Business
Treasury Secretary Yellen Heads to China This Week
Treasury Secretary Janet Yellen will travel to Beijing later this week. She would become the second member of Joe Biden’s cabinet to head to the Chinese capital in recent weeks as the world’s two largest economies look to mend relations. Stephen Engle reports on Bloomberg Television.
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“Bloomberg Crypto” covers the people, transactions, and technology shaping the world of decentralized finance. Today’s guests: Blockstream Co-Founder & CEO Adam Back, Chainalysis Head of Research Eric Jarine, Jito Labs COO & Chief Legal Officer Rebecca Rettig, and Franklin Templeton Head of Innovation Sandy Kaul.
YouTube Chapters:
00:00 Crypto Markets opens
02:50 Adam Back, Blockstream CEO, on Bitcoin and Liquid Network
05:04 Blockstream’s Liquid Network Hack
06:00 AI and Crypto Security Risks
07:46 Bitcoin’s Quantum Computing Risk
09:49 Bitcoin’s Market Maturity
11:00 Adam Back on Satoshi Nakamoto Rumors
13:27 Eric Jardine, Chainalysis, on AI Agent Crypto Payments
14:04 Rise of AI Micropayments
15:34 U.S. Leads Agentic Commerce
16:58 AI Payments vs. Traditional Payment Rails
18:51 Crypto Policy After the Clarity Act
20:10 SEC, CFTC and Future Crypto Regulation
20:50 Agentic Payments and Stablecoins
22:54 Political Exchange: Crypto and Washington
23:57 Rebecca Rettig, Jito Labs, on Crypto Regulation
25:18 SEC and CFTC Rules After the Midterms
26:44 Clarity Act and the Ethics Debate
28:35 Why the Clarity Act Failed
30:15 Token Moment: Sandy Kaul, Franklin Templeton
30:43 Franklin Templeton’s Tokenization Strategy
31:40 Tokenized Funds and Agentic Payments
32:46 Tokenization and Traditional Finance
33:51 Competition on Blockchain Rails
35:15 Who Will Lead Tokenized Finance?
36:39 JPMorgan Expands JPM Coin to Ethereum
37:31 JPM Coin vs. Stablecoins
38:36 JPMorgan’s Blockchain Position
39:18 Stablecoins Disrupt Money Transfers
40:39 Immigration and the Remittance Industry
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The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Charles Schwab Chief Investment Strategist Liz Ann Sonders, IDC Senior Director, Data & Analytics Nabila Popal, Susquehanna Senior Equity Research Analyst Mehdi Hosseini, KPMG US Chair & CEO Tim Walsh, Envestnet CIO Dana D’Auria, Hirtle & Co Founder & Executive Chair Jon Hirtle, Gerber Kawasaki Wealth & Investment Management President & CEO Ross Gerber, Blue Sky Productions President John McElroy, & Porsche CEO Michael Leiters.
Chapters:
00:00:00 Bloomberg The Close
00:02:50 Liz Ann Sonders on AI, Bonds & Market Rotation
00:08:00 Fed Rate Hikes, Diversification & Investor Positioning
00:11:03 Smartphone Slump, Memory Chip Shortage & Rising Prices
00:16:00 KFC Drops Pepsi for Coke & Top Wall Street Calls
00:17:00 Top Calls
00:18:09 TSMC Earnings, AI Demand & the Chip Buildout
00:23:30 KPMG CEO on AI Investment & Corporate ROI
00:28:42 AI Jobs, Geopolitics & the CEO of the Future
00:32:14 Rocket Lab Delays Its Neutron Rocket
00:36:50 Markets Rebound as Treasury Yields Fall
00:41:06 Fed Chair Kevin Warsh, Inflation & Rate Policy
00:45:17 Closing Bell
00:50:37 Market Movers, J.B. Hunt Earnings & Consumer Pressure
00:54:03 Market Recap: Defensive Stocks & Falling Yields
00:57:30 John Hirtle on AI Investing & Portfolio Strategy
01:02:47 Private Markets, Venture Capital & Diversification
01:04:21 J.B. Hunt Earnings, Trucking & Driver Shortages
01:08:35 Tesla Roadster, SpaceX & Elon Musk’s Strategy
01:14:17 Tesla’s Future, Robotaxis & the Auto Industry
01:18:20 Porsche CEO Unveils New Supercar Above the 911
01:23:32 Porsche Pricing, China & Luxury Car Strategy
01:28:24 Porsche’s Transformation & Future Product Lineup
01:30:39 What to Watch: Tesla Roadster, Fed Chair & Economic Data
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, 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.
On today’s show, AI jitters returned after the Korean data center firm Elice flopped on its stock market debut. Shares fell as much as 35% after its IPO, which raised $151 million.
Bloomberg has learnt that the AI cloud computing firm Nscale is in talks to sell computing power to Anthropic, in a deal that could be worth about $45 billion.
The German Chancellor Friedrich Merz has warned against complacency over the dangers posed by Russia, saying that President Putin is seeking to undermine democracy in Europe.
And tougher security measures, including an 11pm curfew in some parts of Paris and other cities, appear to have quelled violent protests in France for now. But unions have called for a strike next month, with more demonstrations planned for this Saturday.
