Bloomberg Daybreak: Europe Edition Daybreak Weekend: Bank Earnings, UK Property Market, China Trade
Jan 9, 2026
Michael McKee, Bloomberg's international economics correspondent, dives into U.S. inflation data and its implications for Federal Reserve policy, while highlighting the distortions from missing data. Herman Chan, a senior U.S. banks analyst, discusses drivers of bank earnings, emphasizing strong trading outcomes and how Fed rate cuts could enhance net interest margins. John Liu, Bloomberg's chief China correspondent, analyzes geopolitical tensions, especially between China and Japan, and the shifting landscape of China's trade relationships, including ties with Latin America and Europe.
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Wealthy Individuals Are Losing Patience
- High-profile exits include Checkout.com founder Guillaume Pousaz and Nassef Sawiris amid non-dom tax removal.
- Allsop's Clementine Munro says the wealthy are fatigued by constant policy uncertainty and shifting tax rules.
Expect A North–South Housing Divide
- UK housing likely to stagnate with a north–south split; London faces gloom while some northern areas may rise.
- A mansion tax could trigger up to a 5% repricing for homes over £2m in London before prices stabilize.
Billionaires Keep Homes But Relocate Households
- Ultra‑wealthy often keep London homes but export household items when relocating, as Nassef Sawiris did.
- Ben Stupples notes ancillary services and staff in London will be affected even if properties remain unsold.