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Stocks Slip Ahead of Data; Senate Pulls All-Nighter on Trump Tax Bill | Bloomberg Brief 7/1/2025

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July 1, 2025

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Equity futures fall after the S&P 500 posted its best quarter since 2023, while the dollar saw its weakest half of a year since 1973. The Senate vote on President Trump's $3.3 trillion tax and spending bill continues into Tuesday morning. Europe is said to be pushing to negotiate on Trump's universal tariff, while Trump threatens to increase levies on Japan. Major central bank chiefs including Powell, Lagarde, Bailey, Ueda and Rhee are set to speak at the ECB forum in Sintra, Portugal. BNY's Geoffrey Yu and Kelsey Berro of JPMorgan Asset Management discuss their outlook for foreign interests in Treasuries and the dollar. “Bloomberg Brief” delivers the market news, data and analysis you need to set your agenda.

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