The yen has extended its sharp rebound — gaining as much as 1.2% against the dollar today. Traders are increasingly alert to another intervention by Japan and the US after last month’s record $96 billion effort. Investors are also questioning whether the Bank of Japan could raise interest rates more aggressively than previously expected. Bloomberg’s Macro strategist Skylar Montgomery Koning joins Stephen Carroll and James Woolcock on Bloomberg Radio to discuss.
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Uber now lets you book a robotaxi in London — but you’ll still be joined by a human in the front seat.

Olivia Solon explains why.
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US equity futures and global bonds fall as higher oil prices fuel inflation concerns and bets that central banks will raise interest rates in September. Two oil supertankers were struck by projectiles while attempting to exit the Strait of Hormuz. US Army Secretary Dan Driscoll resigns after clashing with Defense Secretary Hegseth. Anthropic agrees to a $35 billion computing deal with Lambda, a cloud provider backed by Nvidia. Wei Li of BlackRock discusses the risks and income opportunities within the fixed income market.

Chapters:
00:00:00 – Bloomberg Brief Begins
00:00:44 – Global Market Check: Global Bond Selloff & Asian Markets
00:02:38 – European Markets & Rising Yields
00:03:46 – US Treasury Yields, Oil & Market Outlook
00:05:04 – First Look Movers
00:06:01 – Trump, Iran & Strait of Hormuz Tensions
00:10:00 – Global Bond Yields & Fed Rate Hike Outlook
00:15:23 – US Plan for Venezuela’s Oil Reserves
00:17:46 – Anthropic’s $35 Billion AI Capacity Deal, Chinese AI Companies & Monetization
00:20:28 – Front Page News
00:23:38 – Wei Li, BlackRock Global Chief Investment Strategist, on Rising Global Yields, What’s Driving the Bond Market Selloff, & Fed Policy, & September FOMC
00:33:26 – Trending on the Terminal
00:34:44 – Trump on Iran & US Munitions
00:35:06 – Pentagon Resignations & Iran War, US-Venezuela Oil Deal, & Medicare Drug Prices & Midterm Politics
00:39:32 – Anthropic, Lambda & AI Infrastructure, Shein IPO & Market Reaction
00:42:17 – What to Watch
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US public debt just crossed $40 trillion, but the country is hardly the only one facing fiscal troubles. Nations around the world took on record debt during Covid, and many have struggled to bring spending back under control. Chrystia Freeland, who faced this problem herself as Canada’s Finance Minister, speaks with former Dutch Finance Minister Sigrid Kaag and former German Finance Minister Christian Lindner about why fiscal discipline is so politically difficult and what the rest of the world can learn before markets force the issue.
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Get a jump start on the US trading day with Isabelle Lee and Michael Mckee on “Bloomberg Open Interest.” Stocks fall and yields jump after a blowout jobs report. White House economic adviser Chris Phelan joins us on the labor market, inflation and rates. Plus, Anthropic moves closer to a mega IPO, OpenAI unveils its latest model, Morgan Stanley cracks down on research shared on X, and Aptera’s Co-CEO joins us on why he’s betting on China to build its solar EV.

Chapters:
00:00:00 – Open Interest
00:01:18 – Jobs Beat, Labor Market Strength, AI Construction Boom & Fed Implications
00:03:44 – Markets Reprice Fed Hikes, CPI Countdown & Warsh Era Volatility
00:06:58 – Trump, Midterms, Gas Prices & White House Messaging Challenges  
00:13:30 – High Interest | Norway Fund Cuts Treasuries, PIMCO Trims Mag 7 & Lululemon Cuts Guidance
00:14:34 – Lululemon’s Turnaround Crisis, Product Problems & CEO Challenge
00:19:30 – Greg Boutle BNP Paribas | Jobs Report, Fed Outlook, Equity Positioning & Election Risks
00:31:08 – Top Calls | Lululemon Downgrades, SiriusXM Upgrade & Zscaler Mixed Reviews
00:34:09 – GPT-6 Launch, AI Safety, OpenAI’s Future & AI Regulation
00:38:35 – Chris Phelan | White House Response to Jobs Report, Fed Policy & Inflation Debate
00:50:37 – Why a September Rate Hike Is Back on the Table
01:02:08 – Morgan Stanley’s X Crackdown, Research Copyright & Wall Street Pushback
01:04:33 – Amy Wu Silverman RBC Capital | Jobs Growth Fuels Fed-Hikes
01:08:18 – Steve Fambro Aptera Motors | Aptera’s Solar EV Launch, China Supply Chain & EV Economics
01:11:12 – Steve Fambro Aptera Motors | Aptera’s Solar EV Launch, China Supply Chain & EV Economics
01:16:11 – Volkswagen’s 50,000 Job Cuts, Germany’s Auto Crisis & EV Competition
01:22:39 – GPT-6, Cybersecurity, AI Safety & OpenAI’s Competitive Edge
01:24:27 – Anthropic IPO, OpenAI Rivalry & AI’s Wealth Creation Moment
01:29:19 – Trump’s Midterm Convention, Ken Paxton & Republican Election Strategy
——–
More on Bloomberg Television and Markets

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