Chapter 1: What is the main topic discussed in this episode?
Today's show is brought to you by Vanguard. To all the financial advisors listening, let's talk bonds for a minute. Capturing value and fixed income is not easy. Bond markets are massive, murky, and let's be real, lots of firms throw a couple flashy funds your way and call it a day. But not Vanguard. At Vanguard, institutional quality isn't a tagline. It's a commitment to your clients.
We're talking top-grade products across the board of over 80 bond funds. actively managed by a 200-person global squad of sector specialists, analysts, and traders. These folks live and breathe fixed income. So if you're looking to give your clients consistent results year in and year out, go see the record for yourself at Vanguard.com slash audio. That's Vanguard.com slash audio.
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News when you want it with Bloomberg News Now. I'm Karen Moscow. U.S. job growth missed forecasts in December, suggesting a continued softening in the labor market at year end. We get more with Bloomberg's Michael McKee.
50,000 is the change in non-farm payrolls with Net revision to October and November of a negative 76,000. So over the three months, we're down by 26,000. Changing private payrolls, 37,000. Manufacturing payrolls, we're down 8,000. The private payrolls is only half of what was forecast.
And that's Bloomberg's Michael McKee. The unemployment rate edged down to 4.4%, settling back after the record-long government shutdown. Now, bond yields rose after that job growth missed analyst estimates. Ten-year Treasury yield at 4.18% right now. The two-year yield at 3.51%. Futures, they added to their gains. S&P futures up 0.3%. So are Dow futures. NASDAQ futures up 0.4% this morning.
Now to the latest on Venezuela, where President Trump says he's canceled a planned second wave of attacks on the country after Nicolas Maduro's ouster. He made the announcement in an early morning social media post, and Bloomberg's Kasia Klimaczynska has more from Washington.
President Trump posted on Truth Social praising Venezuela for releasing prisoners and saying that this second wave of attacks perhaps won't be needed now. But he emphasized that the U.S. Navy, U.S. ships, Coast Guard are still in the region and could be deployed.
And that's Bloomberg's Kasia Klimaczynska. President Trump is preparing to host a who's who of American oil executives at the White House this afternoon. This as he looks for their help in rebuilding Venezuela's oil industry. Meanwhile, the Wall Street Journal is reporting that the Coast Guard has boarded a fifth oil tanker in the Caribbean early today.
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Chapter 2: What were the latest U.S. job growth figures and their implications?
Wall Street is watching to see whether this is the day the Supreme Court decides on President Trump's emergency tariffs. The justices are scheduled to release their first opinions of the year later this morning, although it never says in advance which decisions are ready for release. We get more with Bloomberg News Global Trade Editor Brendan Murray.
The White House has a couple of options should they lose this case today. And again, like you said, we don't know. At 10 a.m. in Washington, they'll start reading some opinions, and one of those might be this tariff case. But the main option that most people think that the U.S. government could use is something known as the Section 122 tariff.
And that would basically let the president issue a blanket up to a 15 percent tariff on all trading partners. But that's pretty time limited. It's 150 days. And so that is really just a Band-Aid. But that should buy them time to come around with some other authorities that they could use.
And that's Bloomberg's Brandon Murray. Well, the House has voted to revive the Affordable Care Act subsidies that expired at the end of last year. Seventeen Republicans bucked party leaders and joined with Democrats on the three-year extension. The measure heads to the Senate, where lawmakers are working on a deal to bring back the subsidies with some changes.
In Minnesota, local and federal officials are clashing over the investigation into the ice killing of a woman in Minneapolis. Bloomberg Government's Maeve Sheehy has more from Washington.
We saw the federal government kind of taking control of this over the objections of some Minnesota officials. We heard Governor Tim Walz say that he's concerned that we might not get a full, fair investigation because of this. But federal officials are saying that this is not unusual, that this is just how
You know, things should go considering that it was federal officers who were involved in the shooting.
And that's Bloomberg government's Maeve Sheehy. Meantime, Governor Walz says he's ordered the National Guard to be staged and ready as protests continue in the Twin Cities. And this all comes as a new shooting by federal agents in Portland, Oregon, left two people wounded.
President Trump is directing Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds to bring down housing costs. The president announced the move in a social media post, saying it will drive mortgage rates down and make the cost of owning a home more affordable.
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Chapter 3: How did bond yields react to the job growth data?
To all the financial advisors listening, let's talk bonds for a minute. Capturing value and fixed income is not easy. Bond markets are massive, murky, and let's be real, lots of firms throw a couple flashy funds your way and call it a day. But not Vanguard. At Vanguard, institutional quality isn't a tagline. It's a commitment to your clients.
We're talking top-grade products across the board of over 80 bond funds. actively managed by a 200-person global squad of sector specialists, analysts, and traders. These folks live and breathe fixed income. So if you're looking to give your clients consistent results year in and year out, go see the record for yourself at Vanguard.com slash audio. That's Vanguard.com slash audio.
All investing is subject to risk. Vanguard Marketing Corporation Distributor.
Donald Trump is rewriting the Washington rulebook and reshaping the global economy. If you're trying to connect the dots behind the headlines, Bloomberg's Trumponomics podcast is here to help. I'm Stephanie Flanders, head of government and economics at Bloomberg. Every week I'll bring you a smart, focused conversation with reporters and experts from Washington, Wall Street and beyond.
Listen to new episodes every Wednesday and follow Trumponomics wherever you listen.
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