In this Christmas Day special edition of Bloomberg Daybreak with Nathan Hager: 
Tom Porcelli, Chief US Economist at PGIM Fixed Income, discusses what the Fed will do in 2025.
Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets and Cameron Dawson, the Chief Investment Officer at NewEdge Wealth, break down what we can expect in equities 
Burt Flickinger, the Managing Director at Strategic Resource Group, brings us the winners and losers of the 2024 holiday retail season. 

In this Christmas Day special edition of Bloomberg Daybreak with Nathan Hager:&nbsp;
<ul>
<li>Tom Porcelli, Chief US Economist at PGIM Fixed Income, discusses what the Fed will do in 2025.</li>
<li>Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets and Cameron Dawson, the Chief Investment Officer at NewEdge Wealth, break down what we can expect in equities&nbsp;</li>
<li>Burt Flickinger, the Managing Director at Strategic Resource Group, brings us the winners and losers of the 2024 holiday retail season.&nbsp;</li>
</ul>

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.

Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.

Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg’s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.

Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe is the essential way to start your morning informed and ahead.

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.
Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.
Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg&rsquo;s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.
Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe&nbsp;is the essential way to start your morning informed and ahead.

Bloomberg Daybreak: Europe Edition

Daybreak Holiday: Inflation Pressure, Markets, Retail 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/9ed9447b-f995-4486-a9b2-b25000b531ea/transcript

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) One inflation spike in the 2020s might be an accident, the world’s biggest bond markets seem to have decided, but two looks like an alarming new trend.

(2) The euro area will slow markedly while suffering the fastest inflation since 2023 as it succumbs to the energy-cost surge from the Iran war, according to the European Commission.

(3) Confidence among the lowest-earning Britons plunged in May and even those on average pay are digging into savings to meet everyday expenses as the Iran energy shock hits household budgets, a key survey found.

(4) Iran said the latest proposal from the US partly bridged the gap between the warring sides, but comments from the Islamic Republic’s supreme leader about keeping Tehran’s uranium stockpile and a dispute over tolls in the Strait of Hormuz clouded the outlook for a breakthrough.

(5) President Donald Trump said he would send an additional 5,000 troops to Poland, reversing course on a plan to suspend an Army deployment to the country amid a feud with other NATO nations over what he saw as their refusal to help in the Iran war.

(6) Jennifer Zabasajja joins the show to discuss how the Ebola outbreak in Africa compares with previous ones, the impact of aid cuts and how serious the crisis could get. You can hear more of Jennifer's reporting on the topic on this week's Next Africa Podcast

Podcast Conversation: Come for the Biking, Stay for the Otters

Your morning briefing. All the news you need to start your day. On today's podcast: (1) One inflation spike in the 2020s might be an accident, the world&rsquo;s biggest bond markets seem to have decided, but two looks like an alarming new trend. (2) The euro area will slow markedly while suffering the fastest inflation since 2023 as it succumbs to the energy-cost surge from the Iran war, according to the European Commission. (3) Confidence among the lowest-earning Britons plunged in May and even those on average pay are digging into savings to meet everyday expenses as the Iran energy shock hits household budgets, a key survey found. (4) Iran said the latest proposal from the US partly bridged the gap between the warring sides, but comments from the Islamic Republic&rsquo;s supreme leader about keeping Tehran&rsquo;s uranium stockpile and a dispute over tolls in the Strait of Hormuz clouded the outlook for a breakthrough. (5) President Donald Trump said he would send an additional 5,000 troops to Poland, reversing course on a plan to suspend an Army deployment to the country amid a feud with other NATO nations over what he saw as their refusal to help in the Iran war. (6) Jennifer Zabasajja joins the show to discuss how the Ebola outbreak in Africa compares with previous ones, the impact of aid cuts and how serious the crisis could get. You can hear more of Jennifer's reporting on the topic on this week's<a href="https://podcasts.apple.com/gb/podcast/are-aid-cuts-making-ebola-outbreak-worse/id1441452921?i=1000768993762"> Next Africa Podcast</a> Podcast Conversation: <a href="https://www.bloomberg.com/news/articles/2026-05-21/how-cardiff-bike-lanes-are-doing-more-with-less?srnd=homepage-uk" data-destination="https://www.bloomberg.com/news/articles/2026-05-21/how-cardiff-bike-lanes-are-doing-more-with-less?srnd=homepage-uk">Come for the Biking, Stay for the Otters</a>

A $50 Trillion Problem, Poland Troops U-Turn, Ebola Aid Cuts Impact

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/5deb93c4-15b3-4cee-9c94-b45200606f72/transcript

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Nvidia facing more investor skepticism, used its latest quarterly report to tout progress in diversifying the company, which aims to rely less on the giant data center operators that have fueled its runaway growth.

(2) Standard Chartered Chief Executive Officer Bill Winters sought to reassure staff after his remarks on using artificial intelligence to replace “lower-value human capital” triggered a sharp backlash on social media and from a former head of state.

