Austin became the fastest-growing large metropolitan area in the country during the pandemic, as remote work, corporate relocations and rapid in-migration helped push rents up roughly 25% in 2021. Austin’s long-running supply strategy – expanded under Mayor Kirk Watson through faster permitting, looser zoning and smaller minimum lot sizes – helped add nearly 50,000 rental units across the metro in 2023 and 2024, contributing to a 19% inflation-adjusted decline in city rents from the 2021 average to 2025, even as oversupply began pressuring developers and slowing new construction.
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“Pretty much 100% of people at BNY now know how to use AI and are doing it in their daily work,” says BNY CFO Dermot McDonohoe.

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US equity futures rise on a chipmaker rebound. US-Iran strikes continue for a tenth consecutive day as mediators sought to revive a truce. Marvin Loh of State Street discusses the choppiness of the current environment. Bloomberg’s Guy Johnson speaks to Orlando Sanchez of Lockheed Martin at the Farnborough International Air Show on global defense spending.

Chapters:
00:00:00 – Bloomberg Brief Begins; Opening Headlines
00:00:48 – Asian Stocks Rise After Three Days of Decline
00:06:34 – TSMC to Raise Chipmaking Prices by Up to 10%: Nikkei
00:09:12 – Houthis Threaten Shipping in Red Sea
00:11:42 – US Vows Fresh 50% Tariff on Some Canadian Goods
00:16:05 – Burnham Pledges ‘Circuit Breaker Moment for UK’
00:19:59 – Front Page News
00:24:38 – State Street Global Macro Senior Strategist Marvin Loh on Chip Stocks and the Fed
00:33:34 – Lockheed Martin Aeronautics President Orlando Sanchez Jr. on Supporting the UK Government and F-35 Demand
00:42:14 – What to Watch For
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At the 2026 World Artificial Intelligence Conference China’s Moonshot AI unveiled its Kimi K3 model, intensifying concerns that Chinese developers are rapidly narrowing the AI gap with US rivals while offering lower cost. Bloomberg News China Correspondent Minmin Low and Bloomberg News Technology and Strategic Industries Senior Editor Mike Shepard join Bloomberg This Weekend and discuss how more open models are forcing investors to reassess massive spending on AI infrastructure.
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Grad PLUS loans were created in 2006, allowing graduate students to borrow up to the full cost of attendance. Total borrowing rose from about $2 billion in the program’s first year to over $15 billion in 2024–25, but beginning July 1, 2026, new borrowers will face annual loan caps, leaving a funding gap for students and universities alike. Supporters say the limits will curb overborrowing and tuition growth; critics warn they could push students toward private loans and reduce access to lower-paying fields.
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