Thursday, January 25
Most Emailed on the Terminal:
Dalio on Bloomberg TV in Davos: Bonds Face Biggest Bear Market in Almost 40 Years (Bloomberg)
U.K. Prime Minister Theresa May talked to John Micklethwait on Bloomberg TV from Davos today: Theresa May Leaves Door Open to the UK Paying for Access to EU’s Single Market (Bloomberg)
Shaking up Davos: President Trump today joined a large U.S. delegation that’s already shaking things up. Treasury Secretary Steven Mnuchin sent the greenback tumbling yesterday when he said a weaker dollar isn’t a concern and actually would be good for trade. Commerce Secretary Wilbur Ross said that the U.S. was already in a trade war, a day after Trump said it wasn’t. Trump to Tell Davos that ‘America First’ is Good for Globalism (Bloomberg – Balance of Power)
Terminal tip: Tomorrow, Trump’s speech to Davos will be live blogged on the terminal at TLIV <GO> starting at 2pm Davos time (8am – New York time, 1pm – London time).
It’s the dollar, stupid: In contrast to President Trump’s pledge to make “America First,” the U.S. was actually last in investment performance and job growth among major economies in 2017 for the first time in a decade. Does Mnuchin Know? The Dollar is Weak Already (Bloomberg View – Matt Winkler)
MAYOR OF THE WORLD — per a tipster: “America’s Pledge, the climate organization co-chaired by Mike Bloomberg and Governor Jerry Brown , launched a digital protest at the World Economic Forum in Davos on Wednesday. The ads coincide with President Trump’s arrival in Davos and they call on the President to stay in the Paris Agreement on Climate. They are running across social media and digital news sites in Davos, which ensures that they will be seen by attendees at the World Economic Forum. The hard-hitting spots go after President Trump by reminding everyone that while India and Pakistan, Israel and Iran, and North Korea and South Korea rarely agree on much, they all agree on the Paris Agreement on Climate.” Watch the video here.
U.S. constitutional law expert Alan Dershowitz tells a conservative website that Mike Bloomberg is among his “ideal” future presidents. Q&A with Alan Dershowitz (Newsmax)
Inside Riyadh’s Ritz-Carlton: Bloomberg reporter Alaa Shahine is one of a few journalists to enter the world’s only 5-Star prison. Saudi Arabia Struck Gold With Corruption Crackdown (Bloomberg)
The Dark Side of America’s Rise to Oil Superpower: It sounds good, but be careful what you wish for (Bloomberg Businessweek cover story)
Goodbye Yellow Brick Road: Elton John retires from touring…with 300-date world tour (Guardian)
Best of Late Night:
“Melania Trump will no longer join the president in Davos, due to ‘scheduling and logistical issues.’ Yes, there were logistical issues — for instance, the weather. She was afraid it was going to be too ‘stormy.’ ” — Stephen Colbert
“According to the president’s chief economic adviser, Gary Cohn, Trump plans to tell the world that America is open for business. And who better to make that declaration than a man who declared bankruptcy six different times?” — Jimmy Kimmel
“Pizza Hut says if either team beats the record for the fastest touchdown in the Super Bowl, it’s giving away free pizza to people in its loyalty program. The only downside is, you have to tell people that you’re in the Pizza Hut loyalty program.” — Jimmy Fallon