(3) The way Unilever Chief Executive Officer Fernando Fernandez starts every meeting at the consumer products maker says a lot about the mindset of corporate bosses who fear their companies have lost their edge.

(4) The US and Iran traded threats of escalation as the weeks-long standoff in the Middle East dragged on without resolution.

(5) The JPMorgan banker named in a graphic sexual harassment suit that went viral last month hit back at her accuser with a defamation counterclaim, calling his allegations “entirely false” and “malicious.”

Podcast Conversation: Spa Weekends Have Found a Crucial New Attraction in Mahjong

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Nvidia facing more investor skepticism, used its latest quarterly report to tout progress in diversifying the company, which aims to rely less on the giant data center operators that have fueled its runaway growth. (2) Standard Chartered Chief Executive Officer Bill Winters sought to reassure staff after his remarks on using artificial intelligence to replace &ldquo;lower-value human capital&rdquo; triggered a sharp backlash on social media and from a former head of state. (3) The way Unilever Chief Executive Officer Fernando Fernandez starts every meeting at the consumer products maker says a lot about the mindset of corporate bosses who fear their companies have lost their edge. (4) The US and Iran traded threats of escalation as the weeks-long standoff in the Middle East dragged on without resolution. (5) The JPMorgan banker named in a graphic sexual harassment suit that went viral last month hit back at her accuser with a defamation counterclaim, calling his allegations &ldquo;entirely false&rdquo; and &ldquo;malicious.&rdquo; Podcast Conversation: <a href="https://news.bloomberglaw.com/new-york-brief/spa-weekends-have-found-a-crucial-new-attraction-in-mahjong#:~:text=Spa%20Weekends%20Have%20Found%20a%20Crucial%20New%20Attraction%20in%20Mahjong,-May%2019%2C%202026&amp;text=Whatever%20you%20do%2C%20don't,in%20New%20York's%20Hudson%20Valley." data-destination="https://news.bloomberglaw.com/new-york-brief/spa-weekends-have-found-a-crucial-new-attraction-in-mahjong#:~:text=Spa%20Weekends%20Have%20Found%20a%20Crucial%20New%20Attraction%20in%20Mahjong,-May%2019%2C%202026&amp;text=Whatever%20you%20do%2C%20don't,in%20New%20York's%20Hudson%20Valley.">Spa Weekends Have Found a Crucial New Attraction in Mahjong</a>

Nvidia Fails To Excite, SpaceX IPO Revelations, Booze Firms'  Sobering Times

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b7462112-66dd-4a95-a714-b45100601dd9/transcript

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Yields on the US Treasury’s longest-dated bond rose to the highest level in almost two decades as investor concerns mount that accelerating inflation will force central bankers to raise interest rates.

(2) Borrowers poured into Europe’s bond market at the fastest pace ever, locking in funding before the region’s central bank is likely to hike interest rates.

(3) Chancellor of the Exchequer Rachel Reeves has privately proposed voluntary price freezes on food in supermarkets, as the UK government seeks to ease cost of living pressures for struggling Britons.

(4) President Donald Trump threatened to resume strikes on Iran in the coming days as part of the push for a deal to end the war, after he said he had just called off a US attack.

(5) The European Union finalized the text of its long-delayed US trade deal after months of negotiations, clearing a major hurdle to ratifying the pact before President Donald Trump’s threatened deadline to impose higher tariffs.

(6) The UK’s right-wing Reform party has a warning for investors: don't bet on renewable energy projects awarded by the sitting Labour government.

(7) When it comes to financial management, religious organizations have had a lot of catching up to do.

Podcast Conversation: Arsenal's decades-long wait is over.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Yields on the US Treasury&rsquo;s longest-dated bond rose to the highest level in almost two decades as investor concerns mount that accelerating inflation will force central bankers to raise interest rates. (2) Borrowers poured into Europe&rsquo;s bond market at the fastest pace ever, locking in funding before the region&rsquo;s central bank is likely to hike interest rates. (3) Chancellor of the Exchequer Rachel Reeves has privately proposed voluntary price freezes on food in supermarkets, as the UK government seeks to ease cost of living pressures for struggling Britons. (4) President Donald Trump threatened to resume strikes on Iran in the coming days as part of the push for a deal to end the war, after he said he had just called off a US attack. (5) The European Union finalized the text of its long-delayed US trade deal after months of negotiations, clearing a major hurdle to ratifying the pact before President Donald Trump&rsquo;s threatened deadline to impose higher tariffs. (6) The UK&rsquo;s right-wing Reform party has a warning for investors: don't bet on renewable energy projects awarded by the sitting Labour government. (7) When it comes to financial management, religious organizations have had a lot of catching up to do. Podcast Conversation: Arsenal's decades-long wait is over.

Surging Borrowing Costs, EU-US Deal Advances, Nuns Get Financially Savvy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ba8b5f29-0221-4e5e-a960-b450005e33bc/transcript

Daybreak Holiday: Inflation Pressure, Markets, Retail

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