# Chinese Treasury Cuts and Novo Nordisk Surge

**Podcast:** Bloomberg Daybreak: US Edition
**Published:** 2026-02-09

## Transcript

Bloomberg Audio Studios Podcasts Radio News.
Good morning.
I'm Nathan Hager.
And I'm Karen Moscow.
Here are the stories we're following today.
Karen, we begin with Super Bowl 60.
The Seattle Seahawks beat the New England Patriots 29 to 13 for the franchise's second NFL title.
For the details, we bring in Bloomberg's John Stash Hour.
John.
All right, Nathan.
Thank you.
There's that old sports cliche.
Offense wins games.
Defense wins championships.
It was the Seattle defense that carried them to the victory in Super Bowl 60 and Santa Clara.
In fact, the Seahawks defense scored as many touchdowns as their offense.
The Patriots have a first down.
And the clock is kicking at 4 38.
And they trail 22-7.
Shotgun snap.
44 Seattle.
He's hit as he drops back.
The ball three.
Picked up by Noosu.
Running down the side.
30, 20, 10, 50.
We won the call of one of three second half turnovers by Patriots quarterback Drake May.
He got sacked six times.
New England through the first three quarters had only five first downs and only 78 yards of offense.
The Seahawks won 29-13 running by Kenneth Walker with 135 yards named Super Bowl MVP.
Much more coming up in sports.
John Stashauer, Bloomberg Radio.
And we look at markets now.
Natility.
The guidance, which was communicated verbally to some of the bigg has learned that Chinese regulators have advised financial institutions to rein in recent weeks, reflects growing weariness among officials that large holdings of U.S.
Treasury, citing concernment debt may expose banks and market volatility.
Bloomberg's Mark Cranfield covers Asian markets for Bloomberg News.
Don't be the last one out of the gate.
Because once the dollar and bonds start to move, it could be pretty big in these situations where treasuries haven't moved a great deal over the past few weeks.
Volatility could increase very quickly.
Election in Japanese history.
And boy, has she had a big victory today?
She's gonna have two-thirds majority in the upper house.
President Trump endorsed her last week.
She is a great al great ally, great relationship with the president.
And when Japan is strong, the the U.S.
is strong in Asia.
That was Treasury Secretary Scott Bessent on Fox News.
Later on X Takaichi said she's looking forward to visiting the White House in the spring to strengthen the Japan-U.
In the UK, Nathan Keir Starmer's future is in the balance after a crisis over the appointment of Peter Mendelson as ambassador to Washington, claimed the Prime Minister's closest aid.
We head to London now.
Get the latest of Bloomberg's James Woolcock.
James, good morning.
Good morning, Karen.
Nathan, the Prime Minister meets his Labor Party mall makers tonight as his aides tell Bloomberg they are bracing for some of Starmer's senior ministers to walk into number 10 Downing Street and threaten to quit unless he steps down.
Eighteen months after winning a landslide majority, the UK leader's job is on a knife edge.
It wasn't supposed to be this way.
But a series of policy U-turns, up limiting popularity, and now fallout from the Epstein saga has changed the narrative around this Prime Minister.
Now in markets and in Westminster, many are asking if his days are numbered.
Iran's President Massood Pazeshkian described Friday's nuclear talks with the U.S.
as a step forward.
In an online post, the leader said dialogue has always been Iran's strategy, but he added the regime would not be intimidated.
In recent weeks, President Trump has moved large amounts of military power to the Middle East and threatened strikes.
I'll tell you what's not going to be there.
Stripping away protections for law enforcement officers that are trying to protect themselves.
If rioters get aware masks, then uh law enforcement gets them wear masks.
Texas Republican Tony Gonzalez appeared on CBS's face the nation, which you can hear every Sunday on Bloomberg Radio.
FEMA, the Transportation Security Administration, and the Coast Guard.
ICE would still have seventy-five billion dollars in funds from President Trump's tax and spending cut law.
New York and New Jersey sued the administration in federal court after Gateway filed its own lawsuit in an effort to unlock more than $205 million of federal funds in the Court of Federal claims.
We beg you now to return our mother to us so that we can celebrate with her.
Nanoch.
And in company news, Karen Novo Nordisk's shares are surging this morning.
They're up more than eight percent, reversing some of last week's plunge.
That's after Him's and Hershey pulled a copycat version of the new Wagovee weight loss pill.
Hims and hers says it'll stop offering the treatment.
It said so in a post on X on Saturday.
That was a day after the Food and Drug Administration pledged to crack down on copycat weight loss drugs.
Him's and hers shares in the pre-market are down nearly 15%.
Time now for a look at some of the other stories making news in New York and around the world.
And for that, we're joined by Bloomberg's Michael Barr.
Michael, good morning.
Good morning, Karen.
The Seahawks beat the Patriots 29-13.
But one of the most talked about moments of Super Bowl 60 appeared to come from the halftime headliner, Bad Bunny.
The halftime performance was a piece of history with Bad Bunny becoming the first Spanish language artist to headline the show.
Senior Nielsen VP Stacey Diormas.
Kit Rock was the headliner at the conservative alternative to Bad Bunny's main event at the Super Bowl last night.
Turning point USA's All American halftime show was streamed during the concert.
There are renewed concerns about press freedom in Hong Kong and beyond after Jimmy Lai, the 78-year-old pro-democracy former media tycoon and a fierce critic of Beijing is sentenced to 20 years in prison.
Lai was prosecuted under China's national security law.
The list of Republicans criticizing President Trump for the video that depicted former President Barack Obama and former First Lady Michelle Obama in a racist meme is growing.
From Senator Tim Scott of South Carolina, the Senate's only black Republican, to dozens of other members of Congress.
