Trump and Xi Buy Time on Trade, Global Bond Selloff, More
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What did President Trump and Xi Jinping discuss during their first state visit in a decade?
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News when you want it with Bloomberg News Now. I'm Karen Moscow. Chinese President Xi Jinping is waking up in Washington this morning for his first state visit in more than a decade. The Chinese leader was greeted at the tarmac by President Trump and the First Lady yesterday, an honor that no other world leader besides the Pope has received in at least six decades. As he arrived, Treasury Secretary Scott Bessent announced a two-month Extension of the trade truce with China, Besson told Fox News he does not know whether a bigger deal can be done.
We also want to see uh now that we've sat down and told them our expectations to see if over the coming months they can be a bit more fulsome in uh enacting the agreement.
How did Treasury Secretary Scott Bessent explain the two‑month extension of the U.S.–China trade truce?
And again that's Secretary Bessant on Fox News. We get more from Bloomberg Asia correspondent Steven Engel in Washington.
Now that Xi Jinping has arrived here in Washington, the focus turns to the summit where the two sides can sit across from each other. Xi and Trump can really talk things through. They both want strategic stability. Getting there is going to take a little bit more time. They're also going to have a big gala dinner in the White House behind me, attended likely by many U.S. corporate titans. including those from technology, but by all accounts, none, or very few, from the C suite of China. Stephen Engel, Bloomberg News, Washington.
All right, Stephen, thank you. The UN General Assembly continues in New York Iran's President Massoud Bazeshki and used his speech before the global body to deliver a defiant message to the US.
In the Strait of Hormose, we do not we cannot let some have free access and gain their interest from a waterway while at the same time using that waterway.
Why is Iran’s new UN General Assembly speech raising tensions with the United States?
To impose their aggressions upon us, to impose insecurity upon us.
Speaking through an interpreter, Iranian president Massoud Pazeshkian said his country is ready to resume talks with the US, but will not respond to threats. Secretary of State Marco Rubio said Iran has no business lecturing the US.
Virtually every country in the region is facing the threat of some Iranian proxy that has for years, not for the last few months, for years threatened the safety and security of these countries. And on that there's very strong consensus that Iran is a maligned force in the region.
And Secretary of State Marco Rubio's comments come after the US and Iran held their first indirect talks in months on the UN sidelines. This morning an advisor to Iran's Supreme Leader tells the semi official FARS news agency that the war could expand to the Indian Ocean if the US or Israel resume attacks. A federal judge has ordered the Trump administration to temporarily lift a ban on journalists from CNN, MS Now, and Politico from the White House. The ruling is an early victory for the news outlets in their lawsuit, which accuses President Trump and senior officials of a direct assault on their First Amendment rights. The temporary restraining order was issued by U.S. District Judge Timothy J. Kelly, a Trump appointee, and will stay in place for two weeks.
Bond yields are surging this morning and are at levels we haven't seen since two thousand four.
What impact is the federal judge’s temporary lift of the White House press ban having on media access?
Bloomberg's John Tucker has more.
And good morning, Karen. There's a confluence of events that add up to bad news for bonds. The latest data suggests the U.S. economy is running too hot. Higher energy prices putting upward pressure in inflation and a crunch of funding demand for data centers competing with treasuries. And a six percent annual deficit. But are these concerns overdone? Well this morning we did put that question to Carl Tennenbaum at Northern Trust.
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Chapters
7 chapters
1
What did President Trump and Xi Jinping discuss during their first state visit in a decade?
0:00–1:15
2
How did Treasury Secretary Scott Bessent explain the two‑month extension of the U.S.–China trade truce?
1:15–2:21
3
Why is Iran’s new UN General Assembly speech raising tensions with the United States?
2:21–3:41
4
What impact is the federal judge’s temporary lift of the White House press ban having on media access?
3:41–4:34
5
Why are bond yields spiking to levels not seen since 2004 and what does it mean for investors?
4:34–5:44
6
How are AI leaders at the UN Security Council urging governments to shape the technology’s future?
5:44–7:00
7
What are the latest market moves in oil, futures and Treasury yields as the global bond sell‑off continues?
7:00–7:53
Speakers
10 identifiedMore from Bloomberg News Now
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