WEBVTT - Israel Reportedly Strikes Iran; Military Aid Vote

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager.

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<v Speaker 1>And I'm Karen Moscow. Here are the stories we're following today.

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<v Speaker 3>Karon, we begin with tensions in the Middle East. US

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<v Speaker 3>officials say Israel has launched a retaliatory strike on Iran,

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<v Speaker 3>less than a week after Tehran's rocket and drone barrage.

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<v Speaker 3>Bloomberg News Middle East Breaking News editor Dana Krasch has

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<v Speaker 3>the latest on what we know so far.

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<v Speaker 4>Reports trickled in in the early hours of the morning

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<v Speaker 4>of a blast over Isfahan, where we know there are

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<v Speaker 4>military sites and nuclear infrastructure, so the blasts are likely

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<v Speaker 4>the result of what Iranian media is saying is defense

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<v Speaker 4>systems activated to intercept what has now we know our drones.

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<v Speaker 4>We also had a report out that the nuclear site

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<v Speaker 4>there is completely safe, and that's of course reassuring, as

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<v Speaker 4>Iran and Israel are arch rivals, but they also have nuclear.

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<v Speaker 3>Pro Bloomberg's Danikrace says Iranian state media are downplaying the attack.

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<v Speaker 3>Reuter's sites in Iranian officials saying there was no missile

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<v Speaker 3>strike and that Iran is not planning a response at

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<v Speaker 3>this time.

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<v Speaker 1>Well, Nathan Markets remain on edge on these Middle East tensions.

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<v Speaker 1>City Group Global Chief Economist Nathan Sheet says investors tend

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<v Speaker 1>to overreact to events initially before settling down.

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<v Speaker 5>I think at the moment, the market's telling us that

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<v Speaker 5>the balance of risks here looks to be reasonably favorable

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<v Speaker 5>and the response in the oil market has been contained,

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<v Speaker 5>And if that's the correct assessment, then I think the

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<v Speaker 5>broader implications of this are it doesn't escalate, and we're

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<v Speaker 5>able to continue on more or less in the status quo.

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<v Speaker 1>City Group Global Chief Economist Nathan Sheets, speaking to us

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<v Speaker 1>earlier on Bloomberg and checking oil right now, NIMEC screwed

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<v Speaker 1>up sixtensive percent at eighty three dollars twenty one cents

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<v Speaker 1>a barrel, while Brent is at eighty seven thirty six cents.

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<v Speaker 3>And caring these tensions could give even more of a

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<v Speaker 3>push to long stalled aid for Israel, Ukraine and Taiwan.

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<v Speaker 3>On Capitol Hill, Bloomberg's Ed Baxter reports that package is

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<v Speaker 3>on track for votes this weekend.

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<v Speaker 6>House Speaker Mike Johnson says he expects to bring up

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<v Speaker 6>split Ukraine, Israel Taiwan aid bills tomorrow. The chair of

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<v Speaker 6>the House Intelligence Committee Mike Turner on Bloomberg's Balance of Power,

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<v Speaker 6>says he thinks it is essential to get aid going

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<v Speaker 6>to Ukraine this week.

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<v Speaker 7>They running out of ammunition. Russia is certainly surging and

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<v Speaker 7>putting additional pressure on the front line, and also the

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<v Speaker 7>lack of US support is impacting morale even in Ukraine.

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<v Speaker 6>House Minority Leader Hakim Jeffrey says Democrats are going to

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<v Speaker 6>do what's necessary to get this across the finish line.

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<v Speaker 6>The Senate looks to move next week. Ad Baxter, Bloomberg Radio.

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<v Speaker 1>All right, ed, thanks now to the latest in a

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<v Speaker 1>criminal case against Donald Trump. The jury has been seated

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<v Speaker 1>in Manhattan and Bloomberg's doing Groscer reports from New.

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<v Speaker 8>York jurors and one alternate juror have been sworn in

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<v Speaker 8>in Trump's hush money trial. The jury of manhattanites includes

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<v Speaker 8>a sales professional, a software engineer, a security engineer, a teacher,

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<v Speaker 8>a speech therapist, an investment banker, a retired wealth manager,

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<v Speaker 8>and several lawyers the trial. Judd says he hopes to

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<v Speaker 8>have jury selection wrapped up today and opening statements on Monday.

