Bloomberg Daybreak: Asia Edition Daybreak Weekend: Jobs Preview, France Conference, China-Iran Relations
5 snips
Jun 27, 2025 
Jenny Marsh, Greater China EcoGov Team Leader at Bloomberg News, unpacks China's economic landscape and its recent diplomatic moves. Javier Blas, an expert on energy and commodities, dives into the global oil market and the influence of geopolitical tensions. They discuss the rising significance of Sino-Iranian relations amidst U.S. pressures. The impact of tariffs on trade dynamics is also analyzed, revealing how companies are adapting. Additionally, the urgency for rational dialogue in France's economic future is highlighted against a backdrop of political challenges.
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Tariffs Squeeze US Consumer Spending
- Increased tariffs are hurting consumer spending, especially on discretionary services like travel and dining.
- Consumers are prioritizing essentials due to income declines and rising prices from tariffs.
Slowing US Labor Market Signals Shift
- June's jobs report likely shows a slowdown with only 120,000 jobs added.
- Unemployment rate is expected to rise to 4.3%, signaling further labor market cooling.
Oil Market Faces Oversupply Risk
- Oil prices stabilized around $65-70 per barrel after Middle East tensions softened.
- Markets anticipate continued OPEC supply increases, leading to a glut by summer end.