Bloomberg Daybreak: Europe 06/05/2025
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Today's guest: Sabrina Kanniche, Senior Economist at Pictet Asset Management (Source: Bloomberg)
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Yahoo
43 minutes ago
- Yahoo
Lammy seeks to ‘deepen' UK-India ties on New Delhi visit
David Lammy will seek to deepen UK-India economic ties as he visits New Delhi this weekend, saying Britain's recently agreed trade deal with the country is 'just the start of our ambitions'. Trade and migration will be at the top of the agenda for the Foreign Secretary's trip, during which he will meet Indian Prime Minister Narendra Modi and external affairs minister S Jaishankar. The Foreign Office said Mr Lammy would also raise 'the recent escalation in tensions following the Pahalgam terrorist attack, and how the welcomed sustained period of peace can be best supported in the interests of stability in the region'. Pakistan and India agreed to a US-brokered ceasefire last month after rising hostilities between the two nuclear-armed rivals followed a deadly attack on tourists in Pahalgam, Kashmir. Ahead of the visit, Mr Lammy said: 'Signing a free trade agreement is just the start of our ambitions – we're building a modern partnership with India for a new global era. 'We want to go even further to foster an even closer relationship and co-operate when it comes to delivering growth, fostering innovative technology, tackling the climate crisis and delivering our migration priorities, and providing greater security for our people.' The Foreign Office said talks in New Delhi would aim to 'deepen and diversify the Comprehensive Strategic Partnership between the two countries'. 'The Foreign Secretary will also welcome progress in our migration partnership, including ongoing work on safeguarding citizens and securing borders in both countries,' it said.
Yahoo
an hour ago
- Yahoo
Trump Says Xi to Restart Rare Earth Flows, Sets Date for Talks
(Bloomberg) -- President Donald Trump said his Chinese counterpart Xi Jinping had agreed to restart the flow of rare-earth materials, as negotiators from the two nations prepare to resume trade talks on June 9 in London. Next Stop: Rancho Cucamonga! ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Where Public Transit Systems Are Bouncing Back Around the World US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn Trump Said He Fired the National Portrait Gallery Director. She's Still There. The developments come as the world's two largest economies look to resolve a simmering dispute over tariffs and technology that has unnerved markets. Trump and Xi held a 90-minute call on Thursday that saw the two agree to defuse growing tensions spurred by concerns over the flow of critical minerals needed by American firms. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer are set to meet Monday 'with Representatives of China, with reference to the Trade Deal,' Trump said Friday on social media. 'The meeting should go very well.' Earlier talks between the two countries in Switzerland in May resulted in a tariff truce between Beijing and Washington that set the stage for further discussions on trade. But negotiations between the rivals stalled after the Geneva meeting, with both sides accusing the other of violating the agreement that brought down duties from massive highs. The US expressed concerns over the lack of rare-earth magnets essential for American electric vehicles and defense systems, while China bristled at fresh US restrictions on artificial intelligence chips from Huawei Technologies Co., as well as other advanced technologies and crackdowns on foreign students in the US. Asked Friday if Xi had agreed to restart the flow of rare-earth minerals and magnets, Trump told reporters on Air Force One: 'Yes he did.' China also approved temporary export licenses to critical mineral suppliers to major US automakers, Reuters reported earlier. But questions remain about what Trump conceded to Xi in their call, which the US president had eagerly sought. The Chinese Foreign Ministry in a statement said that Trump told Xi Chinese students are welcome to study in the US, and Trump later said it would be his 'honor' to welcome them. The call between Trump and Xi generated some hope on Wall Street for lower duties between the US and China, although investor optimism was limited, citing the lack of details on key matters and the thorny issues that await negotiators. The inclusion of Lutnick in the new round of talks may signal that Trump is willing to reconsider some of the technology curbs that threaten to hobble China's long-term growth ambitions. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Sign in to access your portfolio
Los Angeles Times
an hour ago
- Los Angeles Times
Stocks will rally despite extended dollar declines, markets survey finds
US equities will put the worst of this year's trade-war turmoil behind them and rally to fresh highs in 2025, according to a survey of Bloomberg subscribers who attended a panel discussion on macro trends. The S&P 500 will climb to 6,500 — a better than 9% increase from Thursday's close — by year-end, according to 44% of the 27 responses in a Markets Live Pulse survey. The index was seen reaching that level by the first half of next year by 26% of participants, with 11% saying it would happen in the second half and the remainder estimating 2027 or later. A rally to 6,500 would likely mean the market fully moves on from concerns that President Donald Trump's tariffs may severely damage the economy. It would represent a substantial recovery from the impact of the trade war, which currently has the US benchmark hovering just above its starting level for 2025. Expectations for the dollar are gloomier, with 68% of the 25 respondents to that question forecasting the US currency will keep falling at least until the first half of next year. That includes the 40% of participants who expect the depreciation trend to extend into 2027. The MLIV panel discussed both whether US exceptionalism in equities was past its use-by date, and the potential that concerns about how sustainable the dollar's haven role has become. The survey responses may be taken to signal doubts that US equities will be knocked from their perch anytime soon, especially given the still-positive impacts from the AI boom expected to feed through into corporate earnings. The dollar's downtrend is seen as far more sustainable. That signals respondents may be leaning into the idea that the currency channel will go on being the clearest expression of concerns regarding US assets in general. If investors are going to be demanding a greater premium to put their money into the US that will come via a lower US dollar level, rather than via sustained, serious declines in nominal asset prices. As for Treasuries, responses were more evenly split. A modest majority, 56% of the 25 who answered that question, expected the 10-year yield to end 2025 at 4.6% or above. That included the 24% of the total who forecast it would be above 5%. The yield was at 4.39% on Thursday. Some 20% saw it dropping below 4%. The MLIV Pulse survey was conducted among Bloomberg clients immediately after MLIV's Money & Macro panel held Thursday on How to Trade the New Markets Regime. Sign up for future surveys here. Reynolds writes for Bloomberg
