Business
Dalio Warns of AI Bubble, Hormuz Attacks Lift Oil
Billionaire Ray Dalio warned that artificial intelligence is a “classic bubble” that is nearing a bursting point thanks to rising interest rates and the need to turn wealth into cash.
A rally in stocks came to a halt and global bonds fell as mounting attacks on tankers in the Middle East pushed oil prices higher. Futures for the S&P 500 stood pat after the index hit a record high in the previous session. Europe’s Stoxx 600 fell 0.6%, ending a three-day run of gains. SK Hynix fell nearly 3% in South Korea ahead of the expiry of a lockup on its American depositary receipts.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade Begins: SpaceX, Oil and Bonds
00:01:35 – Tech Rally, Market Breadth and SpaceX’s $40 Billion Financing
00:04:45 – Strait of Hormuz Attacks Drive Oil and Shipping Costs Higher
00:06:43 – French Bond Selloff and ECB Intervention Risks
00:10:30 – SpaceX Seeks $40 Billion for Nvidia Chips
00:13:47 – Plurimi Wealth Chief Investment Officer Patrick Armstrong on Semiconductors and AI Spending, France, Europe and the US Debt Outlook
00:21:40 – Need to Know: Russia, Israel and HSBC Job Cuts
00:24:41 – European Bonds, French Protests and Fiscal Pressure
00:26:39 – Marine Le Pen’s Budget Plans Under Scrutiny
00:28:08 – UBS IB European Rates Strategy Head Reinout De Bock on French Debt, Italy and European Rates, Europe’s Energy Risks and ECB Policy
00:38:27 – Markets in 3 Minutes: Higher Yields and AI-Led Market Growth
00:42:03 – Stock to Watch: ABN Amro, HSBC and Orange
00:48:03 – European Trading Opens in the Red
00:50:42 – Bank of America US Equity & Quantitative Strategy Head Savita Subramanian on S&P 500 Breadth and Valuations, Why Bonds Are Becoming More Attractive
00:58:58 – European Stock Movers: Bridgepoint, Pennon and Porsche
01:01:14 – HSBC Job Cuts and AI’s Impact on Wealth Management
01:04:14 – Jamie Dimon on AI Investment and Rising Rates, AI Risks and Data Center Expansion
01:11:11 – European Stocks Fall as Bond Yields Rise
01:12:50 – Hormuz Attacks, HSBC Cuts and SpaceX Financing
01:14:00 – Hamilton Lane Co-CEO Erik Hirsch on AI Borrowing and Private Credit Risks, Private Credit, Defaults and Consumer Resilience
01:23:27 – Apollo on Financing the Data Center Buildout
01:25:32 – Iran Steps Up Attacks in the Strait of Hormuz
01:27:14 – Saudi Arabia, Yemen and U.S. Military Support
01:30:13 – French Bond Yields and the ECB Intervention Threshold, FOMC Minutes and the US Yield Curve
01:34:39 – What’s Ahead
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Bloomberg Surveillance: Early Edition, live from London, Berlin and New York. Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. G Plus Economics Chief Economist Lena Komileva and National Securities Chief Market Strategist Art Hogan weigh concerns over the spread of the omicron virus variant against tightening monetary policy.
Leslie Vinjamuri, Head of the U.S and the Americas programme at Chatham House, discusses
Joe Manchin’s rejection Joe Biden’s $2 trillion tax-and-spending package.
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Chile’s glaciers, fjords and frigid southern seas are drawing a new generation of ice swimmers—and challenging the sport’s Nordic center of gravity. Bloomberg’s Antonia Mufarech has more.
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US Senator Chris Coons, a Delaware Democrat, explains why he thinks the US should reexamine its relationship with Israel. Speaking on “Balance of Power: Evening Edition,” Senator Coons also weighs in on the Iran conflict.
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Bloomberg Surveillance: Early Edition, live from London, Berlin and New York. Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. Howard Davies, Natwest Group Chairman, says inflation pressures are growing in the U.K. Nina Skero, Centre for Economics & Business Research CEO, says the Fed’s more hawkish tone complicates the picture ahead of jobs day. Leslie Vinjamuri, Chatham House Director of U.S. and the Americas Program, reflects on the attack on the U.S. Capitol one year on.
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South Korea is orchestrating investments of at least $880 billion from companies including Samsung Electronics and SK Hynix into infrastructure it called essential to surviving the AI era. Bloomberg’s Sangmi Cha reports.
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