Bloomberg Daybreak: Europe Edition France Averts Shutdown, US Sanctions EU Tech Lawmaker, Brevan Howard's Exit
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Dec 24, 2025 Mark Cranfield, a Bloomberg Markets Live strategist, shares insights on the global financial landscape. He discusses France's recent passage of a stopgap budget to avert shutdown, emphasizing its impacts on fiscal stability. Cranfield analyzes the U.S. visa sanctions on EU tech lawmaker Thierry Breton, highlighting tensions over tech regulation. He also delves into the record-breaking rally of precious metals, driven by geopolitical instability and expectations of interest rate cuts, painting a vivid picture of current market dynamics.
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France Uses Stopgap Law To Avoid Shutdown
- France passed a stopgap 2026 budget law to keep public services running while full budget talks continue.
- Prime Minister Sébastien Lecornu warned the loi spéciale isn't a budget and prolonged deadlock carries negative consequences.
US Sanctions Spark Free-Speech Clash With EU
- The US imposed visa sanctions on Thierry Breton and four others over tech moderation policies, framing it as a free-speech clash.
- Targets and critics framed the move as censorship or a return to McCarthyism, escalating US-EU tensions on platform regulation.
Perfect Storm Driving Precious Metals Rally
- Gold surged past record levels with silver and platinum also hitting highs amid geopolitical tensions and Fed rate-cut bets.
- Traders expect lower US rates and a weaker dollar to keep supporting non-yielding precious metals into next year.