade measures on everyone from Canada to Brazil to Algeria last week. Despite warnings of complacency, investors have so far behaved as if they’re counting on the president to back down, having seen previous U-turns from his administration. Meantime, the second quarter earnings season is also due to begin this week, with Wall Street expecting the weakest reporting season since mid-2023. We speak to Roderick von Lipsey, managing director, UBS Private Wealth Management.Plus - for more insight on President Trump's latest tariff moves and a look at the week ahead in Asia, we speak to Mary Nicola, Bloomberg MLIV Strategist in Singapore.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI and PPI data, along with Netflix earnings. In the UK – a look ahead to a speech from UK Chancellor Rachel Reeves. In Asia – a look at several key data points for the Japanese economy.  See omnystudio.com/listener for privacy information.

The story of US tariffs has dominated much of the conversation for markets. Earlier today, stocks advanced Thursday in a sign investors are shifting their focus from concerns about lower growth and higher inflation from tariffs to instead prepare for corporate earnings season, which starts in a few days. We speak to Keith Buchanan, Senior Portfolio Manager at Globalt Investments.Also - contracts for the S&P 500, which gained early in Asian trading, dipped 0.2% after Trump said he plans to impose ‘blanket’ tariffs of 15% or 20%. We get insight from Nadia Grant, Head of Global Equity at BNP Paribas Asset Management.See omnystudio.com/listener for privacy information.

Bitcoin surged past $112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small. The original cryptocurrency rose as much as 3.1% to $112,009, pushing its gain this year close to 20%. The move underscores the speculative momentum gripping markets even as President Donald Trump unleashes a fresh barrage of tariff announcements. The crypto rally is far from isolated: Nvidia Corp.’s brush with a $4 trillion valuation in Wednesday trading helped push the S&P 500 within a whisker of its record, with fast-money investors joining the stock-market fray. We speak to Matthew Tuttle, CEO & CIO at Tuttle Capital Management.Also - President Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva. In a letter posted to his social media account, Trump cited Jair Bolsonaro — the right-wing former president and Lula rival who is facing a trial on charges that he attempted a coup following his 2022 election defeat. For more insight, we heard from Deborah Elms, Head of trade policy at Hinrich Foundation.See omnystudio.com/listener for privacy information.

President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals. The posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called “reciprocal” tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements. For more  the market outlook, we speak to Frances Stacey, Economic Strategist at Scarlet Oak Financial.Plus - Stephen Olson, Yusof Ishak Institute Senior Visiting Fellow and Former US Trade Negotiator gives us insight on where President Trump is going with his latest tariff announcement.See omnystudio.com/listener for privacy information.

President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, but suggested that he was still open to additional negotiations and pushed off increased duties until at least Aug. 1. Trump began the notifications with missives announcing his intent to impose 25% levies on goods from Japan and South Korea. A dozen more followed throughout the afternoon, outlining plans to tariff foreign goods from trading partners including South Africa, Indonesia, Thailand and Cambodia. We speak to Ahmed Riesgo, Chief Investment Officer at Insigneo.And for more analysis, we heard from Skyler Weinand, Chief Investment Officer at Regan Capital.See omnystudio.com/listener for privacy information.

Major US trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate. Also, central banks in Australia, South Korea, and Malaysia are expected to keep interest rates on hold in the week ahead. We speak to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.Plus - for more insight on President Trump's tariff deadline nearing and the economic week ahead for Asia, we heard from Trinh Nguyen, Natixis Senior Emerging Asia Economist.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to Delta earnings and a summer travel outlook.  In the UK – a look ahead to JP Morgan's Jamie Dimon visit to Ireland ahead of the US tariff deadline for Europe In Asia – a look at how recent data from China are providing an ambiguous read on the health of the world's second largest economy. See omnystudio.com/listener for privacy information.

