Oil prices jumped after the Houthis said they attacked two Saudi oil tankers in the Red Sea, prompting more vessels to avoid the region and raising fresh concerns over global energy supplies. Shipping disruptions are now spreading across both the Red Sea and the Strait of Hormuz, creating what analysts describe as a “two-chokepoint” risk for the global oil market. The US also carried out a twelfth round of strikes against Iran, while President Trump threatened to target Iran’s bridges and power plants if the conflict continues. Despite the escalation, Washington and Tehran signaled that new peace talks are not expected anytime soon.
We also cover the latest earnings from Emirates NBD and First Abu Dhabi Bank, both reporting slightly stronger-than-expected quarterly operating income. The US signed a civilian nuclear cooperation agreement with Saudi Arabia, while Alphabet raised its AI investment outlook, Tesla reported weaker-than-expected profits despite plans to increase capital spending, and US officials alleged that Moonshot AI accessed restricted Nvidia chips.
In Asia, South Korea’s KOSPI surged nearly 4%. We also examine Canada’s response to new 50% US tariffs, DU’s steady second-quarter financial results, rising inflation in South Africa strengthening expectations for higher interest rates, and why the European Central Bank is expected to hold rates steady in July before potentially tightening policy in September.
Guests includes Amol Shitole, Mashreq Capital Fixed Income Head; Anita Anand, Canadian Foreign Minister; and Kais Ben Hamida, DU CFO.

Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.

Chapters:
00:00:00 – Introduction
00:04:55 – Houthis Attack Two Saudi Tankers in the Red Sea
00:09:35 – Alphabet Hikes AI Spending Outlook
00:14:25 – Amol Shitole, Mashreq Capital Fixed Income Head
00:20:05 – Moonshot Accessed Banned NVIDIA Chips
00:27:05 – Oil Jumps After Houthis Attack Two Tankers in Red Sea
00:31:15 – Anita Anand, Canadian Foreign Minister
00:35:40 – Kais Ben Hamida, DU CFO
00:42:05 – ECB likely to keep rates unchanged in July
——–
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The US will collect duties of between 10% and 12.5% on imports from most major trading partners. The new levies follow an investigation into the alleged failure of around 60 economies to prevent forced labor in their supply chains to the detriment of American workers. The move aims to reconstruct President Donald Trump’s tariff wall that was pierced by the Supreme Court. Bloomberg’s Rosalind Mathieson reports.
——–
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“Bloomberg Real Yield” highlights the market-moving news you need to know. Today’s guests: Apollo Chief Economist Torsten Slok, Pimco Multi-Asset Credit Strategist Lotfi Karoui, and Vanguard Global Head: Credit Research Colleen Cunniffe.

Chapters:
00:00:00 – Bloomberg Real Yield opens
00:03:09 – Macro Conversation with Apollo’s Torsten Sløk
00:12:45 – Georgia Hall on UK Gilts & Andy Burnham’s Fiscal Plans
00:15:11 – Torsten Sløk on Global Bond Markets & Growth
00:17:12 – Blackstone Expands Private Markets
00:17:56 – Loukia Gyftopoulou on Private Credit & Investor Redemptions
00:19:27 – Torsten Sløk on Private Credit Risks & AI
00:22:31 – Weekly Credit Issuance & AI Debt Boom
00:24:28 – Credit Roundtable: Lotfi Karoui (PIMCO) & Colleen Cunniffee
00:34:12 – Emily Graffeo on NFL’s $600M Private Bond Deal
00:35:44 – Eric Hudson on Palm Beach’s AI Data Center Rejection
00:38:11 – Final Thoughts with Michael McKee: Fed Decision Preview
——–
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, 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, shares in Google’s parent company Alphabet slid after it said capex spending will likely top an unprecedented $200 billion this year. That stoked concerns that it will ditch fiscal discipline in the race to dominate artificial intelligence.

BNP Paribas reported better-than-expected revenue and profit for the second quarter as its stock traders blew past analysts’ estimates. Equities revenue rose 43% from a year earlier to €1.4 billion.

UniCredit says it will likely assume control over Commerzbank soon, as CEO Andrea Orcel moves to complete one of Europe’s largest bank deals ever. It says regulatory approvals for the outcome of the takeover bid could come as early as the fourth quarter.

And Houthi militants in Yemen say they targeted two oil tankers in the Red Sea, opening another front in the Iran war.

Today’s guest: Josie Anderson, Nomura, European Economist.

Chapters:
00:00:00 – Daybreak: Introduction
00:04:14 – Europe & US tech earnings
00:10:38 – Chipmakers drive gains in Asian stocks
00:13:02 – Houthis target Red Sea oil tankers
00:16:52 – Traders still guessing Fed’s next move
00:19:41 – Paramount Warner deal gets conditional EU nod
00:26:34 – ECB expected to stay on hold
00:30:31 – Josie Anderson, Nomura, European Economist
00:36:55 – BNP’s stock traders soar past estimates
——–
More on Bloomberg Television and Markets

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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day.

Chapters:
00:00:00 – Bloomberg Surveillance Begins
00:04:31 – BlackRock’s Russ Koesterich on Tech Stocks
00:17:50 – Eurasia Group Managing Director of US Jon Lieber on US-Iran Conflict
00:32:39 – D.A. Davidson Head of Technology Research Gil Luria on Alphabet Capex
00:41:50 – Citi Research US Economist Veronica Clark on Markets’ Reaction to Iran Conflict
00:52:44 – Jim Caron of Morgan Stanley Investment Management on Tech Spending Plans
01:05:22 – Rep. French Hill (R-AR) on Iran Conflict Budget
01:20:43 – Baird Senior Research Analyst Ben Kallo on Tesla Profit Decline
01:28:48 – Daragh Maher of HSBC on Global Central Banks’ Inflation Risks
01:40:17 – Wells Fargo Chief Equity Strategist Ohsung Kwon on Alphabet Ramping Up AI Spending
01:55:54 – Pooja Kumar of TD Securities on ECB Interest Rate Decision
02:04:52 – FHN Financial Senior Economist Sophia Kearney-Lederman on the Economy
02:16:56 – ECB President Lagarde Speaks After Rate Decision
——–
Watch it live every week day from 6-9 ET on Bloomberg Television, YouTube, Roku, Apple TV, Samsung TV, Android TV, Rakuten TV.

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