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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 market trends reported in this episode?
President Trump has promised his staff that he will give top administration officials pardons before he leaves office. That's according to a report in The Wall Street Journal. The report goes on to say that Trump has been heard vowing mass pardons. To date, Trump has pardoned around 1,600 people just in this term. Several Asian countries, including India and the Philippines, are pushing the U.S.
Treasury Department to renew a sanctions waiver allowing them to purchase Russian crude. The current waiver is set to expire on April 11th. The waivers have prompted criticism from European allies who want to limit financial benefits to Russian President Vladimir Putin in a bid to end the war in Ukraine.
The consumer price index rose 0.9 percent from February, the most in nearly four years, in large part due to the sharp increase in gas prices tied to the conflict in the Middle East. Bond traders held on to wagers that the Fed will lower interest rates once this year on the data showing inflation quickened in March.
Interest rate swaps show traders pricing in a roughly one in four chance of a quarter point rate cut this year, slightly lower than before the data. Meanwhile, U.S. consumer sentiment fell to a record low due to increasing worries about mounting inflation caused by the Iran war.
Consumers expect prices to rise at an annual rate of 4.8% over the next year and see costs rising at an annual rate of 3.4% over the next 5 to 10 years. The preliminary April sentiment index slumped to 47.6 from 53.3 in March. That's according to the University of Michigan data out Friday. That was below all but one estimate in a Bloomberg survey of economists.
Joan Hsu, the director of Michigan's Consumer Surveys, says there are some positives, though, to look at.
There is a glimmer of hope here. Most of the deterioration in sentiment was concentrated in the short run with year ahead business conditions, year ahead personal finances, year ahead inflation expectations. And the outlook for the long run is not nearly as sour.
The University of Michigan's Joan Hsu speaking to Bloomberg. The current conditions gauge slid to a record low of 50.1 in April, while the Expectations Index declined to the weakest since 1980. Consumers' perceptions of their current financial situation matched the worst since 2009. Artemis 2 expected a splashdown in the Pacific Ocean at around 8.10 p.m.
ET after the four astronauts aboard NASA's lunar mission journeyed farther beyond their home planet than any humans before them. The reentry process will subject the Orion capsule to a firestorm reaching 5,000 degrees, the astronauts being kept cool in pressurized flight suits.
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Chapter 3: How is President Trump's stance affecting the situation in Iran?
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I'm Francine Lacroix, an award-winning journalist, and I've got a new podcast, Leaders with Francine Lacroix from Bloomberg Podcasts. I've interviewed everyone from heads of state to fashion icons about the news of the moment. But I've always been curious, who are these people as leaders? I don't think there's one right way to be a leader.
Make decisions. A poor decision is always better than no decision.
Listen to new episodes every other Monday. Follow Leaders with Francine Lacroix wherever you get your podcasts.
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