Fed's Powell Served With DOJ Subpoenas & Iran Protests Intensify | Daybreak Europe 1/12/2026

Watch on YouTube ↗  |  January 12, 2026 at 08:19  |  47:01  |  Bloomberg Markets
Speakers
Paul Dobson — Executive Editor, Bloomberg
Lizzy Burden — Crypto Reporter, Bloomberg News
Winnie — Bloomberg Reporter
Mark Cranfield — Cross Asset Strategist, Bloomberg
Oliver Crook — Chief European Correspondent, Bloomberg
Patrick Seitz — Bloomberg Breaking News Editor for the Middle East

Summary

Bloomberg Daybreak Europe leads with the Fed receiving DOJ subpoenas tied to Chair Powell's testimony, prompting a sell-America market reaction with a weaker dollar, lower U.S. futures, and record gold and silver. It also covers intensifying Iran protests and U.S. options, oil's supply-risk bid, and European talks about a military presence in Greenland. Other segments cover Asia market moves, yen weakness, Germany-India business ties, and corporate news.

  • Powell says the Fed was served DOJ grand jury subpoenas and vows to stand firm; Trump denies knowledge of the investigation.
  • U.S. futures and the dollar fall while gold, silver, and the Swiss franc attract haven demand.
  • Iran protests intensify; Trump weighs strong options while saying talks are being arranged.
  • Oil holds gains as Iran unrest raises supply-disruption fears; Brent trades around $63.
  • UK and Germany discuss a European/NATO military presence in Greenland to address Arctic security.
  • Asian markets diverge; KOSPI outperforms and the yen weakens on snap-election speculation.
  • Alibaba and Chinese tech gain after a regulator probe into food-delivery price competition.
  • Germany's chancellor visits India with business leaders; HSBC and other corporate news are covered.
Ideas
Paul Dobson Executive Editor, Bloomberg 6:40
Swiss franc gains as dollar weakens.
The US dollar is weaker against everything as the Fed independence threat weighs on US assets, and haven currencies such as the Swiss franc are performing well.
CHF LOW
Paul Dobson Executive Editor, Bloomberg 8:23
Gold and silver catch haven bid.
Political risk from the DOJ subpoenas and attacks on Fed independence, combined with geopolitical risk around Iran, is undermining the US dollar and driving haven demand. He explicitly says this is why gold and silver are catching a strong bid again and hitting fresh records.
GLD SILVER HIGH
Lizzy Burden Crypto Reporter, Bloomberg News 8:47
Iran unrest supports Brent crude.
Oil is holding gains because protests in Iran are raising the specter of supply disruption, with Brent up to about $63 per barrel.
BNO LOW
Winnie Bloomberg Reporter 13:16
KOSPI gains as U.S. flows shift.
Concerns about Fed independence are driving flows away from US assets and potentially into Asia. She highlights that the KOSPI is gaining and has been the best-performing global gauge so far this year, gaining every session.
EWY MED
Winnie Bloomberg Reporter 13:44
Alibaba gains as delivery price war ends.
Chinese regulators launched a probe into price competition among online food-delivery platforms, which analysts expect will end the price wars that have hurt profit margins. She says this is lifting Chinese tech, led partly by Alibaba.
BABA MED
Mark Cranfield Cross Asset Strategist, Bloomberg 27:22
Fed probe fuels sell-America defensiveness.
The Fed criminal probe is a major distraction that could weaken Fed credibility and market confidence. He notes a mini sell-America reaction with US dollar weakness, lower equities, and lower Treasury futures, and says investors are treating this as another reason to be defensive.
UUP SPY TLT MED
Mark Cranfield Cross Asset Strategist, Bloomberg 28:12
Yen stays weak on snap election.
Snap election speculation in Japan and fiscal-budget concerns are weighing on the yen. He argues the prime minister will prioritize supporting the stock market, which needs a weaker currency, and that traders are happy to continue selling yen and buying other G10 currencies.
FXY HIGH
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This Bloomberg Markets video, published January 12, 2026, features Paul Dobson, Lizzy Burden, Winnie, Mark Cranfield discussing CHF, GLD, SILVER, BNO, EWY, BABA, UUP, SPY, TLT, FXY. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Paul Dobson, Lizzy Burden, Winnie, Mark Cranfield  · Tickers: CHF, GLD, SILVER, BNO, EWY, BABA, UUP, SPY, TLT, FXY