The dollar fell and Treasury yields declined on bets that US interest-rate cuts could come sooner than expected, following a report that President Donald Trump may fast-track his pick for the next Federal Reserve chair. The moves followed a Wall Street Journal report that Trump may announce Jerome Powell’s replacement as soon as September, an unusually early appointment.
The Fed unveiled plans to roll back an important capital rule that big banks have said limits their ability to hold more Treasuries and Shell said it has no intention of making a takeover offer for BP refuting an earlier report that two of Europe’s biggest companies were in active merger talks.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Kriti Gupta.
Chapters:
00:00:00 – The Opening Trade
00:02:23 – Fed Chair Replacement
00:03:30 – Trump, Iran Talks Next Week
00:04:47 – Fed’s Bank Capital Rules
00:07:14 – NATO Defense Spending Boost
00:10:57 – Mars Kellanova Takeover
00:11:28 – Shell: No BP Offer Made
00:14:17 – Trump: Spain Tariffs ‘Double’
00:14:58 – Spain on NATO Spending: ‘No Repercussions’
00:24:59 – Trump Wants to Replace Powell
00:27:07 – Fed: Bank Capital Rules
00:36:25 – Spain Stocks Rally
00:38:31 – Dollar, Treasuries Move
00:47:24 – Stocks to Watch, BP, Shell H&M
01:06:59 – Shell Denies BP Takover Talks
01:09:18 – H&M Outperforms
01:10:55 – Nike ‘Snoafer’ Shoe
01:16:19 – KKR Partner Alice Wood
01:25:33 – Mamdani Win: Wall Street Reacts
01:31:21 – NATO, Trump, Defense Spending
01:33:38 – Dollar Four-Day Losing Streak
——–
More on Bloomberg Television and Markets
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