WEBVTT - Trump: War To End Within 2-3 Weeks; Birthright Citizenship Hearing 0:00:02.520 --> 0:00:09.399 Bloomberg Audio Studios, Podcasts, Radio News. 0:00:10.080 --> 0:00:10.639 Good morning. 0:00:10.680 --> 0:00:13.600 I'm Nathan Hager and I'm Alexis Christophers. Here are the 0:00:13.640 --> 0:00:14.960 stories we're following today. 0:00:15.680 --> 0:00:18.400 Alexis, we are seeing a relief rally in markets on 0:00:18.480 --> 0:00:21.320 the prospect of the US ending the war with Iran soon. 0:00:21.760 --> 0:00:24.079 President Trump says he could see the conflict ending in 0:00:24.079 --> 0:00:26.560 two to three weeks as it enters its second month. 0:00:27.400 --> 0:00:28.160 I had one. 0:00:28.000 --> 0:00:31.319 Goal, they will have no nuclear weapon, and that goal 0:00:31.360 --> 0:00:32.400 has been attained. 0:00:32.440 --> 0:00:34.400 They will not have nuclear weapons. 0:00:35.120 --> 0:00:39.160 But we're finishing the job, and I think within maybe 0:00:39.159 --> 0:00:41.599 two weeks, maybe a couple of days longer to. 0:00:41.600 --> 0:00:42.240 Do the job. 0:00:42.440 --> 0:00:45.120 And remarks from the Oval Office heard live on Bloomberg Radio, 0:00:45.159 --> 0:00:48.040 President Trump said it's still possible Iron reaches a deal 0:00:48.159 --> 0:00:51.240 in that timeframe. Secretary of State Marco Rubio says the 0:00:51.320 --> 0:00:54.680 US has had four objectives to destroy a run's offensive missiles, 0:00:54.720 --> 0:00:58.200 destrot's missile production, destroy it's navy, and assure it never 0:00:58.280 --> 0:01:00.639 has a nuclear weapon on or. 0:01:00.560 --> 0:01:02.960 A head of schedule on each of those four objectives, 0:01:03.040 --> 0:01:05.119 and we can see the finish line. It's not today, 0:01:05.160 --> 0:01:07.640 it's not tomorrow, but it is coming. We are going 0:01:07.680 --> 0:01:09.880 to get to the point where our military will have 0:01:09.920 --> 0:01:13.000 achieved all of its objectives in this mission, and they're 0:01:13.000 --> 0:01:14.959 doing so with extraordinary efficiency. 0:01:15.080 --> 0:01:18.240 Secretary of State Rubio made those comments on Fox News. 0:01:18.400 --> 0:01:21.360 But there's one goal that the Trump administration is leaving unsaid. 0:01:21.440 --> 0:01:24.480 As we hear from Bloomberg Middle East correspondent Jumana Bersecci 0:01:24.520 --> 0:01:25.760 in Dubai. 0:01:25.400 --> 0:01:29.720 There was no real objective link to the reopening of 0:01:29.760 --> 0:01:32.080 the streets, and in fact, when he was asked about it, 0:01:32.319 --> 0:01:34.200 he said that they can leave it up to other 0:01:34.280 --> 0:01:37.200 people and pointed to other countries such as the likes 0:01:37.240 --> 0:01:41.000 of China who obviously benefit from the lion's share of 0:01:41.040 --> 0:01:43.640 the energy products that pass through the streets, and that 0:01:43.680 --> 0:01:46.080 it would sort of be something that can be dealt 0:01:46.080 --> 0:01:49.160 with at a later stage, so not an explicit objective 0:01:49.200 --> 0:01:50.320 per se anymore. 0:01:50.440 --> 0:01:54.440 Bloomberg's Jumana Barsecci reports President Trump has expressed frustration with 0:01:54.600 --> 0:01:57.760 US allies for not helping reopen the street. This morning, 0:01:57.800 --> 0:02:00.840 the President told the UK's Telegraph newspaper, but he's strongly 0:02:00.880 --> 0:02:04.040 considering pulling the US out of NATO after it failed 0:02:04.080 --> 0:02:07.720 to join the war, telling the paper it's quote beyond consideration. 