After the Supreme Court threw out President Biden's plan to cut student loan debt, more than 40 million people are preparing to resume payments on their debt. And it's not just former students who could feel the pain. The broader economy could also take a hit. Bloomberg's Denise Pellegrini has details in this special report.

After the Supreme Court threw out President Biden's plan to cut student loan debt, more than 40 million people are preparing to resume payments on their debt. And it's not just former students who could feel the pain. The broader economy could also take a hit. Bloomberg's Denise Pellegrini has details in this special report.

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Bloomberg Daybreak: US Edition

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

BONUS EPISODE: Student Loan Supreme Court Fallout

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6b58db0f-059a-41f9-bc5d-b03800d2eba2/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran have intensified tit-for-tat military strikes, with Iran hitting merchant vessels and the US striking Islamic Revolutionary Guard Corps sites. Iran said the US killed 18 people with its attacks, and vowed to punish Washington for a strike on a wedding ceremony that killed at least four people and injured 67. The conflict has led to a rise in energy prices, with Brent crude oil climbing more than 6% this week to $95 a barrel, and US pump prices for diesel at a four-year high.
2) US retail diesel prices have hit the highest since mid-2022, topping a peak seen during the early stages of the Iran war. The national average pump price climbed to $5.783 a gallon on Wednesday, surpassing the wartime peak set in April, and is approaching the all-time high of $5.816 in June 2022. The surge in prices presents a political headache for President Donald Trump, as he contends with mounting cost-of-living concerns before November’s midterm elections.
3) A disagreement between Chinese and US officials at a Group of 20 finance chiefs meeting revolved around a dispute over the phrase “non-market” in a sentence addressing trade imbalances. The US side attributed the impasse to disagreements on language spanning issues from critical minerals to debt restructuring, while Chinese officials saw the term as a veiled attack on state-owned companies. The final chair statement from the US included a line saying countries should agree to “eliminate non-market policies and practices that exacerbate imbalances,” which was opposed by China.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran have intensified tit-for-tat military strikes, with Iran hitting merchant vessels and the US striking Islamic Revolutionary Guard Corps sites. Iran said the US killed 18 people with its attacks, and vowed to punish Washington for a strike on a wedding ceremony that killed at least four people and injured 67. The conflict has led to a rise in energy prices, with Brent crude oil climbing more than 6% this week to $95 a barrel, and US pump prices for diesel at a four-year high. 2) US retail diesel prices have hit the highest since mid-2022, topping a peak seen during the early stages of the Iran war. The national average pump price climbed to $5.783 a gallon on Wednesday, surpassing the wartime peak set in April, and is approaching the all-time high of $5.816 in June 2022. The surge in prices presents a political headache for President Donald Trump, as he contends with mounting cost-of-living concerns before November&rsquo;s midterm elections. 3) A disagreement between Chinese and US officials at a Group of 20 finance chiefs meeting revolved around a dispute over the phrase &ldquo;non-market&rdquo; in a sentence addressing trade imbalances. The US side attributed the impasse to disagreements on language spanning issues from critical minerals to debt restructuring, while Chinese officials saw the term as a veiled attack on state-owned companies. The final chair statement from the US included a line saying countries should agree to &ldquo;eliminate non-market policies and practices that exacerbate imbalances,&rdquo; which was opposed by China.

