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cover of episode US Debt Concern After Tax Bill's Passage; President Trump's Harvard Fight

US Debt Concern After Tax Bill's Passage; President Trump's Harvard Fight

2025/5/23
logo of podcast Bloomberg Daybreak: US Edition

Bloomberg Daybreak: US Edition
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The article discusses the passage of President Trump's tax cut bill in the House and its potential impact on the national debt. Experts express concerns about the bill's effect on the deficit and the bond market's reaction. The killing of two Israeli embassy staffers is also mentioned as another major story.
  • President Trump's tax cut bill passed the House, moving to the Senate.
  • Concerns about increasing national debt due to the bill.
  • 30-year treasury yields rise above 5% due to the bill.
  • Killing of two Israeli embassy staffers investigated as a hate crime and act of terrorism.

Shownotes Transcript

On today's podcast:

 1) President Trump's tax cut bill heads to the Senate, but it may have to satisfy bond markets first. Bonds and the dollar rose, with 30-year yields falling after approaching levels last seen in 2007, as investors worried about the US's surging debt load and fiscal concerns.

  1. The White House ramps up its fight with Harvard, blocking foreign students from enrolling. The Trump administration has revoked Harvard University's ability to enroll international students, making up about 27% of the student body, citing the university's failure to condemn antisemitism. The move is seen as a direct attack on Harvard's revenue source, tuition, and may prompt the university to seek a temporary restraining order to block the ban.

  2. A new survey says U-S businesses will be hardest hit by President Trump's tariffs. US businesses are the most worried about the impact of President Donald Trump’s shifting tariff policies on their revenues, with more than half projecting a hit of at least 25% to their revenue, according to a survey by HSBC Holdings Plc.

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