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Chapter 1: What is the main topic discussed in this episode?
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
It's smart, calm and to the point.
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Chapter 2: What are the latest developments regarding the Hormuz blockade?
$4 billion as revenue is what comes in for FIC trading. The estimate was closer to $5 billion, so they're off by about $0.8 billion, which is a disappointment for this market because many had expected equities trading revenue to be strong. Elsewhere, M&A results, advisory fees 89% higher than this time last year.
We knew it was a record quarter for M&A for the entirety of this market, so Goldman Sachs earnings reflecting that too.
And that's Bloomberg's Danny Berger. Another major political story that we're following comes out of Hungary. After 16 years in power, Viktor Orban's rule is coming to an end. Peter Magyar's opposition Tiza party is on track to win with almost all votes counted. Bloomberg chief Europe correspondent Oliver Crook has more from Budapest.
So really a very significant change here, obviously has huge ramifications for the European Union. Viktor Orban very frequently the only thorn in the side of European Council decisions, basically blocking things, including that loan to Ukraine. And we should say that really this feels a little bit like a different election campaign than many of the ones that I've covered across Europe.
It was really very intensely emotional on the banks of the Danube last night. You could really feel the shift in the political atmosphere after 16 years of that rule by Viktor Orban.
And Bloomberg Chief Europe correspondent Oliver Crook reporting from Budapest. Stocks in Hungary were up 2.5% on the election results. Back here in the U.S., Democratic Representative Eric Swalwell is suspending his campaign for governor of California. The decision comes after a series of sexual assault allegations threw his campaign into turmoil. and prompted backers to flee.
In sports, Rory McIlroy has won back-to-back Masters championships. He joins Tiger Woods, Nick Faldo, and Jack Nicklaus as the only repeat winners of the Green Jacket. And oil is surging back above $100 a barrel while stocks are falling, bonds edging lower after President Trump ordered a blockade of the Strait of Hormuz following the weekend's deadlock in U.S.-Iran peace talks.
S&P futures down 0.6%, Dow futures down 0.8%, Nasdaq futures down 0.6%, 10-year Treasury yield 4.33%. And that's news when you want it with Bloomberg News Now. I'm Karen Moscow and this is Bloomberg.
The news doesn't stop on the weekends.
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