0:02:08.200 --> 0:02:11.280 In the meantime, Iran continues to launch attax including at 0:02:11.320 --> 0:02:14.440 an oil tanker, off cutter and cruise missiles targeting the 0:02:14.560 --> 0:02:17.960 United Arab Emirates and a third US carrier group, the 0:02:18.120 --> 0:02:21.080 USS George W. Bush, is on its way to the 0:02:21.080 --> 0:02:23.680 Middle East. The White House as President Trump will deliver 0:02:23.760 --> 0:02:26.400 a primetime address on the war tonight. That's set for 0:02:26.520 --> 0:02:29.280 nine pm Wall Street Time. You could hear it live 0:02:29.360 --> 0:02:32.440 here on Bloomberg Radio or watch on Bloomberg Television and 0:02:32.480 --> 0:02:33.919 the Bloomberg Business app well. 0:02:33.919 --> 0:02:36.880 Alexis oil is falling on the latest war developments, even 0:02:36.919 --> 0:02:40.040 as the strait of hormones remains largely crolosed. Right now, 0:02:40.080 --> 0:02:42.320 Brent is down one point four percent, trading at one 0:02:42.360 --> 0:02:44.680 oh two forty nine a barrel. West Texas Intermediate's at 0:02:44.720 --> 0:02:48.639 ninety nine thirty four. Steven Stepchinski leads Bloomberg's team covering 0:02:48.760 --> 0:02:49.760 energy in Asia. 0:02:50.200 --> 0:02:53.079 There is a new risk premium for oil going through 0:02:53.120 --> 0:02:55.480 the Middle East and gas going through the Middle East. 0:02:55.560 --> 0:02:58.200 That's going to have to be sort of figured out 0:02:58.840 --> 0:03:02.560 going forward, because even if everything were to end, if 0:03:02.600 --> 0:03:04.200 the straight uport moves were to open, if all the 0:03:04.240 --> 0:03:07.280 infrastructure were to be repaired, there's still going to be 0:03:07.360 --> 0:03:10.280 fears in the back of the minds of traders, buyers, 0:03:10.320 --> 0:03:14.760 even sellers as to how safe everything is going forward, 0:03:15.000 --> 0:03:17.040 What are the chances that something could flare up again, 0:03:17.240 --> 0:03:21.320 What are the chances of insurance rates increasing as well? 0:03:22.080 --> 0:03:25.040 Bloomberg Steven Stepchinsky says, while Brenton dipped under one hundred 0:03:25.080 --> 0:03:27.600 dollars a barrel, it is still about thirty seven percent 0:03:27.680 --> 0:03:29.200 higher than before the war began. 0:03:29.720 --> 0:03:32.519 And Nathan, we are seeing stocks rally around the world 0:03:32.560 --> 0:03:35.920 this morning on optimism the war will end. Stocks in 0:03:36.000 --> 0:03:39.840 Japan soared more than five percent, the eurostocks fifty is 0:03:39.920 --> 0:03:42.600 up more than two percent. And this follows yesterday is 0:03:42.640 --> 0:03:44.520 Wall Street rally, which saw the S and P five 0:03:44.600 --> 0:03:47.920 hundred climb two point nine percent the Nasdaq surge three 0:03:47.960 --> 0:03:51.080 point eight percent. Laurence and Filippo is a senior investment 0:03:51.120 --> 0:03:52.760 strategist at Bank of America. 0:03:53.200 --> 0:03:54.880 I think this is a little bit of a relief 0:03:55.000 --> 0:03:57.920 rally here. Now it's headlined to head yeah, if this 0:03:58.040 --> 0:04:00.320 is really all clear, but I think this at least 0:04:00.320 --> 0:04:02.440 gives us a sense of how the markets would react 0:04:02.440 --> 0:04:04.480 when we really do find the end to this. 0:04:04.840 --> 0:04:08.400 Bank of America senior investment strategist Laurence san Felippo. Despite 0:04:08.480 --> 0:04:11.040 yesterday's rally, the S and P five hundred still fell 0:04:11.080 --> 0:04:13.160 four point six percent in the first quarter, while the 0:04:13.240 --> 0:04:16.599 nasjack dropped more than seven percent. Right now, we've got 0:04:16.640 --> 0:04:18.839 S and P futures up, Nathan about four tenths of 0:04:18.880 --> 0:04:19.960 one percent back. 0:04:20.000 --> 0:04:22.320 In Washington, Alexis, the Supreme Court is set to hear 0:04:22.440 --> 0:04:25.480 arguments this morning over the legality of President Trump's executive 0:04:25.560 --> 0:04:28.560 order that ends automatic citizenship for children born to parents 0:04:28.600 --> 0:04:31.600 who are in the US on a temporary visa or illegally. 0:04:31.839 --> 0:04:34.320 Bloomberg Zamy Morris reports from the nation's capital. 0:04:34.839 --> 0:04:38.200 President Trump's executive order stipulates the government will no longer 0:04:38.240 --> 0:04:42.520 recognize birthright citizenship for children born to undocumented immigrants. The 0:04:42.600 --> 0:04:45.279 move up ends more than a century of legal precedent. 0:04:45.720 --> 0:04:49.680 The case Trump versus Barbara tests a long settled interpretation 0:04:49.839 --> 0:04:53.800 of the Constitution that has governed citizenship for generations. The 0:04:53.839 --> 0:04:57.920 ACLU arguing that the executive order violates the Fourteenth Amendment, 0:04:58.200 --> 0:05:03.080 the Trump administration arguing that jurisdiction refers to political allegiance. 