Asian equities were set to climb Friday following fresh highs for US stocks as strong jobs data eased concerns the economy slowing down. Treasuries fell and the dollar rose Thursday in a sign traders see less pressure on the Federal Reserve to cut interest rates after US jobs growth exceeded expectations in June. Swap traders saw almost no chance of a July Fed cut, compared with a roughly 25% probability seen before the data. The chance of a move in September ebbed to about 70%. We get reaction from Rob Haworth, Senior Vice President and Senior Investment Strategy Director at U.S. Bank Asset Management Group. Plus - US markets closed prior to the House passing President Donald Trump's tax bill that had weeks earlier sparked concerns over rising deficits. Separately, Trump also said his administration may begin sending out letters to trading partners as soon as Friday setting unilateral tariff rates ahead of a July 9 deadline for negotiations. Before the vote, we heard from Treasury Secretary Scott Bessent. He spoke with Bloomberg's Romaine Bostick and Matt Miller.See omnystudio.com/listener for privacy information.

A rally in several big tech companies fueled gains in US stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a selloff in UK bonds underscored deficit worries. Following earlier losses driven by weak jobs data, the S&P 500 rose to fresh all-time highs. In the run-up to the jobs report, economists forecast employers added 110,000 jobs in June — the fewest in four months — amid a slight rise in the unemployment rate to 4.3%. The Bureau of Labor Statistics report is due Thursday, a day earlier than usual because of the Independence Day holiday. We get reaction to the day's market moves from Brian Krawez, President at Scharf Investments. Plus - the trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what's happening elsewhere: US efforts to forge deals that could isolate Chinese firms from global supply chains. Ahead of a July 9 deadline, US officials are deep in talks with major trading partners in Asia and Europe, pushing for new agreements that would include restrictions on Chinese content, or secure commitments to counter what Washington sees as China's unfair trade practices. In the first such deal, President Donald Trump on Wednesday announced a tiered tariff agreement with Vietnam. Exports to the US from the Southeast Asian nation will be charged a 20% rate, Trump said in a social-media post, with 40% levied on any goods deemed to be transshipped through the country. We get the latest from Jill Disis, Bloomberg News Desk Editor in Hong Kong. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian shares edged lower at the Wednesday open after President Donald Trump said he won't delay the July 9 deadline for imposing higher levies on trading partners, ratcheting up trade tensions yet again. Back in June, China and the US reaffirmed their May trade truce, sustaining a rebound in trade flows and propelling China's economic momentum. Bloomberg Economics says consumption also showed signs of revival, but the trend is unlikely to last without continuous policy efforts that promote domestic demand. We take a look at the state of the Chinese economy with Shehzad Qazi, Chief Operating Officer and Managing Director at China Beige Book International. Plus - US job openings hit the highest since November, largely fueled by leisure and hospitality, and layoffs declined. Federal Reserve policymakers have consistently characterized labor-market conditions as strong in recent weeks. Fed Chair Jerome Powell repeated that the US central bank probably would have cut rates further this year absent Trump's expanded use of tariffs, although he didn't rule out easing at its meeting later this month. We get market insights from Jeff Grills, Head of EM Debt at Aegon Asset Management.See omnystudio.com/listener for privacy information.

Asian stocks are poised for a cautious open as investors weighed the buoyant mood on Wall Street with lingering concerns over the global impact of President Donald Trump's tariff agenda. Equity-index futures pointed to a decline in Tokyo as Trump threatened to impose a fresh tariff level on Japan. Contracts for the S&P 500 edged down 0.1% after the index notched its best quarter since December 2023 on Monday, with technology shares leading. Wall Street's bulls drove stocks to all-time highs at the end of a solid quarter amid hopes the US is moving closer to reaching concrete deals with its top trading partners. We break down the forces driving the day's price action with Burns McKinney, Managing Director and Senior Portfolio Manager at NFJ Investment Group.Plus -  with thousands of generative AI tools flooding the market and firms slashing prices to zero, Chinese startups are battling not just global rivals - but each other. We explore the challenges facing the so-called "Little Dragons," the role of state support, and why monetizing AI might be the industry's biggest unsolved puzzle with Catherine Thorbecke, Asia Tech Columnist for Bloomberg Opinion.See omnystudio.com/listener for privacy information.