US-Iran War Stalled; Diesel Hits Four-Year High

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b22bbedd-b270-40c3-a06b-b4ba009c507a/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Fighting between the US and Iran over control of the Strait of Hormuz escalated, with Tehran accusing American forces of bombing a residential area in a wave of overnight strikes.The US military carried out its second round of attacks in three days, which US Central Command said targeted radar systems and mine-laying capabilities along Iran’s southern coast. This prompted the Islamic Republic to retaliate with drone and missile volleys on US bases across the Middle East, in line with tactics used throughout the six-month war.
2) Three Massachusetts Democrats with more than 110 years of service in Congress between them held off much younger challengers in Tuesday’s primaries.Sen. Ed Markey, an outspoken progressive, trounced Rep. Seth Moulton, a more moderate candidate, by 65%-35% in nearly complete returns. Moulton, 47, ran an anti-establishment and generational-change campaign that tried to make the case that Markey, 80, shouldn’t be given another six-year Senate term he would finish at age 86. Markey said he was as invigorated as ever to stand up to the Trump administration.
3) The selloff sweeping global bond markets looks painful, but it’s nothing compared with the rout four years ago, when soaring inflation forced central banks into a series of rapid-fire interest-rate hikes.The difference is scale. While the latest pullback has driven yields to multi-year highs in the world’s biggest markets, the move is just a fraction of the one seen in late 2022. Global government bond yields have risen 17 basis points on a rolling 20-day cumulative basis, compared with 62 basis points back then, data compiled by Bloomberg show. On a peak-to-trough basis, bonds have lost 4.2% this year — a far cry from the 23% plunge seen in 2022.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Fighting between the US and Iran over control of the Strait of Hormuz escalated, with Tehran accusing American forces of bombing a residential area in a wave of overnight strikes.The US military carried out its second round of attacks in three days, which US Central Command said targeted radar systems and mine-laying capabilities along Iran&rsquo;s southern coast. This prompted the Islamic Republic to retaliate with drone and missile volleys on US bases across the Middle East, in line with tactics used throughout the six-month war. 2) Three Massachusetts Democrats with more than 110 years of service in Congress between them held off much younger challengers in Tuesday&rsquo;s primaries.Sen. Ed Markey, an outspoken progressive, trounced Rep. Seth Moulton, a more moderate candidate, by 65%-35% in nearly complete returns. Moulton, 47, ran an anti-establishment and generational-change campaign that tried to make the case that Markey, 80, shouldn&rsquo;t be given another six-year Senate term he would finish at age 86. Markey said he was as invigorated as ever to stand up to the Trump administration. 3) The selloff sweeping global bond markets looks painful, but it&rsquo;s nothing compared with the rout four years ago, when soaring inflation forced central banks into a series of rapid-fire interest-rate hikes.The difference is scale. While the latest pullback has driven yields to multi-year highs in the world&rsquo;s biggest markets, the move is just a fraction of the one seen in late 2022. Global government bond yields have risen 17 basis points on a rolling 20-day cumulative basis, compared with 62 basis points back then, data compiled by Bloomberg show. On a peak-to-trough basis, bonds have lost 4.2% this year &mdash; a far cry from the 23% plunge seen in 2022.

US Attacks Prompt Iranian Retaliation; MA Election Results

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/cf25bec5-becc-4111-9a8a-b4b900a05c56/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Donald Trump dismissed concerns that the conflict in Iran was draining American firepower as clashes resumed in the on-again off-again hostilities that have stretched more than six months, with neither side willing to restart negotiations to end the war.“This is a relatively little war for us,” Trump told reporters on Monday. “This is not a big war.”
2) A woman randomly stabbed two people in New York City’s Times Square on Monday, killing one woman, and then was fatally shot by police, according to officials.The shooting happened just before 4:30 p.m. next to a New York Police Department substation, just outside One Times Square, the building that hosts the city’s annual New Year’s Eve ball drop celebration. It is one of the most heavily touristed and policed spots in all of New York.
3) US Army Secretary Dan Driscoll is stepping down after repeated clashes with his boss, Pete Hegseth, leaving the service without several top leaders even as the conflict with Iran continues.Driscoll submitted his resignation to President Donald Trump, according to a person familiar with the matter who asked not to be identified. His decision was first reported by the Wall Street Journal.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) President Donald Trump dismissed concerns that the conflict in Iran was draining American firepower as clashes resumed in the on-again off-again hostilities that have stretched more than six months, with neither side willing to restart negotiations to end the war.&ldquo;This is a relatively little war for us,&rdquo; Trump told reporters on Monday. &ldquo;This is not a big war.&rdquo; 2) A woman randomly stabbed two people in New York City&rsquo;s Times Square on Monday, killing one woman, and then was fatally shot by police, according to officials.The shooting happened just before 4:30 p.m. next to a New York Police Department substation, just outside One Times Square, the building that hosts the city&rsquo;s annual New Year&rsquo;s Eve ball drop celebration. It is one of the most heavily touristed and policed spots in all of New York. 3) US Army Secretary Dan Driscoll is stepping down after repeated clashes with his boss, Pete Hegseth, leaving the service without several top leaders even as the conflict with Iran continues.Driscoll submitted his resignation to President Donald Trump, according to a person familiar with the matter who asked not to be identified. His decision was first reported by the Wall Street Journal.

Trump Dismisses ‘Little War’ With Iran, Woman Shot Dead by NYPD

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8cf31368-0371-456f-9a0a-b4b8009d79a9/transcript

BONUS EPISODE: Student Loan Supreme Court Fallout

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