0:05:03.360 --> 0:05:05.960 A final decision by the Supreme Court is expected in 0:05:06.040 --> 0:05:10.039 late June or early July in Washington, Amy Morris, Bloomberg Radio. 0:05:10.240 --> 0:05:13.400 Thanks Amy. President Trump says he will attend those Supreme 0:05:13.440 --> 0:05:16.600 Court hearings this morning. In another development, the President has 0:05:16.640 --> 0:05:19.120 signed an executive order intended to make it harder for 0:05:19.240 --> 0:05:22.040 voters to cast mail in ballots. That's a practice used 0:05:22.040 --> 0:05:25.560 by millions of Americans. The order requires a Homeland Security 0:05:25.600 --> 0:05:28.960 Secretary to prepare a list of US citizens eligible to 0:05:29.040 --> 0:05:31.880 vote in each state, and the Postal Service to only 0:05:31.920 --> 0:05:35.080 send absentee ballots to voters on the approved list. 0:05:35.520 --> 0:05:38.560 The cheating on mail in voting is legendary. 0:05:38.640 --> 0:05:43.359 It's horrible what's gone on, and it's very clearly covered, 0:05:44.040 --> 0:05:44.840 very very clearly. 0:05:44.920 --> 0:05:48.480 So I think this will help a lot with elections. 0:05:48.520 --> 0:05:51.440 We'd like to have voter ID, we'd like to have proof. 0:05:51.160 --> 0:05:54.320 Of citizenship, and that'll be another subject for another time. 0:05:54.440 --> 0:05:57.080 The move is likely to draw legal challenges, with legal 0:05:57.120 --> 0:06:00.560 experts saying President Trump has virtually no authority to outlaw 0:06:00.640 --> 0:06:03.520 voting by mail himself without a change in law. 0:06:03.600 --> 0:06:05.120 Well, here's a move we haven't seen in more than 0:06:05.160 --> 0:06:08.920 a half century. Alexis NASA is preparing to send astronauts 0:06:08.960 --> 0:06:12.360 on a journey around the Moon. The Artemis two mission 0:06:12.640 --> 0:06:15.520 will send four astronauts on a trip to the Moon 0:06:15.560 --> 0:06:18.320 and back. If successful, it'll help clear the way for 0:06:18.640 --> 0:06:22.120 astronauts to walk on the Moon again maybe two years time. 0:06:22.480 --> 0:06:25.480 Bloomberg's Ed Ludlaw is in Florida for the launch. 0:06:25.920 --> 0:06:28.840 This is the great next step in America's ambition to 0:06:29.400 --> 0:06:32.720 have humans back on the Moon. In this mission, Optomist too, 0:06:33.240 --> 0:06:36.039 they're basically doing a fly by or a fly around 0:06:36.080 --> 0:06:40.039 the Moon, so they travel deep into space two hundred 0:06:40.080 --> 0:06:43.400 and eighty five thousand miles, go around the Moon and 0:06:43.440 --> 0:06:46.080 come back. But it's you know, it's the great dress 0:06:46.120 --> 0:06:52.720 rehearsal for the technology essentially that's planned to get humankind 0:06:53.080 --> 0:06:56.760 and driven by NASA America back to the Moon maybe 0:06:56.880 --> 0:06:57.760 twenty twenty eight. 0:06:57.800 --> 0:07:01.080 Bloomberg S Ed Ludlow notes, the launch window opens tonight 0:07:01.120 --> 0:07:04.400 at six twenty four Wall Street time. We will have 0:07:04.560 --> 0:07:08.080 live coverage of liftoff right here on Bloomberg Radio. 0:07:08.160 --> 0:07:10.920 All right, very exciting. Now back here on Earth, specifically 0:07:11.040 --> 0:07:13.800 Wall Street shares of Nike. They are plunging this morning, 0:07:13.800 --> 0:07:17.080 more than nine percent. The retailer gave a surprisingly gloomy 0:07:17.120 --> 0:07:20.400 outlook for the year ahead. Nike's facing headwinds around the globe, 0:07:20.440 --> 0:07:23.320 including elevated inventories in Europe and the Middle East and 0:07:23.440 --> 0:07:24.880 traffic disruption from the war. 0:07:25.080 --> 0:07:28.960 Well, open AI's valuation keeps going up like a rocket Alexis. 0:07:28.960 --> 0:07:31.080 It now stands at eight hundred and fifty two billion 0:07:31.200 --> 0:07:34.360 dollars after the chat GPT maker completed a deal to 0:07:34.440 --> 0:07:37.520 raise one hundred and twenty two billion from investors. The 0:07:37.520 --> 0:07:42.000 bulk of the financing came from three big tech companies, Amazon, Nvidia, 0:07:42.160 --> 0:07:42.960 and SoftBank. 