Bloomberg Daybreak: US Edition

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Yemen's government, backed by Saudi Arabia, claimed to have regained territory from the Houthis, as fighting in the region near the Bab el-Mandeb strait intensifies. The Yemeni armed forces said they took control of the Red Sea city of Mokha after battles with the Iran-backed Houthis, and also took over other areas near the Bab el-Mandeb strait. The Saudi-led coalition announced a large operation to recapture Houthi-held territory, and the Houthis responded by firing missiles and drones at the kingdom, targeting the main airport in Riyadh.
2) President Trump is preparing to ease limits on the use of red dyed diesel, a tax-exempt variety of diesel, to pare costs for the essential fuel ahead of the November midterm elections. The plan would allow more widespread use of red or dyed diesel, which is generally available for off-road purposes, and could translate into an effective tax break in some cases. The administration's approach is seen as a bid to address costs for diesel that have surged amid wars in Russia and the Middle East, with retail prices for diesel averaging $6.32 per gallon on Sunday.
3) Billionaire Ray Dalio warned that the Treasury market is vulnerable to a pullback of demand from China and Japan, two of the US’s largest foreign creditors. Dalio said the US relies on foreign capital for about a third of its debt, and that Japan and China have already been paring their holdings. He also warned that the US faces a potential debt crisis within a certain timeframe, and that some borrowers are already starting to feel the squeeze.
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Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) Yemen's government launched a full-scale military campaign to recapture Houthi-held territory after weeks of escalating conflict between the Iran-backed group and Saudi Arabia. The Saudi-led coalition will provide full operational support to Yemeni government forces to end the "Houthi coup" and said Saudi Arabia has the right to defend its sovereignty. The aim is for the Houthis to be "eliminated", according to the coalition's statement, as the fighting has pushed up energy prices and led to increased military support from Western powers. Oil swung amid intensified fighting in Yemen and risks to shipping remain acute.

2) The Pentagon has removed bombers based at the Royal Air Force base in the UK after new threats of a plot linked to Iran emerged. A Defense Department official said all American bombers deployed at RAF Fairford have returned to their home bases in the US. UK Defense Secretary Wes Streeting said Iran was likely responsible for the thwarted attempt to attack, after police arrested a British-Iranian dual national on suspicion of preparation of terrorist acts.

3) Former Anthropic researcher Jacob Coxon will testify at a New York City Council hearing alongside representatives of some of the world’s biggest AI companies. Coxon quit Anthropic last month and issued a warning about the race to develop increasingly powerful AI, accusing his former employer and OpenAI of “gambling with our lives.” The hearing is part of an effort by New York officials to play a larger role in regulating the AI industry, with proposals under consideration including giving whistleblowers a portion of fines or penalties recovered from AI companies.
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Months after Kayla’s discovery, dozens of women in Levittown, a New York suburb on Long Island, learn they, too, are subjects of faked porn. Most are recent graduates of the local high school, and they zero in on a culprit. One of them sets out to prove it.
For official transcripts and additional information on this series, go to bloomberg.com/levittown
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to U.S Mortgage data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to this year’s Nobel Prize decisions.
In Asia – a look ahead to China’s Golden Week Holiday.
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The US added fewer jobs than expected in September and wage growth slowed, signaling some caution among employers amid rising costs.
Nonfarm payrolls increased 29,000 last month after a downward revision to the prior two months, according to Bureau of Labor Statistics data out Friday. That missed all estimates in a Bloomberg survey of economists.
The unemployment rate rose to 4.2%, partly reflecting a growing workforce.
Bloomberg’s Tom Keene and Paul Sweeney get reaction from:
Claudia Sahm, Chief Economist at New Century Advisors
Rebecca Patterson, Senior Fellow at Council on Foreign Relations
Kristina Campmany, Senior Portfolio Manager at Invesco
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