Today’s guest: Ana Boata, Allianz Trade, Head of Economic Research
Chapters:
00:00:00 – Daybreak Europe
00:01:39 – Elice’s 33% Debut Plunge Rekindles Doubts Over AI Spending Boom
00:03:19 – Japan 20-Year Bond Sale Sees Record Demand
00:07:21 – Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal
00:12:49 – Merz Warns Europe That It’s Underestimating the Russian Threat
00:18:31 – French Unrest Tapers Off After Security Measures Imposed
00:27:46 – Ana Boata, Allianz Trade, Head of Economic Research
00:34:39 – Ukraine Suspects US Blocking Intelligence on Russian Attacks
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Fed Chairman Kevin Warsh described AI as potentially the most consequential change to the US and global economy in his lifetime, calling it a positive supply shock over the medium term. He spoke at an IMF event moderated by IMF Chief Kristalina Georgieva in Bangkok, Thailand.
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Once-simple airline rewards programs have morphed into a convoluted system that makes it harder for customers to land deals.
Allyson Versprille explains why the airline rewards game is getting tougher to win
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@robertgondola4418
December 16, 2023 at 1:12 pm
What an old crusty crow!!!
@jonhart-dj7fn
December 16, 2023 at 1:12 pm
I'm going to say yellen is a spy for the China business model which have us under wraps techno wise moving forward USA made their own bed with dirty political prowess bs
@jonhart-dj7fn
December 16, 2023 at 1:12 pm
Heard the recent house speaker is going to replace yellen … Our only hope 🍀
@jonhart-dj7fn
December 16, 2023 at 1:12 pm
Let's make it perfectly clear yellow 💛
@jonhart-dj7fn
December 16, 2023 at 1:12 pm
We need more transparency lmfao where's Obama's teammate
@jonhart-dj7fn
December 16, 2023 at 1:12 pm
My God Almighty who's they 😮
@jonhart-dj7fn
December 16, 2023 at 1:12 pm
Imagine her voice on an Ai platform like MSFT google whateva
@jonhart-dj7fn
December 16, 2023 at 1:12 pm
Yellen shook something .. loose in her pancreas 😮
@redteam9881
December 16, 2023 at 1:12 pm
Yellen asking for help in 2024 elections for Biden from CCP
@tomtude
December 16, 2023 at 1:12 pm
she need a hair cut first before she talk . can somebody donate her some money for a good haircut ?? please ..America should clean up their own backyard about drugs and gun ,crime before talk about China have no human rights,,, sick and tire of that ,,
@redteam9881
December 16, 2023 at 1:12 pm
Miss Transitory goes to China !
Not a word about the poison sent to Mexican Cartels from China coming thru our Southern Boarder killing thousands of Americans.
@user-lb4yx1ms5f
December 16, 2023 at 1:12 pm
She has the most difficult job in the world, managing a country's finance with the largest debt ever in the history of mankind.
@johnsmith-lx9lw
December 16, 2023 at 1:12 pm
She is too old, not all old people are wise, look at biden, Yellen is just selling land to China.
@goneviral8814
December 16, 2023 at 1:12 pm
All this begging from the Chinese and the Saudis would have not happened if we simply didnt use that "money printer".
@qzorn4440
December 16, 2023 at 1:12 pm
US Treasury Secretary Janet Yellen is a wonderful person. 👩🦳 Thank you. The world knows China is ran by Communist's Dictators, so what gives? 😏 If the shoe fits.
@hansang5178
December 16, 2023 at 1:12 pm
Yankee Beggar is coming
@computerpro123abc
December 16, 2023 at 1:12 pm
Who's side is biden on usa or china?
@computerpro123abc
December 16, 2023 at 1:12 pm
The Chinese (the guys who threaten us every day to go to war over the south china sea)
are complaining and wining about falling export and falling currency!! the yuan
has lost 6% in value since january!!! SO they want the USA to support their currency
so it will not lose any more value. Blankin's word was not good enough so biden
(kowtows) by sending yellen to promise usa supporting the yuan to the determent
of usa dollar and consumers(china has already raised prices on exports 20% to 50%.
who's side is biden on usa or china?
@computerpro123abc
December 16, 2023 at 1:12 pm
Yes with yellen's advice(bidens secret weapon) will destroy the chinese econoy, just
as she has done to the USA!!! Good thinking joe send blinken and yellen to advise
china, next send Harris and austin to advise china. THAT WILL SET THEM BACK 20 YEARS!!! GREAT PLAN JOE!!!
@computerpro123abc
December 16, 2023 at 1:12 pm
Wow all the kings(Biden) men and women have to kowtow to the chinese? I thought
we were ready to go to war to defend Tiwan, philipines, vietnam(defense Rich, free loaders)???
@124marsh
December 16, 2023 at 1:12 pm
Now we know why Janet Yellen is doing the job that Joe Biden should be doing Joe Biden is so coked up you can’t meet with any world leader
@joneyu655
December 16, 2023 at 1:12 pm
want China to buy US bonds again, get lost😂😂😂
@TommyJones49
December 16, 2023 at 1:12 pm
Is Yellen Biden Hunter Pelosi FBI DOJ IRS all DDT. Demented Domestic Terrorists?
@mariochua6510
December 16, 2023 at 1:12 pm
China will never change. World domination is the ccp's main objective. Her actions have puzzled me ever since she head that department.
Do not forget ' the end justice the means. She seems to have business in china. Do not forget too the anti spying law.
@kenrie20022
December 16, 2023 at 1:12 pm
Complete shameless administration. Biden called Xi a dictator then sending treasury secretary to China.