Bloomberg Daybreak: Europe Edition France Govt Set To Fall, Japan PM To Quit, HSBC CEO Headwinds
Sep 8, 2025
France faces a potential government collapse as Prime Minister Francois Bayrou's debt reduction efforts hit a wall. In Japan, political turmoil escalates with Shigeru Ishiba's resignation, causing investor jitters. Meanwhile, South Korea reacts to an immigration raid at a local EV battery plant linked to significant US investments. In the UK, wage growth stagnates, signaling a cooling labor market. Amidst these shifts, OPEC+ appears ready to pursue a bold oil strategy, navigating through evolving global market dynamics.
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Japan Leadership Change Spurs Yen Weakness
- Shigeru Ishiba said he will step down after election setbacks that cost his party its majority.
- Markets feared this political instability would reduce the chance of BOJ rate hikes, weakening the yen.
US Raid Strains US–South Korea Investment Ties
- An ICE immigration raid at a Georgia EV battery site detained hundreds of Korean workers and strained Seoul-Washington ties.
- The incident risks becoming a major diplomatic issue after recent US-South Korea investment pledges.
OPEC+ Adds Cautious Supply, Markets Muted
- OPEC+ approved a modest supply restart of 137,000 b/d from October despite analyst warnings.
- Traders had priced in increases, but the market reaction showed limited awe given the relatively small addition.