Australia Breaking News

Nobel laureate Paul Krugman, a City University of New York professor, reacts to a federal judge's ruling that blocks a federal investigation of Fed Chair Powell. Krugman says President Trump and US Attorney for the District of Columbia Jeanine Pirro are "harassing" Powell. Krugman says the independence of the Fed is on the line.

The US said it had stepped up strikes on Iran to unprecedented levels as both sides in the war threatened to escalate a conflict hitting its two-week mark. The US-Israeli alliance has hit around 15,000 targets since the war began, and the Pentagon has sent a Marine expeditionary unit to the Middle East. Iran's Supreme Leader Mojtaba Khamenei said the Islamic Republic would seek to ensure the Strait of Hormuz remains effectively closed, and warned Tehran would look to open other fronts in the war if the US and Israeli attacks continue. Cliff Young, Ipsos US Public Affairs Chair, Professor at Texas A&M University's Bush School of Government and Public Service join to discuss the voters point of view on the conflict.

A federal judge rejected subpoenas of the Federal Reserve board, according to a court document. Mike McKee reports on "Bloomberg The Close."

Bloomberg's Michael Shepard discusses the implications of the ongoing lawsuit involving Anthropic and how the company is addressing concerns related to its supply chain and strategic positioning in the technology sector.

Brian Carbaugh spent years living and traveling abroad in a variety of alias personas as a CIA officer. Now he's fronting investor meetings and raising capital as CEO of Andesite, a Virginia-based data analytics startup, one of several recently retired spies taking their field experience from the CIA to the C-suite. Former CIA officer Brian Carbaugh, co-founder of the data analytics startup Andesite joined to discuss on Balance of Power.

Nir Kaissar, Bloomberg Opinion columnist and founder of Unison Advisors, joins Emily Graffeo and Matt Miller on "Bloomberg Real Yield." They discuss the safe haven status of Treasuries.

Traders are now fully pricing in the next quarter-point rate reduction in mid-2027, and a growing chorus of Wall Street economists have also pushed their calls for the next cut further out the calendar. Priya Misra, portfolio manager JPMorgan asset management Core Plus Bond ETF, speaks with Emily Graffeo and Matt Miller on "Bloomberg Real Yield."

Traders are now fully pricing in the next quarter-point rate reduction in mid-2027, and a growing chorus of Wall Street economists have also pushed their calls for the next cut further out the calendar. Nisha Patel, SMA fixed income portfolio manager at Parametric, joins Emily Graffeo and Matt Miller on "Bloomberg Real Yield."

The $1.8 trillion private credit market is witnessing an exodus of investors after some high-profile corporate blowups led to mounting concerns over loan quality and exposure to software firms. Lotfi Karoui, multi-asset credit strategist at Pimco, joins Emily Graffeo and Matt Miller on "Bloomberg Real Yield." They discuss private credit concerns and potential opportunities for credit investors.

Luxury electric vehicle maker Lucid has laid out a path to becoming cash flow positive and it has introduced a robotaxi partnership with Uber. Lucid's CFO Taoufiq Boussaid joins Ed Ludlow on "Bloomberg Tech."

South Korea will use extra tax revenue to fund a supplementary budget to cushion households and businesses from surging oil prices triggered by the Iran war, according to the nation's finance minister. "The government's top priority right now is responding to the Middle East situation in the short term, while reducing Korea's structural dependence on oil over the medium to long term," Koo Yun Cheol told Bloomberg's Shery Ahn in Tokyo.

The oil market has been roiled by the Iran war, with prices swinging wildly. For regions most dependent on Gulf exports, the strain is already apparent, with wider, global implications on the horizon.