Market Trends & Geopolitical Risks - Asia is expected to open cautiously due to fatigue in Wall Street's rally and ongoing geopolitical risks [1] - The market is closely watching Asia tech, especially NVIDIA's suppliers, after NVIDIA's all-time highs [2] - The Hong Kong Monetary Authority intervened by buying $1.2 billion of local currency to defend the currency peg [3][13] - President Trump is considering naming the next Fed Chair early, potentially undermining Chair Powell [3][4] - The U S will hold a meeting with Iran next week, but the extent of damage to Iranian nuclear facilities remains uncertain [5][24][25] - Trade truce deadlines are approaching, creating uncertainty about the impact of unresolved tariff issues on inflation [35] Monetary Policy & Currency Dynamics - Markets anticipate that Trump naming a Fed Chair successor earlier could undermine Fed autonomy and lead to a dovish chair, impacting the U S dollar [18][35] - The broader dollar trajectory is for dollar weakness [14] - The Hong Kong dollar is at risk of falling out of its peg against the U S dollar, necessitating intervention [15] - The PBOC is helping to drive down benchmark borrowing costs in Hong Kong, creating an arbitrage opportunity that is pushing down the Hong Kong dollar against the U S dollar [16][17] Company Specific News - CATL is prioritizing overseas expansion due to irrational competition and price wars in China's EV market [1][35] - Zero acquired Melio, a payments platform, for $2.5 billion to bolster its U S offering and capture more market share [37][38] - Xiaomi is launching its first electric SUV, the YU7, and investors are closely watching the pricing and initial consumer reactions [56][57][58]

A major focus of our conversations at the summit was the need for other NATO members to take up the burden of the defense of Europe, and that includes the financial burden. As you know, it was a 2% and we got it up to 5%. And they said a couple of them came up to me.One in particular said, Sir, we've been trying to get it up to 3% for 20 years and we haven't been able and you got it up to 5%. So they're going to be most of them, I guess almost all of them are going to be contributing now 5%, a number that. ...

very historic milestone. This week, the NATO allies committed to dramatically increase their defense spending to that 5% of GDP. Something that no one really thought possible.And they said, "You did it, sir. You did it." Well, I don't know if I did it, but I think I did. This will be known as the HEG Defense Commitment, which is pretty good, pretty appropriate. When the allies reach this number, it will add more than $1 trillion a year.Think of that 1 trillion per year to our common defense. And this is a m ...

Geopolitical Landscape - The news conference is happening against the backdrop of events in Israel and Iran, with questions surrounding the destruction level of Iran's nuclear sites following US strikes [3] - The NATO summit declaration is the first since the start of the Russia-Ukraine war that does not directly condemn Russia's aggression towards Ukraine [6] Defense Spending - NATO members have agreed to increase their defense spending to 5% of GDP by 2035 [4] - The US defense spending was at a record low last year, less than 3% of GDP [5]

President Donald Trump holds a press conference at the NATO summit in The Hague. The alliance just reached a deal to increase defense spending to 5% of GDP and leaders renewed their commitment to mutual defense in an historic move that comes at the time of an increasingly belligerent Russia. ...

President Donald Trump delivers remarks at NATO summit on Wednesday. NATO will show on Wednesday whether it can unite on a defense spending hike. Allies have been wrangling over a joint statement that will be released at the end of the summit on. The coalition’s members have been pressured to commit to spending 5% of GDP on defense. Some have pushed back. Trump doubled down on the success of Washington’s strikes on Iran, dubbing an American intelligence assessment of the offensives as “inconclusive.” The in ...

We're with them all the way. If you take a look at the numbers, we're with them. And they're very big things to announce.And I don't know if you've taken the vote or you're going to take the vote, but I've been asking them to go up to 5% for a number of years and they're going up to 5%. That's a big from 2%. And a lot of people didn't even pay the 2%.So I think it's going to be very big news that it is going to become very strong with us. And I appreciate doing it. Perhaps you want to jump.Yeah, absolutely. ...

US President Donald Trump expressed support for NATO, praising its moves to bolster defense spending. Trump and NATO Secretary General Mark Rutte were speaking to reporters in The Hague. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect wi ...

Defense Spending & NATO - NATO aims to reach 5% defense spending target, requiring difficult decisions from member states [5] - The challenge lies in justifying defense spending during peacetime [5] - NATO Secretary General is working to keep European countries united on defense spending [6] - Discussions include opening financial possibilities for member states to spend more and promoting joint procurement [7] - The 2% of GDP spending pledge by 2024 was not met by all countries [9] - The summit's primary goal is to secure agreement on moving to 5% of defense spending [10] - Article 5 of NATO is clear: an attack on one is an attack on all [13] Geopolitical Issues & Ukraine - Every new war diverts attention from ongoing conflicts, such as the one in Ukraine [17] - The EU has supported Ukraine's military with €24 billion in 2024, exceeding last year's support [18] - The EU is pursuing an 18th package of sanctions against Russia [18] - Discussions are planned regarding the use of Russian frozen assets to aid Ukraine [19][20] International Relations & Trade - The EU is working towards a trade deal with the United States by July 9th [20] - Canada's potential relationship with the EU is being considered, despite geographical challenges [21][22]

Spain’s Economy Minister Carlos Cuerpo discusses the country's defense spending plans as NATO leaders meet in The Hague for a summit expected to endorse the new investment targets. He tells Bloomberg Television that Spain has estimated what it needs to spend and that this amounts to 2.1% of output and that it will remain a "responsible NATO ally." He also comments on the decision by the Spanish government regarding BBVA's bid for Banco Sabadell. 00:00 - Spanish Economy Minister on NATO spending, 2.1% of GDP ...