US, China Extend Trade Truce as Trump Welcomes Xi

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins.

A global bond selloff intensified, jolting investors as robust US economic data and weak demand at a debt auction drove Treasury yields across much of the curve to their highest levels in almost two decades.

Treasury Secretary Scott Bessent announced the US and China have sealed a two-month extension to their trade truce, as Xi Jinping landed in America for his first state visit in eleven years.

And Iranian President Masoud Pezeshkian said his country won’t allow freedom of navigation through the Strait of Hormuz while sanctions and a US blockade remain in place, underscoring the difficulty in reaching a peace deal with Washington despite efforts to revive talks this week.

Today's guests: Alicia García-Herrero, Natixis, Chief APAC Economist; Frank-Steffen Walliser, Bentley, CEO & Chairman.

Chapters:
00:00:00 - Daybreak Europe
00:01:55 - US Unveils Two-Month Truce Extension as Xi Lands for Summit
00:08:49 - Xi Lands in US for First State Visit in 11 Years
00:14:25 - Pezeshkian: Iran Won't Accept Language of Force
00:18:29 - UK Tightens Sanctions on Iranian Banks
00:20:52 - Zelenskyy Pitches Himself as Security Provider
00:24:36 - US and China Extend Truce
00:27:18 - Xi-Trump Summit
00:31:56 - Alicia García-Herrero, Natixis, Chief APAC Economist
00:36:07 - Frank-Steffen Walliser, Bentley, CEO & Chairman
00:44:37 - Real Yields Hit 18-Year Closing High
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