0:07:43.520 --> 0:07:47.800 And Anthropic inadvertently released source code for its popular claud 0:07:47.920 --> 0:07:51.000 Ai agent. The leak of basic source code, the second 0:07:51.040 --> 0:07:53.680 slip up in just a week, triggered a discussion in 0:07:53.720 --> 0:07:57.000 the community around new revelations of how Anthropic's popular coding 0:07:57.040 --> 0:08:00.760 agent works. Several experts are also raising concern about potential 0:08:00.800 --> 0:08:04.600 security vulnerabilities and light of the unintended exposure. 0:08:04.240 --> 0:08:06.960 And a programming not Alexis. Markets may close on Fridays, 0:08:06.960 --> 0:08:09.560 but the world does not. And that's why we're bringing 0:08:09.600 --> 0:08:12.040 you a live radio and TV show. It's brand new, 0:08:12.080 --> 0:08:15.240 and it's called Bloomberg. This weekend looks beyond the daily 0:08:15.240 --> 0:08:18.560 headlines to focus on the bigger themes driving politics, business 0:08:18.560 --> 0:08:22.120 and culture. So join David Gura, Christina Raffini, and Lisa 0:08:22.160 --> 0:08:25.240 Matteo for smart conversations and in depth interviews that help 0:08:25.320 --> 0:08:28.120 make sense of the week that's been and what comes next. 0:08:28.160 --> 0:08:31.640 Get Bloomberg This Weekend Live Saturdays and Sundays from seven 0:08:31.680 --> 0:08:36.480 am Eastern on Bloomberg Radio TV and the Bloomberg Business app. 0:08:38.480 --> 0:08:40.280 Five ten on Wall Street Time Now for a look 0:08:40.280 --> 0:08:41.960 at some of the other stories making news in New 0:08:42.040 --> 0:08:44.320 York and around the world. For that, we're joined by Bloomberg' 0:08:44.360 --> 0:08:46.160 John Tucker. Good Morning, John, Good Morning. 0:08:46.200 --> 0:08:48.959 A linsis the federal judge who's ordered the Trump administration 0:08:49.080 --> 0:08:52.400 to suspend construction of the four hundred million dollar East 0:08:52.400 --> 0:08:55.680 Wing Ballroom. Let's get the tales this morning from Bloomberg's 0:08:55.679 --> 0:08:56.360 Monica Rix. 0:08:56.960 --> 0:09:00.640 US District Judge Richard Leon in Washington granted a reservationist 0:09:00.720 --> 0:09:04.000 group's requests for a preliminary injunction to halt the project. 0:09:04.360 --> 0:09:07.480 He concluded that the National Trust for Historic Preservation is 0:09:07.679 --> 0:09:10.200 likely to succeed on the merits of its claims because 0:09:10.200 --> 0:09:13.040 no statue comes close to giving the President the authority 0:09:13.040 --> 0:09:16.320 he claims to have. The Republican nominated judge said in 0:09:16.400 --> 0:09:18.920 his order, the President of the United States is the 0:09:18.960 --> 0:09:22.120 steward of the White House, not the owner. Crews have 0:09:22.160 --> 0:09:25.440 long since torn down the East Wing, radically transforming the 0:09:25.480 --> 0:09:29.679 look and feel of the historic grounds. Monica Ricks Bloomberg Radio. 0:09:29.920 --> 0:09:33.320 In another case a win for public broadcasting, a federal 0:09:33.320 --> 0:09:37.640 court ruled President Trump's anti media funding executive order is unlawful, 0:09:38.000 --> 0:09:41.400 the court granting a permanent injunction for the government implementing 0:09:41.480 --> 0:09:45.280 or enforcing the executive orders instructions to cease funding for 0:09:45.440 --> 0:09:49.760 National Public Radio and PBS. Judge Randolph Moss wrote the 0:09:49.800 --> 0:09:53.520 president can't use governmental power to direct federal agencies to 0:09:53.640 --> 0:09:56.960 bar grants in retaliation if the saying things he does 0:09:57.120 --> 0:10:00.480 not like. The First Amendment, he said, doesn't tolerate viewpoint 0:10:00.480 --> 0:10:05.520 discrimination and retaliation. Governors of six New England states backing 0:10:05.600 --> 0:10:12.240 their regional commitment to explore advanced nuclear technologies. Governors of Massachusetts, Connecticut, Maine, 0:10:12.280 --> 0:10:14.679 Rhode Island, New Hampshire, and Vermont have signed into a 0:10:14.720 --> 0:10:19.040 statement