Bloomberg Daybreak: US Edition

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

  1. 7 hr ago

    US Attacks Prompt Iranian Retaliation; MA Election Results

    Today's top stories, with context, in just 15 minutes.On today's podcast:1) Fighting between the US and Iran over control of the Strait of Hormuz escalated, with Tehran accusing American forces of bombing a residential area in a wave of overnight strikes.The US military carried out its second round of attacks in three days, which US Central Command said targeted radar systems and mine-laying capabilities along Iran’s southern coast. This prompted the Islamic Republic to retaliate with drone and missile volleys on US bases across the Middle East, in line with tactics used throughout the six-month war.2) Three Massachusetts Democrats with more than 110 years of service in Congress between them held off much younger challengers in Tuesday’s primaries.Sen. Ed Markey, an outspoken progressive, trounced Rep. Seth Moulton, a more moderate candidate, by 65%-35% in nearly complete returns. Moulton, 47, ran an anti-establishment and generational-change campaign that tried to make the case that Markey, 80, shouldn’t be given another six-year Senate term he would finish at age 86. Markey said he was as invigorated as ever to stand up to the Trump administration.3) The selloff sweeping global bond markets looks painful, but it’s nothing compared with the rout four years ago, when soaring inflation forced central banks into a series of rapid-fire interest-rate hikes.The difference is scale. While the latest pullback has driven yields to multi-year highs in the world’s biggest markets, the move is just a fraction of the one seen in late 2022. Global government bond yields have risen 17 basis points on a rolling 20-day cumulative basis, compared with 62 basis points back then, data compiled by Bloomberg show. On a peak-to-trough basis, bonds have lost 4.2% this year — a far cry from the 23% plunge seen in 2022. See omnystudio.com/listener for privacy information.

  2. 2 days ago

    US-Iran Exchange Strikes; Nepal Races to Find Missing

    Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran exchanged strikes as American forces hit an island in the Strait of Hormuz and Iran responded by launching attacks on the United Arab Emirates and Jordan. Iranian media said the country's authorities seized a bulk carrier near the port of Bandar Abbas and claimed an oil supertanker was hit by mines early on Monday. The incidents underline the high tensions between Washington and Tehran, with crude oil prices rising and several current and former US and Iranian officials expecting the conflict to drag on for months. 2) Bond investors are skeptical about speculation that Federal Reserve Chairman Kevin Warsh is poised to raise interest rates after his speech on Friday. Investors have doubts due to Warsh's past comments and actions, which have not always been clear, and are bracing for the risk that he keeps rates steady again. The reaction of the market will depend on upcoming economic data, including employment and inflation figures, with some investors warning that the Fed's credibility could be at risk if it does not follow through on expected rate hikes. 3) Nepal is racing to find thousands still missing after a glacial collapse unleashed catastrophic flooding along the border with China, with rising water levels and worsening weather threatening to hamper rescue efforts. More than 8,700 people have been rescued, with almost 20,000 security personnel mobilized, and at least 752 people have been confirmed dead, while over 3,000 are still unaccounted for. Rescue personnel have been told to exercise "utmost caution" as they work to retrieve bodies and provide relief services, with challenges mounting as days pass and weather conditions weigh on rescue efforts. See omnystudio.com/listener for privacy information.

  3. 5 days ago

    Warsh At Jackson Hole; Iran Says Diplomacy Not Impossible

    Today's top stories, with context, in just 15 minutes.On today's podcast:1) Traders are looking for clarity on Federal Reserve Chair Kevin Warsh's economic outlook and strategy for bringing inflation back to target ahead of his address at Jackson Hole. Warsh’s address is shaping up as a crucial moment for markets as doubts about his commitment to taming inflation have helped push up long-term yields. The speech will be more significant for the foreign-exchange, gold and bond markets than for equities, according to Ulrich Urbahn, head of multi-asset strategy and research at Berenberg.2) Iran's top diplomat said resuming diplomacy with the US "isn't impossible" after "creative discussions" with Qatar. Foreign Minister Abbas Araghchi said progress "hinges on U.S. understanding of one simple fact: pressure doesn’t work" and called on Washington to build trust and uphold its commitments. The US remains hawkish in its public comments, with President Trump signaling he will not lift a blockade of Iranian ports just to restart talks.3) Nepal will need at least “a few billion dollars” to recover from the devastation caused by flash floods, according to Finance Minister Swarnim Wagle. At least 469 people have been confirmed dead and more than 1,500 people are missing across Nepal and China after flash floods wiped out bridges, roads and entire settlements. Multilateral institutions including World Bank and Asian Development Bank have committed funds for humanitarian needs, while neighboring countries including India and China have provided supplies and financial assistance. See omnystudio.com/listener for privacy information.

  4. 6 days ago

    Nvidia's Blowout Quarter; Investors Gauge Jackson Hole

    On today's podcast:1) Nvidia gave a bullish sales outlook for fiscal 2028, with Chief Financial Officer Colette Kress saying the company expects to grow revenue by approximately 70% in fiscal 2028. The company's second-quarter earnings report showed revenue of $96.2 billion, with profit of $2.22 a share, excluding certain items, and its data center division had revenue of $89 billion. Nvidia warned that margins would narrow in the coming months due to a surge in memory costs, but expects the measure to settle down to 72% to 73% in fiscal 2028 as the company increases its own prices.2) Central bankers gathering in Jackson Hole, Wyoming will emphasize a global rethink on inflation and the prospect of higher borrowing costs in the face of new threats. Faced with upward price pressures from the Iran war, the artificial intelligence investment boom and extreme weather, some central banks have already raised rates, with more expected to follow suit. Investors are increasingly jumpy over how the latest inflationary forces will combine with rising debt levels, and will be keen to hear from Fed Chairman Kevin Warsh, who has so far avoided a firm stance on tackling prices.3) Federal Reserve Governor Lisa Cook denied unproven mortgage fraud allegations repeated by President Trump. Cook's attorney Abbe Lowell called the allegations "unfounded and untrue" in a letter sent to the White House, stating that Cook has never committed mortgage fraud or any intentional wrongdoing. The White House did not have an immediate comment on Cook's letter, which comes after Trump narrowly lost his initial bid at the Supreme Court to oust Cook. See omnystudio.com/listener for privacy information.

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Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

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