Trump Headlines Texas Convention

Summary

Bloomberg's Balance of Power broadcasts live from Dallas on day two of the Republican Midterm Convention, covering President Trump's proposal for $5,000 dividend checks if Republicans hold Congress. Interviews with Jim Jordan, Beto O'Rourke, Rahm Emanuel, and Beth Van Duyne focus on fiscal policy, AI and data centers, Treasury credibility and the yen, and Texas economic issues. Market updates show a sharp rally in oil pressuring stocks and bonds.

• President Trump proposes $5,000 dividend checks for Americans if Republicans win the midterms.
• Jim Jordan supports tax cuts and argues spending is the main deficit driver, but wants details on the dividend plan.
• Beto O'Rourke discusses young voters, AI job fears, and calls for AI regulation or a pause.
• Rahm Emanuel criticizes the Trump dividend as a gimmick and questions Treasury Secretary Bessent's credibility on the yen.
• Beth Van Duyne discusses Texas data center growth, local tax benefits, and energy policy.
• Oil prices rally sharply with WTI above $101 and Brent above $107.
• Stocks and bonds fall as oil rises, with Treasury yields climbing.
• The national debt topping $40 trillion and bond market fiscal concerns are recurring themes.