to explore steps to deploy advanced nuclear generation. Connecticut 0:10:19.120 --> 0:10:22.880 Governor Ned Lahmann site data showing electricity consumption in New England, 0:10:23.040 --> 0:10:26.160 who's expected to increase more than forty percent in the 0:10:26.200 --> 0:10:29.640 next twenty years, and the Department of Agriculture will lead 0:10:29.679 --> 0:10:32.800 dozens of American farm companies to the Philippines. It's a 0:10:32.840 --> 0:10:36.320 trade mission this month aiming to expand access to the 0:10:36.360 --> 0:10:40.160 Southeast Asian nation. The US is seeking to expand agricultural 0:10:40.200 --> 0:10:44.280 trade ties with the Philippines, a key defense ally in Asia. 0:10:44.400 --> 0:10:46.480 Global News twenty four hours a day and whenever you 0:10:46.480 --> 0:10:49.440 wanted with Bloomberg News. Now, I'm John Tucker. This is 0:10:49.480 --> 0:10:51.040 Bloomberg Alexis all. 0:10:51.200 --> 0:10:53.960 Thanks John. Time now for our Bloomberg Sports update, and 0:10:54.000 --> 0:10:55.680 for that we bring in John stash Hour. 0:10:55.840 --> 0:10:57.800 We've learned of four names that are going to the 0:10:57.840 --> 0:11:01.120 Basketball Hall of Fame, longtime NBA coach Doc Rivers, ex 0:11:01.240 --> 0:11:05.120 Nick and Phoenix Son, Amari Stodemeyer and Candice Parter and 0:11:05.160 --> 0:11:08.800 Elena Deladon, who starred in the WNBA. Tiger Woods put 0:11:08.800 --> 0:11:11.200 out a statement saying he's stepping away from golf to 0:11:11.240 --> 0:11:14.080 seek treatment and focus on his health. It comes four 0:11:14.160 --> 0:11:16.840 days after his latest car accident. Tiger hasn't been in 0:11:16.880 --> 0:11:19.200 a PG event almost two years, but he had not 0:11:19.320 --> 0:11:22.959 ruled out playing the upcoming Masters. That's your Bloomberg Sports Update. 0:11:24.400 --> 0:11:27.880 Stay with us. More from Bloomberg Daybreak coming up after. 0:11:27.600 --> 0:11:35.880 This Coast to coast on Bloomberg Radio, nationwide on Serious 0:11:35.960 --> 0:11:39.320 Exam and around the world on Bloomberg dot Com and 0:11:39.360 --> 0:11:42.559 the Bloomberg Business Oppum. This is Bloomberg Daybreak. 0:11:42.720 --> 0:11:45.880 Good morning on Nathan Hager. Two weeks, maybe three. That's 0:11:45.920 --> 0:11:48.080 the new timeline that President Trump has set out for 0:11:48.080 --> 0:11:50.720 the US to end it's war with Iran after nearly 0:11:50.760 --> 0:11:53.800 five weeks of conflict. More than five weeks, President says 0:11:53.800 --> 0:11:57.040 he has largely achieved his goal of ensuring Tehran never 0:11:57.080 --> 0:11:58.560 attains a nuclear weapon. 0:11:59.080 --> 0:12:02.520 We've had Rashim change. We're dealing with people that are 0:12:02.800 --> 0:12:07.880 much more rational, and it's amazing what we've done. 0:12:08.360 --> 0:12:11.080 President Trump and Oval Office remarks heard live on Bloomberg 0:12:11.160 --> 0:12:13.720 Radio and joining us from Dubai once again this morning 0:12:13.760 --> 0:12:17.000 is Bloomberg Middle East correspondent Jumana Borsecci, the anchor of 0:12:17.000 --> 0:12:21.080 Bloomberg Horizons. Jumana, good morning. We've heard the President say 0:12:21.120 --> 0:12:24.600 that the US has largely achieved its goals. It raises 0:12:24.640 --> 0:12:27.800 the question whether it has good morning. 0:12:28.720 --> 0:12:32.280 Good morning, yes. So market's certainly reacting to the comments 0:12:32.320 --> 0:12:35.760 coming through from President Trump. Last night, suggesting that there 0:12:35.800 --> 0:12:38.880 is a timeframe after which they would start to wind 0:12:38.880 --> 0:12:42.160 down their military operations. So he's suggesting two to three 0:12:42.200 --> 0:12:44.760 weeks is how much longer they anticipate it's going to 0:12:44.800 --> 0:12:48.160 take for them to fully achieve these military objectives. He 0:12:48.520 --> 0:12:52.079 also said that the main objective, which is ensuring that 0:12:52.120 --> 0:12:54.920 Iran doesn't go on to develop a nuclear weapon, has 0:12:55.000 --> 0:12:59.000 largely been achieved as well. And I think you know 0:12:59.040 --> 0:13:01.439 one other