Bloomberg Daybreak: Europe Edition US Immigration Backlash, Gold Surges Past $5,000, Europe’s Defense Challenge
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Jan 26, 2026 Suzanne Lynch, Brussels bureau chief covering European defense and NATO, and Tiwa Adebayo, reporter on US politics and immigration. They discuss the Minnesota shooting's political fallout and how it reverberates in Washington. They cover gold's dramatic rally past $5,000 and currency market moves. They debate Europe’s defense quandary, NATO talks, and efforts to build autonomy from US reliance.
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Immigration Shooting Risks Government Shutdown
- The killing of Alex Presby has escalated federal-state tensions and threatened a partial US government shutdown.
- Senate Democrats demand DHS funding be separated pending investigations into ICE conduct.
Gold Breaks $5,000 on Geopolitical Risk
- Gold topped $5,000 an ounce as investors fled bonds and currencies amid geopolitical uncertainty.
- Trump-era interventions and threats, including tariffs and Greenland talk, intensified the safe‑haven rally.
Yen's Surge Triggers Intervention Fears
- The yen strengthened sharply and markets watched for possible Japanese FX intervention.
- Officials signalled concern about 'speculative and highly abnormal movements' in the currency.