The markets are “terribly wrong” to price in an interest rate hike by the Federal Reserve, says National Economic Council Director Kevin Hassett. He speaks on “Bloomberg Open Interest.” US job growth topped all estimates in May.
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Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom. Today’s guests: Charles Schwab Chief Investment Strategist Liz Ann Sonders and JPMorgan Asset Management Chief Market Strategist for Americas Gabriela Santos.

Chapters:
00:00:00 – Bloomberg Money opens
00:03:06 – US Job Growth Tops All Forecast In May
00:04:42 – Inflation Resurgence Squeezes US Voters
00:06:58 – Inflation Impact On US Midterms
00:07:39 – SpaceX IPO Expected Next Friday
00:09:04 – SpaceX Staff Push For Lower Fees Ahead of IPO
00:11:12 – Liz Ann Sonders on Rise of Casino Culture In Markets
00:14:48 – Sonders: I’m Interested In What Prediction Markets Are Saying
00:16:25 – Sonders: Odds Are Against You
00:19:19 – Investing Strategies For Your Money
00:21:25 – US Stocks Hit Session Lows
00:22:57 – AI Upending One of Finance’s Cushiest Jobs
00:25:43 – Gabriela Santos, JPMorgan Asset Management Chief Market Strategist for Americas
00:27:01 – Santos: It’s Not About Planning To Get To Retirement, It’s Plan To Get To And Through Retirement
00:28:33 – Santos: Cash Isn’t Always King
00:30:16 – Santos on The Cost of College
00:31:35 – Santos on Valuations and Expectations
00:35:20 – Money Book Recommendations
00:37:02 – BlackRock’s Rosenberg Talks Books
00:39:39 – Upcoming Events Impacting Your Money
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SpaceX is seeking to raise $75 billion in an IPO that would be the biggest of all time, as Elon Musk’s rocket, space and artificial intelligence company targets a historic debut that could clear a path for more mega-listings. Ed Ludlow reports on “Bloomberg The Close.”
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Bloomberg Surveillance: Early Edition, live from London and New York. Francine Lacqua, Anna Edwards, and Matt Miller deliver the latest news and analysis on the markets with leaders in global finance and economics. Special coverage of UBS’s takeover of Credit Suisse with Vontobel Head of Banks Andreas Venditti, AssetCo Chairman Martin Gilbert, and Former UBS Chief Economist Klaus Wellershoff.

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On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the latest from the Trump Administration. On today’s show, Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino, former Chief of Staff to Vice President Mike Pence Marc Short, Arbroath Group Managing Partner Christopher Smart and Navigator Research Managing Director Melissa Toufanian.

Chapters:
00:00:00 – Balance of Power: Early Edition 
00:00:15 – Traders Fully Price in Fed Rate Hike This Year
00:01:32 – NASDAQ 100 Sinks 3% as Fed-Hike Wagers Lift Yields
00:03:48 – US Hiring Surged in May, Boosting Bets on Fed Rate Hike
00:04:53 – Trump Heads to Wisconsin Ahead of Midterms
00:06:29 – Trump Urges Bill Pulte to Fire Intelligence Community Employees: WSJ
00:08:11 – Stocks, Bonds Fall as Jobs Fuel Fed-Hike Bets
00:09:30 – Senate Fails to Advice Spy Powers Tool Before Leaving DC
00:13:08 – Senate Passes $70b Immigration Bill
00:14:19 – Senate Passes GOP Reconciliation Bill
00:17:16 – House Passes Ukraine Aid, Russia Sanctions
00:19:15 – NASDAQ 100 Sinks 3% as Fed-Hike Wagers Lift Yields
00:21:37 – Stocks, Bonds Fall as Jobs Fuel Fed-Hike Bets
00:24:13 – Director of the National Economic Council Kevin Hassett on Jobs Report
00:25:04 – Arbroath Group Managing Partner and Founder Christopher Smart on Bloomberg
00:25:11 – US Hiring Surged in May, Boosting Bets on Fed Rate Hike
00:34:38 – Chicago Bears to Depart Illinois for Indiana After 100 Years
00:35:09 – Wall Street Sees SpaceX’s AI Revenue
00:39:56 – US-Iran Talks Stall After Hezbollah Rejects Truce
00:45:23 – Zelenskyy Proposes Peace Talks to Putin
——–
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