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Trump Threatens Brazil with 50% Tariff; US Futures Slip | Bloomberg Brief 7/10/2025

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US equity futures drop as President Trump unveiled a 50% tariff on Brazil, one of the highest so far announced that are set to hit in August. TSMC sales show that AI spending is showing no signs of slowing down. Wei Li of BlackRock says tech is expected to do heavy lifting in the market. Frank Monkam of Buffalo Bayou says the Fed has shifted from being just data dependent. Infineon Chairman Herbert Diess spoke to Tom Mackenzie and says tariffs are set to impact finished goods in chips.

Chapters:
00:00:00 – Intro
00:01:44 – First Look Movers
00:03:51 – Wei Li, BlackRock Global Chief Investment Strategist
00:12:32 – Trending on the Terminal
00:19:27 – Front Page News
00:22:51 – First Look Movers
00:24:02 – Frank Monkam, Buffalo Bayou Holdings Head of Macro Trading
00:30:03 – Herbert Diess, Infineon Technologies Chairman of the Supervisory Board
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The Uniquely American Experience of Redrawing Political Maps #election

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A gamble on re-districting ahead of the US midterm elections may not pay off for Republicans, who redrew more than a dozen congressional districts across the country hoping to pick up more seats in Congress. Bloomberg’s Josh Wingrove joins David Gura on the Big Take podcast to explain.
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Democratic Wave in House Looks Likely, Cook’s Covey Says

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Erin Covey of the Cook Political Report breaks down the shifting midterm elections battleground map, projecting a potential Democratic pickup of 12 to 25 seats to retake the House majority. Speaking on Bloomberg Television, Covey explains how President Donald Trump’s “underwater” approval ratings in deep-red territory are dragging down Republican incumbents.
——–
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Wall Street Sees an Ominous Sign in Bond Market’s Latest Selloff

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It’s one of the least understood signals in the fixed-income world, but lately, everyone on Wall Street is abuzz about what it means as it reasserts itself in the market. Bloomberg’s Ye Xie explains.
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Midterm Fight Comes Down to the Final Days

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Bloomberg Balance of Power co-host Joe Mathieu joins Bloomberg This Weekend to break down the final days of campaigning before the midterms, including President Donald Trump’s late push and the House and Senate races that could determine control of Congress.
——–
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India Signals More Rate Hikes Ahead

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Higher borrowing costs may be here to stay in India. With inflation pressures building from a weak monsoon, oil at $100 a barrel and a softer rupee, the RBI has begun tightening policy. Ruchi Bhatia explains why more rate hikes could follow.
——–
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