Stocks traded close to record highs after a subdued US inflation report reinforced hopes that the Federal Reserve won’t need to raise interest rates next month.

Talks between the US and Iran appear deadlocked as both sides harden their positions. Washington is pressing on with a blockade of ports to raise the economic pressure on Tehran.

Anthropic is in talks to buy the artificial intelligence startup Decart AI for about $6 billion, according to people familiar with the matter. If completed, it would mark Anthropic’s largest known acquisition, ahead of a hotly anticipated initial public offering.

Today’s guests: Iain Stealey, JPMorgan Asset Management Fixed Income International CIO; Liz Martins, HSBC Senior UK Economist; Helena Hahn, European Policy Centre Policy Analyst

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“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.

Chapters:
00:00:00 – The Pulse with Francine Lacqua
00:00:41 – Iain Stealey, JPMorgan Asset Management Fixed Income International CIO
00:07:12 – Impasse over Hormuz drags on
00:10:03 – Iain Stealey, JPMorgan Asset Management Fixed Income International CIO
00:13:43 – Anthropic said in talks to buy startup decart for $6 billion
00:17:06 – Liz Martins, HSBC Senior UK Economist
00:23:24 – Thursday headlines
00:24:03 – Maersk raises guidance again on higher freight rates
00:25:49 – Rhine shipping stalls as water levels hit record lows
00:28:58 – Nvidia calms credit markets with AI capital consortium
00:36:53 – Spain & Italy step up border fight over migrant crisis
00:37:08 – Helena Hahn, European Policy Centre Policy Analyst
00:41:42 – White House Press Secretary Karoline Leavitt to leave role
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Joining Bloomberg This Weekend, Former Wisconsin Democratic Party Chair Ben Wikler tells hosts Joe Mathieu and Carol Massar that David Crowley’s narrow gubernatorial primary victory and unusually strong Democratic turnout show voters are focused on affordability and eager for political change ahead of November. Crowley now faces Republican Rep. Tom Tiffany in one of the country’s most closely watched governor’s races, while Democrats test whether elevated primary participation can translate into broader midterm gains. Wisconsin Democrats cast nearly 800,000 primary ballots, their highest midterm-primary total in more than two decades.
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Long-term debt costs are soaring as the bond market slumps. Bloomberg’s Chief US Interest Rate Strategist Ira Jersey and Corporate Finance Reporter Davide Barbuscia explain why this jump is happening and what it signals to the Fed. Then, Empower Chief Investment Strategist Marta Norton on this week’s global bond slump and how it’s changing investor positioning. Plus, China Beige Book COO Shehzad Qazi previews next month’s meeting between China’s Xi Jinping and President Trump, and the future of trade between the two countries. Finally, Root CEO Alex Timm discusses how his company uses AI to help determine behavior-based car insurance.

Chapters
00:00:00 Bloomberg Businessweek Daily
00:02:06 Market Update: Chipmakers Slide, Bond Yields Rise
00:04:40 Why Rates Are Rising Around the World
00:06:24 AI Debt Boom Competes With Treasuries
00:07:30 Corporate Bond Issuance & the AI Financing Wave
00:08:36 Fed Uncertainty Adds to Bond Market Pressure
00:09:54 Are the Bond Vigilantes Returning?
00:13:27 Retirement Investing in a Higher-Rate World
00:15:18 Gold, Bitcoin & Alternatives to Bonds
00:15:54 AI Risk & Portfolio Diversification
00:17:33 What Matters Most for Retirement Investors?
00:20:51 Trump-Xi Summit & China’s Economic Outlook
00:22:20 U.S.-China Managed Trade Explained
00:23:16 America’s Dependence on Chinese Supply Chains
00:24:39 China, South Korea & U.S. Military Strategy
00:29:30 How Investors Should Think About China
00:31:23 What Could Break the U.S.-China Truce?
00:32:38 Market Update: Meta, Housing & Oil
00:36:21 How Autonomous Vehicles Change Auto Insurance
00:38:14 Are Self-Driving Cars Actually Safer?
00:41:22 Root’s Biggest Growth Opportunities
00:44:56 Home Depot & the U.S. Consumer

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Romaine Bostick sat down with Derek Lewis, Former PepsiCo Beverages North America Multicultural Business and Equity Development President, from Bloomberg’s New Voices Initiative from Martha’s Vineyard.
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Former Dallas Fed President and Goldman Sachs Vice Chair Robert Kaplan says the Federal Reserve was right to hold rates in July. He also says Fed Chairman Kevin Warsh needs to give some more details about policy when he speaks in Jackson Hole. Kaplan speaks on “Bloomberg Surveillance.”
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