Trump Signals Land Strikes on Cartels After Maduro Operation | Daybreak Europe 1/9/2026

Watch on YouTube ↗  |  January 09, 2026 at 08:00  |  46:31  |  Bloomberg Markets
Speakers
Valerie Tytel — Reporter, Bloomberg
Martin — Mining Reporter, Bloomberg
Frederique Carrier — Head of Investment Strategy, RBC Wealth Management
Haley Craig — Principal, Origin Advocacy; Former U.S. Senate Trade Advisor
Klaus Dodds — Interim Faculty Dean for Science and Technology, Middlesex University
Lizzy — Anchor, Bloomberg Daybreak Europe

Summary

Bloomberg Daybreak Europe focused on two major US risk events: the delayed US payrolls report and a possible Supreme Court ruling on Trump's IEEPA tariffs. Markets also reacted to Trump directing Fannie Mae and Freddie Mac to buy $200 billion of mortgage bonds and to renewed Rio Tinto-Glencore merger talks. Geopolitics remained prominent, with Trump signaling possible land strikes on Venezuelan drug cartels, Iran protests, and pressure over Greenland. RBC's Frédérique Carrier discussed Fed cuts, elevated US equity valuations, and long-term dollar weakness.

  • Markets awaited US payrolls and a Supreme Court ruling on Trump's IEEPA tariffs.
  • Trump directed Fannie Mae and Freddie Mac to buy $200 billion of mortgage bonds, lifting mortgage and home-lender shares.
  • Rio Tinto and Glencore resumed talks on a merger that would create the world's largest mining company.
  • Trump signaled possible US strikes on drug cartels in Venezuela; Iran protests and Greenland pressure added geopolitical risk.
  • Copper demand and long-term high prices remained a key rationale behind mining M&A activity.
  • RBC's Frédérique Carrier expected one or two Fed cuts, flagged high US equity valuations, and forecast long-term dollar weakness.
  • Asia markets were mixed; China data improved modestly, Alibaba rose on Nvidia H200 import approval, and TSMC revenue supported AI spending hopes.
Ideas
Valerie Tytel Reporter, Bloomberg 3:29
Tariff overturn lifts stocks, pressures Treasuries
If the Supreme Court strikes down the IEEPA tariffs, the market is likely to treat the ruling like a tax cut: positive for corporate margins and the equity market, but negative for the Treasury market because it raises worries about the deficit and whether tariff revenue must be refunded.
SPY MED
Valerie Tytel Reporter, Bloomberg 3:29
Tariff overturn lifts stocks, pressures Treasuries
If the Supreme Court strikes down the IEEPA tariffs, the market is likely to treat the ruling like a tax cut: positive for corporate margins and the equity market, but negative for the Treasury market because it raises worries about the deficit and whether tariff revenue must be refunded.
TLT MED
Valerie Tytel Reporter, Bloomberg 4:21
Mortgage-bond buying supports lenders, rates
Trump directed Fannie Mae and Freddie Mac to buy $200 billion of mortgage bonds to lower housing costs ahead of the midterms, even at the expense of the deficit, and showed willingness to intervene directly in housing. Mortgage bonds rallied and home-lender stocks such as loanDepot and Rocket Mortgage moved sharply, with Citi estimating the buying could lower mortgage rates by 25 basis points.
Mortgage bonds LDI RKT MED
Martin Mining Reporter, Bloomberg 10:10
Copper demand supports long-term high prices
Mining companies want copper because of its demand profile over the next 10 to 20 years and the prospect of relatively high copper prices for a long time. The recent record-high price backdrop strengthens the strategic rationale even if deals would proceed regardless.
COPPER HIGH
Frederique Carrier Head of Investment Strategy, RBC Wealth Management 38:42
High US equity valuations face AI risk
US equity valuations are high, even excluding the very highly valued Mag 7, but they can be sustained while rates are stable and corporate earnings keep delivering. The risk is a sharp economic slowdown or the AI story unraveling through weaker capex or insufficient productivity returns, which could force a market adjustment and warrant benchmark-relative caution.
SPY MAGS MED
Frederique Carrier Head of Investment Strategy, RBC Wealth Management 41:29
Dollar likely weakens as central banks diversify
The overall tendency for the US dollar is slight weakness over the long term as central banks continue diversifying reserves and the US is seen as a less reliable actor than in the past. The dollar is unlikely to be entirely replaced as a reserve currency but should weaken.
UUP HIGH
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This Bloomberg Markets video, published January 09, 2026, features Valerie Tytel, Martin, Frederique Carrier discussing SPY, TLT, Mortgage bonds, LDI, RKT, COPPER, MAGS, UUP. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Valerie Tytel, Martin, Frederique Carrier  · Tickers: SPY, TLT, Mortgage bonds, LDI, RKT, COPPER, MAGS, UUP