thing that really stood out from his comments 0:13:01.480 --> 0:13:07.320 yesterday is there was no linkage whatsoever between there perhaps 0:13:07.320 --> 0:13:10.800 anticipation that they're going to be winding down military operations 0:13:10.840 --> 0:13:13.560 in the next few weeks versus a reopening of the 0:13:13.559 --> 0:13:16.440 Strait of hormones, and he seemed to suggest that that 0:13:16.559 --> 0:13:20.000 is going to be or become a broader global issue 0:13:20.040 --> 0:13:25.080 as opposed to an issue or a term that the 0:13:25.200 --> 0:13:28.040 US will insist on should Iran actually come to the 0:13:28.080 --> 0:13:31.560 negotiating table. So we've sort of delinked in the last 0:13:31.559 --> 0:13:35.199 twenty four hours the fate of the Strait from the 0:13:35.240 --> 0:13:38.320 military operations that the US and Israel are conducting in Iran. 0:13:38.760 --> 0:13:41.520 It speaks to fresh comments that we've heard from President 0:13:41.600 --> 0:13:44.240 Trump in an interview just this morning with the UK's 0:13:44.320 --> 0:13:47.560 Telegraph newspaper some of his strongest comments yet, saying that 0:13:47.600 --> 0:13:54.199 he's strongly considering leaving NATO as well saying it's beyond consideration. 0:13:54.640 --> 0:13:58.200 These are pretty forceful words from the President this morning. 0:13:59.480 --> 0:14:03.120 Yep, that's right. He said he was disappointed in NATO, 0:14:03.280 --> 0:14:06.280 that this was a test for NATO. They're going to 0:14:06.360 --> 0:14:10.720 remember that they didn't stand that well, he will remember 0:14:10.800 --> 0:14:14.400 that NATO didn't stand by the US. But I think 0:14:14.440 --> 0:14:17.640 he's referring to the fact that several European nations have 0:14:17.920 --> 0:14:22.800 said that the US will cannot be using there's some 0:14:22.840 --> 0:14:25.600 of their air bases, the likes of Italy and Spain. 0:14:26.560 --> 0:14:29.240 But at the same time, you know what many of 0:14:29.240 --> 0:14:33.320 these European countries have said is they would look perhaps 0:14:33.400 --> 0:14:38.120 to be part of a coalition to secure safe passage 0:14:38.120 --> 0:14:41.520 in the Strait. But once the risk of vessels calms down, 0:14:41.560 --> 0:14:44.480 and once there is sort of a de escalation in 0:14:44.560 --> 0:14:48.320 terms of the ongoing military strikes and military attacks that 0:14:48.320 --> 0:14:50.920 are going that are taking place in the region. So 0:14:51.160 --> 0:14:54.160 it's not as though they've completely ruled it out. And 0:14:54.160 --> 0:14:57.360 in fact, Mark Ruta, who enjoys a good relationship with 0:14:57.400 --> 0:15:01.520 President Trump did suggest last week they're working on some 0:15:01.760 --> 0:15:08.200 form of a multilateral, multinational solution or coalition vis a 0:15:08.280 --> 0:15:12.680 vis the Strait, but asking NATAL members and asking European 0:15:12.720 --> 0:15:16.680 allies to get involved militarily in the war is deemed 0:15:16.680 --> 0:15:18.480 to be one step too far for them because it's 0:15:18.520 --> 0:15:20.600 not a war that they started. 0:15:20.920 --> 0:15:23.960 And you have to wonder whether that kind of effort 0:15:24.000 --> 0:15:26.680 to secure the Strait could fit into the President's two 0:15:26.720 --> 0:15:30.800 to three week window when we continue to see Iran 0:15:31.080 --> 0:15:34.040 carrying out drone and missile attacks across the Middle East 0:15:34.040 --> 0:15:34.840 even this morning. 0:15:36.240 --> 0:15:39.680 Yeah, I think one of the big questions that still 0:15:39.680 --> 0:15:43.000 remains unanswered coming out of President Trump's comments yesterday is 0:15:43.120 --> 0:15:48.280 what this means for number one, ongoing Israel Israeli operations 0:15:48.320 --> 0:15:51.640 as well. There has been it once again, an intensification 0:15:51.720 --> 0:15:54.640 of attacks and counter attacks in the last forty eight hours. 