Bloomberg Daybreak: US Edition US Debt Concern After Tax Bill's Passage; President Trump's Harvard Fight
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May 23, 2025 The discussion highlights President Trump's tax cut bill and its potential impact on U.S. debt and bond markets. Tensions rise as the White House blocks Harvard from enrolling international students, seen as a direct attack on university revenue. A survey reveals that U.S. businesses fear significant revenue losses due to shifting tariff policies, creating concerns about the economic landscape. Meanwhile, the interplay of these policies is closely monitored amid trade tensions and market reactions.
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Bond Market's Warning on Deficit
- The bond market shows impatience with rising US deficits caused by the tax cut bill.
- Increasing Treasury yields could raise borrowing costs and worsen fiscal challenges.
Israeli Embassy Staff Killing
- The suspect in the killing of two Israeli embassy staffers confessed to acting for Palestine.
- The case is being treated as a hate crime and potential act of terrorism.
Treasury Yields Hit 2007 Levels
- The bond market reacted sharply to the budget bill, signaling no hope for short-term deficit reduction.
- 30-year Treasury yields reached levels not seen since 2007, reflecting investor concern.