Bloomberg Daybreak

Citadel Securities LLC has hired Matthew Zimmerman from Diameter Capital Partners LP for investment-grade corporate bond trading.

Meatpacker National Beef Inc. said it is seeing a bottom in the US cattle industry’s downturn as it reported its highest margin in two years.

Before Nvidia Corp. was thrown into turmoil by the ouster of longtime chief executive Jensen Huang, a major initiative he championed alongside the giants of Wall Street was proving far more complicated than he had envisioned.

A shortage of available oil supertankers is constraining US crude exports, prompting shippers to hire smaller vessels and direct more cargoes to Europe, according to the head of the largest US port.

Lauren Cassidy, Founder & Chief Investment Officer, at Founders 100 ETF says the Nvidia board should leave the door for Nvidia CEO Jensen Huang to return dependent on the results of the investigation because he has been an 'incredible executive.' Huang was ousted from his post after reports of three affairs, including one with a woman suspected of spying for China. Longtime Chief Financial Officer Colette Kress is taking the job of interim CEO, Nvidia said on Thursday, and Huang will no longer have ties with the chipmaker. The board, which has never had a chair before, appointed director Harvey Jones to that role. (Source: Bloomberg)

AustralianSuper is considering a range of open weight artificial intelligence models to rein in rising costs that saw the country’s largest pension fund run out of coding tokens within three days last month.

The Port Authority of New York and New Jersey is proposing a $10.3 billion budget for 2027 to help finance upgrades to the region’s airports, rail and bus terminals, and bridges.

Anthropic PBC’s initial public offering has drawn about six times the orders for the shares available, according to people familiar with the matter, as interest increases for potentially the biggest first-time share sale ever.

After a year of wild swings, the yen surprised traders by settling into a tight range clustered near 158 per dollar over recent months. But this week it broke out again, unexpectedly breaching the key 160 threshold before rebounding on speculation that officials would intervene to support the currency.

The decades-old system that the copper industry uses to price mined ores is fracturing in the face of an acute shortage.

President Luiz Inácio Lula da Silva’s government is preparing additional budget measures to improve fiscal results next year, stepping up efforts to shore up public finances amid investor concerns about rising public debt, according to a person familiar with the discussions.

It’s still unclear what it means.

"Bloomberg Real Yield" highlights the market-moving news you need to know. Today's guests: Davison Kempner Partner & Head of Research Suzanna Gibbons, Wells Fargo Global Head of High-Grade Debt Syndicate Maureen O'Connor, JPMorgan Asset Management Fixed Income Portfolio Manager Kelsey Berro, and Columbia Threadneedle Head of Mutual Funds & Institutional Shannon Rinehart. (Source: Bloomberg)

Hedge funds are reloading their bets that equities most exposed to interest-rate movements will fall after being forced to back down during the recent rally, Bank of America Corp.’s trading desk said.

The US budget gap widened to $404 billion in October, up 42% from the same period a year earlier, Treasury Department data showed Thursday.

Federal Reserve Bank of Chicago President Austan Goolsbee says the Fed needs to act to tame inflation before the economy becomes overheated during remarks on Yahoo! Finance. (Source: Bloomberg)

Federal Reserve Bank of San Francisco President Mary Daly says further interest-rate increases will likely be needed to bring down inflation, adding that businesses are increasingly contemplating raising prices. She speaks at the Stanford Institute for Economic Policy Research. (Source: Bloomberg)

Kelsey Berro, fixed income portfolio manager JPMorgan Asset Management, joins Scarlet Fu on “Bloomberg Real Yield.” The US bond market tumbled for a second straight session as traders brace for the Federal Reserve to step up the pace of its interest-rate hikes in an effort to pull down inflation. (Source: Bloomberg)

New York City expects to bring in nearly $1 billion more in taxes than it projected earlier this year, as the government’s coffers are fattened by Wall Street’s technology-driven gains.