0:15:55.480 --> 0:15:59.320 And the second question is whether Iran would actually seize 0:15:59.360 --> 0:16:03.880 those attacks on the Gulf States, So whether in this 0:16:04.000 --> 0:16:08.240 case US protection or US security guarantees are still going 0:16:08.240 --> 0:16:10.440 to be valid for some of those key Golf allies 0:16:10.480 --> 0:16:12.840 in the region as well. So a lot of question 0:16:12.920 --> 0:16:15.000 marks still. And then the other thing that I would 0:16:15.040 --> 0:16:19.960 just remind people is there has been a significant amount 0:16:19.960 --> 0:16:22.320 of troop deployment to the region. We spoke about this 0:16:22.360 --> 0:16:25.840 earlier this week. The first marine expeditionary unit arrived on Friday, 0:16:26.560 --> 0:16:30.120 Bloomberg reporting overnight that another aircraft carrier is also making 0:16:30.120 --> 0:16:32.320 its way from California to the region as well. They're 0:16:32.360 --> 0:16:35.240 expected to arrive in another two to three weeks. And 0:16:35.320 --> 0:16:39.720 so you've got to think that the reason there is 0:16:39.760 --> 0:16:44.160 a reason for this additional military armada being deployed to 0:16:44.200 --> 0:16:46.840 the region, if they're not going to use it, then 0:16:47.080 --> 0:16:49.560 is it for deterrence? And if it is for deterrence, 0:16:50.000 --> 0:16:52.800 does that also benefit the Golf States as well? 0:16:53.040 --> 0:16:57.040 And if the idea is that the objective of preventing 0:16:57.080 --> 0:17:00.600 Iran from ever obtaining a nuclear weapon is large achieved, 0:17:00.600 --> 0:17:05.119 the President hasn't said that it has definitively been achieved yet. 0:17:05.440 --> 0:17:09.359 Could we see a possible ground action to try to 0:17:09.440 --> 0:17:13.320 seize Iran's uranium That's something that's been spoken about as well. 0:17:13.880 --> 0:17:16.479 Absolutely, and it didn't come up at all yesterday. There 0:17:16.520 --> 0:17:19.639 was no mention at all of that enriched uranium stockpile. 0:17:19.760 --> 0:17:23.200 And Iran is thought to be sitting on a stockpile 0:17:23.240 --> 0:17:25.919 of north of one thousand pounds or four hundred kilograms 0:17:26.480 --> 0:17:31.119 worth of this enriched uranium, and earlier reportings seemed to 0:17:31.119 --> 0:17:34.639 suggest that if there were going to be a targeted 0:17:34.720 --> 0:17:37.520 raid conducted by some of these new troops being deployed 0:17:37.520 --> 0:17:39.919 to the region, one of the options would be to 0:17:39.960 --> 0:17:43.240 send them inland to find to somehow be able to 0:17:43.320 --> 0:17:48.400 extract this enriched uranium stockpile. Obviously a very risky operation 0:17:48.520 --> 0:17:53.320 to undertake, but the fate as well of that enriched uranium, 0:17:53.560 --> 0:17:55.720 I think is one that is going to hang over 0:17:57.560 --> 0:18:00.520 the world over the next couple of weeks because it 0:18:00.560 --> 0:18:03.119 all goes back to the premise from this war at 0:18:03.119 --> 0:18:08.240 the very outset. You know, the whole objective, what Trump says, 0:18:08.400 --> 0:18:11.760 is to ensure that the Irans don't go on to 0:18:11.800 --> 0:18:14.840 develop a nuclear weapon. And so if they're still sitting 0:18:15.400 --> 0:18:19.160 on this one thousand pounds worth of enriched uranium, how 0:18:19.240 --> 0:18:21.840 is that pushing out the threats of their ability to 0:18:21.880 --> 0:18:23.840 develop a nuclear weapons. So this is one of the 0:18:23.920 --> 0:18:25.879 questions that's going to have to be resolved. 0:18:25.520 --> 0:18:28.720 I think one of many questions still to be resolved. 0:18:28.720 --> 0:18:30.560 Thank you for this, Jumana. We'll be checking back with 0:18:30.600 --> 0:18:33.000 you throughout the morning. That is Jumana Bursecci the inkor 0:18:33.000 --> 0:18:37.720 of Bloomberg Horizons with us this morning, once again from Dubai, Alexis. 0:18:37.280 --> 0:18:40.479 Thanks Nathan and recapping some of our top stories this morning. 