Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Global equities sold off for a fourth day as concerns about the economic impact of the trade war intensified before Donald Trump unveils more tariffs this week. (2) Japan’s blue-chip Nikkei 225 Stock Average slumped to enter a technical correction as exporter- and chip-related stocks slid on concerns about the global trade war. (3) President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2. (4) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs. (5) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.See omnystudio.com/listener for privacy information.
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22:47
Tariffs On ‘All Countries’, Stock Slump Deepens & FX Turmoil Fears
Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2. (2) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs. (3) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth. (4) Global equities sold off for a fourth day ahead of President Donald Trump unveiling a fresh round of tariffs and mounting concerns about economic impact from a global trade war. (5) This was a historic quarter for European stocks. Investors are now wondering if there will be an encore. Doubts have grown around the US exceptionalism trade due to uncertainty from Donald Trump’s tariff policies and government job cuts — and Europe is emerging as a beneficiary. (6) Major players in the foreign exchange market are concerned about a potential system-wide crisis due to a "liquidity mirage" that creates the illusion of market depth, while actual liquidity is drained away.See omnystudio.com/listener for privacy information.
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16:53
Daybreak Weekend: US Jobs Preview, NATO, RBA's Rate Decision
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 preview of US March jobs and a look at the potential impact of auto tariffs. • In the UK – an assessment of NATO's position amid growing global tensions.• In Asia – a preview of the Reserve Bank of Australia's next rate decision. See omnystudio.com/listener for privacy information.
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37:51
Ukraine Investment Control, $1 Trillion In Cuts & University Debt Fears
On today's podcast:(1) The US is pushing to control all major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv’s other allies and undermining its bid for European Union membership.(2) Federal Reserve Bank of Boston President Susan Collins said it looks “inevitable” that tariffs will boost inflation, at least in the near term, adding it’s likely appropriate to keep interest rates steady for longer. (3) Donald Trump has piqued European leaders’ interest in currency markets. After the euro jumped against the dollar, French president Emmanuel Macron quizzed central bank chief Christine Lagarde on the outlook for the exchange rate in private conversations in Brussels last week, according to people briefed on the discussions.(4) UK Chancellor of the Exchequer Rachel Reeves boasted on Wednesday that she had restored her fiscal buffer to £9.9 billion ($13 billion). A day later, she had lost half of it. (5) Elon Musk, the billionaire running President Donald Trump’s federal cost cutting effort, said he plans to slash $1 trillion in government spending by the end of May.(5) European leaders are trying to carve out a role for themselves in US-led ceasefire talks over Russia’s war in Ukraine as more than 30 of them gather Thursday for an impromptu defense summit in Paris.See omnystudio.com/listener for privacy information.
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17:07
BONUS EPISODE: Trump Auto Tariffs Spur Market & Political Response
President Donald Trump signed a proclamation to implement a 25% tariff on auto imports, which will come into effect on April 3, initially targeting fully assembled vehicles. Trump also suggested further tariffs would be imposed on the European Union and Canada if they worked together “to do economic harm” to the US, and threatened levies on lumber, semiconductors, and pharmaceutical drugs. The tariffs are expected to raise prices of foreign-made cars, and even US-made vehicles may see price increases if supplies and parts are hit by levies or if supply chains are cut off from manufacturing in lower-cost countries. In this bonus episode of the Bloomberg Daybreak Europe Podcast Caroline Hepker and Stephen Carroll get the thoughts of our EMEA News Director Ros Mathieson and our Markets Live Executive Editor Mark Cudmore as well as hearing from Carl Tannenbaum, Chief Economist at Northern Trust.See omnystudio.com/listener for privacy information.
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