There is condemnation for posting it in the first place and calls for a public apology.
Mark Moriel, president of the National Urban League, says this is beyond how a world leader should behave.
It doesn't surprise me that he wouldn't take responsibility.
And the fact that he would not very quickly take responsibility and say it was wrong, is why the Congress, by joint resolution, should condemn this.
The Urban League's Mark Moriel is also calling on religious leaders to tell President Trump to apologize.
Global News, 24 hours a day, and whenever you want it, with Bloomberry Scores update.
It's brought to you by Flushing Bank.
And for that, we bring back John Stashour.
John, and this is Bloomberg.
Yeah, thanks, Karen.
Super Bowl 60.
Dominated by the defenses.
It wasn't until the fourth quarter that anyone got into the end zone.
Darnold under center.
Five on the defensive line.
He gets the step, turns right, fakes the handoff.
Here comes the blitz.
Still goes for throw in zone.
Call touchdown.
Corner.
The tight end.
Over the shoulder catch in the corner of the end zone.
And we've got our first touchdown of Super Bowl 60.
Westman won the call.
No TDs.
First three quarters and then four in a span of 11 minutes.
Two for each team.
That Sam Darnold TD bass, followed by two from Drake May.
But he also threw a 45-yard pick six.
May had three second-half turnovers.
He got sacked six times in the game.
And Darnold and the Seahawks beat the Patriots 29-13.
Darnold the Super Bowl winner after a rough first six years of his career when he was considered an NFL bust.
And you know, I told my dad I was uh, you know, and my mom.
But, you know, just I was I was I'm here because of their belief in me.
And they they believed in me throughout my entire career, and I think that's why I was able to believe in myself.
Almost at nauseam.
Darnold with his last two seasons won 31 games.
Seahawks now two and two in their history in Super Bowls.
The Patriots are now six and six.
The next weekend began with that 38-point loss in Detroit, but then a 22-point win in Boston to tie them with the Celtics for second place in the east.
Jalen Brunson, who shot four for 20 on Friday.
This time scored 31.
The Dolphin Phoenix won by American Chris Goddard up in a playoff with Hadeki Matsuyama.
It's already his second win of the year.
Two gold medals for the U.S.
at the Olympics.
Breezy Johnson, the women's downhill, only the second American to win it.
The other was Lindsay Vaughn 16 years ago.
She crashed 14 seconds in.
Nine days after Vaughn tore her ACL.
She broke her leg and a repeat goal for the U.S.
and team figure skating.
John Stash Howard of Bloomberg Sports.
Stay with us.
More from Bloomberg Daybreak coming up after this.
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This is Bloomberg Daybreak.
Good morning.
I'm Nathan Hager.
Treasury yields are rising across the curve this morning with sources telling Bloomberg News the Chinese regulators are urging the country's banks to limit their exposure to U.S.
government debt.
People familiar are saying they're citing concerns over concentration risks and market volatility.
For more, we're joined by Sylvia Westall, Bloomberg News Managing Director for FX and Rates.
She's in our London newsroom this morning.
Sylvia, good morning.
How significant could this Chinese warning be for U.S.
treasuries?
I think the timing is quite interesting.
I mean, why they, you know, they did frame this around diversifying risk.
Um, but there has been this sort of recent global trend that's seen um India and Brazil lower their exposure to to treasuries uh and growing doubts kind of about the appeal of of U.S assets.
Um you've had Trump's threats over Greenland, um, you've had just general unease there, and that's spurred the hunt for alternative assets such as gold.
Um though overall, I think you know uh we have to look at the bigger picture here.
And overseas holdings of of treasuries actually advanced in November to the highest level on record.
That's the most recent data we have.
So we have countries like Norway, Canada, and Saudi Arabia offsetting some of the countries, including China, that have um have sort of um let let treasuries go.
Um and overall last year as well, treasuries had their best returns um for a long time and and they did particularly well um compared to other peers.
So it was actually quite a good time to hold treasuries last year, um, whether you were uh you know domestic or foreign investor.
So there's uh there's a sort of broader picture here to tell, but definitely in terms of timing and in terms of what it says symbolically, it's an important shift.
And part of this timing is uh Treasury Secretary Scott Bessent on uh Fox News yesterday saying that uh Chinese traders could be part of the reason why we saw the volatility in gold last week.
Uh does this point to a new tension point between the US and China?
It's definitely been something whenever the US has had tensions with countries around the world that treasuries have come up because, of course, so much of, you know, this huge amounts of of US debt are held overseas.
Um I think uh I guess the question mark is, you know, what kind of water comes into into the Fed and and what what his outlook is?
Um I do think we're probably going to see more of this back and forth going forward if you kind of look at what um the sort of signals that are being sent and the timing of it as well, given the sort of um question marks over over U.S.
assets coming.
So I think we're in for a period of volatility and um different countries and different people might blame one or the other, but I think what's certain is that um, you know, in this time of volatility, people might try and hold their positions and and see where things where things go.
That's definitely what we saw towards the end of the year with treasuries.
Many of the big um investment houses held firm on what on their calls and and held on to their um what they were doing because there was so much uncertainty out there.
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I'm Karen Moskow.
And I'm Nathan Hager.
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