0:18:40.720 --> 0:18:43.919 Stocks are rallying, Crude oil is sinking on optimism the 0:18:43.920 --> 0:18:46.800 war could end soon. The S and P five hundred 0:18:46.800 --> 0:18:49.760 so its biggest one day gain since last May. Yesterday, 0:18:49.800 --> 0:18:52.840 on President Trump's talk of leaving the war, President Trump 0:18:52.880 --> 0:18:54.800 plans to be in the court room as a Supreme 0:18:54.800 --> 0:18:58.080 Court takes up his bid and birthright citizenship arguments on 0:18:58.119 --> 0:19:00.960 the President's executive order are set for ten am Wall 0:19:01.000 --> 0:19:04.200 Street time, and the countdown is on for NASA's first 0:19:04.280 --> 0:19:07.159 manned moon mission in more than half a century. If 0:19:07.200 --> 0:19:09.480 all goes well, lift off for the ten day fly 0:19:09.600 --> 0:19:12.080 by for Artemis two is set for six twenty four 0:19:12.119 --> 0:19:15.199 this evening from Cape Canavil, Florida. More on those stories 0:19:15.240 --> 0:19:17.680 coming up on Bloomberg Daybreak, Nathan. 0:19:17.560 --> 0:19:20.200 Okay, Alexis, thank you for a five twenty two Now 0:19:20.280 --> 0:19:22.120 on Wall Street, we want to take a broader look 0:19:22.160 --> 0:19:24.720 at the market impact from this more than a month 0:19:24.800 --> 0:19:27.760 of war with Iran and the prospect of a resolution 0:19:28.200 --> 0:19:31.360 if we do see the US stick to the president's 0:19:31.560 --> 0:19:34.720 new timeframe of two to three weeks to end the conflict. 0:19:34.800 --> 0:19:38.280 Joining us now is Jane Foley, head of FX Strategy 0:19:38.760 --> 0:19:41.840 at Rabobank. Great to speak with you this morning, Jane. 0:19:41.880 --> 0:19:46.760 Of course, we've seen the dollar really perform as a 0:19:46.800 --> 0:19:50.840 big hedge during this conflict of flight to cash. What's 0:19:50.880 --> 0:19:54.359 the impact if we do see a quick resolution to 0:19:54.480 --> 0:19:55.080 this conflict? 0:19:55.119 --> 0:19:58.800 Good morning, Good morning, it's a pleasure to be here. Well, 0:19:59.040 --> 0:20:00.960 of course you've already seen it. Taste of that. Today 0:20:01.000 --> 0:20:04.480 the market is all about optimism. Today. It's really focusing 0:20:04.560 --> 0:20:10.680 on that two to three week timeline President Trump was 0:20:10.720 --> 0:20:13.760 talking about yesterday, and that of course means that it's 0:20:13.760 --> 0:20:15.960 been ignoring or all of those other factors that in 0:20:16.000 --> 0:20:20.199 mine has just been talking about, the Uranian and the 0:20:20.280 --> 0:20:23.560 rich Uranian for instance, around stockpiles, of that, the fact 0:20:23.640 --> 0:20:27.400 that there's already or still overnight and yesterday a lot 0:20:27.440 --> 0:20:33.560 of missiles in both directions, and so from that point 0:20:33.560 --> 0:20:35.960 of view, today is optimism. But we don't know for 0:20:36.040 --> 0:20:38.920 sure whether or not that's going to be the tone 0:20:38.920 --> 0:20:41.280 that the market will be adopting, you know, through next 0:20:41.280 --> 0:20:43.600 week or the week after for that, But as it 0:20:43.680 --> 0:20:47.680 stands that the dollar really has backtracked today, we've seen 0:20:47.960 --> 0:20:52.520 at the US dollar underperforming all other JTA currencies today, 0:20:52.560 --> 0:20:55.879 which is really in reflection of the optimism that's also 0:20:56.080 --> 0:20:59.520 been pushed through into stock markets and bomb markets too. 0:21:00.200 --> 0:21:05.080 Do you see certain currencies benefiting more from an early 0:21:05.119 --> 0:21:07.159 exit by the US. 0:21:08.200 --> 0:21:10.840 You know, it's difficult to see that if you look 0:21:10.880 --> 0:21:13.119 at the ones that have been the best performers today. 0:21:13.400 --> 0:21:16.840 But what we have noticed, you know, over the last month, 0:21:17.480 --> 0:21:20.640 is that aside from the theme of the dollar being 0:21:20.680 --> 0:21:24.359 the safe haven of choice, the next theme that really 0:21:24.480 --> 0:21:28.680 has pushed around FX rates has been this theme of well, 0:21:28.680 --> 0:21:31.439 which central banks are going to be hiking the most, 0:21:32.000 --> 0:21:35.359 and that leaves Sterling, you know, sort of next best 0:21:35.359 --> 0:21:37.720 at the top of the G ten par because just 0:21:38.000 --> 0:21:40.000 you know, six weeks or so ago, the market was 0:21:40.000 --> 0:21:42.800 anticipating that the Bank of Veno could be cutting interest 0:21:42.840 --> 0:21:45.440