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<v Speaker 6>In New York.

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<v Speaker 8>June Grosso Boomberg Radio.

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<v Speaker 9>Okay, June.

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<v Speaker 3>Thank you. Now, we want to turn back to markets.

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<v Speaker 3>We're watching shares of Netflix this morning. They are down

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<v Speaker 3>more than six percent in early trading. Subscriber growth for

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<v Speaker 3>the streaming giant did surpass estimates, but the company says

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<v Speaker 3>those gains will be lower this period. Bloombergs Lucas Shaw

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<v Speaker 3>is in Los Angeles. He says optimism for Netflix's first

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<v Speaker 3>quarter had soared in recent days.

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<v Speaker 10>Expectations for this company were really high. I mean, you

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<v Speaker 10>saw a lot of analysts publishing optimistic notes leading up

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<v Speaker 10>to it. The stock has been on a tear over

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<v Speaker 10>the last few months, and so I think there's almost

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<v Speaker 10>no way that it was going to live up to that.

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<v Speaker 10>You know, you see the results that it basically doubled

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<v Speaker 10>the subscriber estimates.

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<v Speaker 11>That's pretty strong.

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<v Speaker 10>So I'd say one is just expectations and the other

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<v Speaker 10>is maybe that there was some sensitivity around the forecast.

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<v Speaker 10>You know, the revenue forecast is actually pretty strong. It's

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<v Speaker 10>going to grow faster than it did in the first quarter,

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<v Speaker 10>but it's said its subscriber growth would tick down a

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<v Speaker 10>bit in the second quarter.

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<v Speaker 3>Bloomberg's Lucas Shaw says Netflix will stop reporting paid quarterly

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<v Speaker 3>membership and revenue per subscribers starting with the first quarter

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<v Speaker 3>of twenty twenty five.

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<v Speaker 11>Well, Nathan.

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<v Speaker 1>The pushback continues from Fed officials on cutting rates too soon.

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<v Speaker 1>New York Fed President John Williams says economic data will

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<v Speaker 1>determine the timing. He was asked about the possibility of

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<v Speaker 1>raising rates.

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<v Speaker 12>It's not my baseline, my expectation right now. It's you know,

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<v Speaker 12>interest rates are in a good place, and eventually at

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<v Speaker 12>some point would want to lower interest rates as the

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<v Speaker 12>economy really gets to the two percent inflation that we're

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<v Speaker 12>headed towards. If the data are telling us that we

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<v Speaker 12>would need higher interest rates to achieve our goals, then

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<v Speaker 12>we would we would obviously.

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<v Speaker 9>Want to do that.

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<v Speaker 1>New York Fed President John Williams comments, We're echoed by

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<v Speaker 1>other Fed officials. Atlanta FED President Raphael Bostak says he's

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<v Speaker 1>comfortable keeping rates. Study Minneapolis president Neil Kashkari told Fox

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<v Speaker 1>that Fed could keep rates where they are all year.

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<v Speaker 3>Karen, let's turn back to some corporate news now. Paramount

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<v Speaker 3>Global could be getting a new buy outlook from Sony

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<v Speaker 3>and Apollo Global Management. We get more on that from

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<v Speaker 3>Bloomberg's Doug Prisner.

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<v Speaker 13>We're told in the last week, the head of Sony

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<v Speaker 13>Pictures Entertainment, Tony Vince Aquera, held talks with Apollo about

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<v Speaker 13>teaming up on a bid. The New York Times says

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<v Speaker 13>the group would offer cash for shares in Paramount, taking

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<v Speaker 13>the company private through a joint venture. Now Sony and

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<v Speaker 13>Apollo have not submitted an official offer. Paramount is controlled

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<v Speaker 13>by Sherry Redstone through a family business called National Amusements,

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<v Speaker 13>and at present, Paramount is an exclusive merger talks with

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<v Speaker 13>Skydance Media and Independent. Members of Paramount's board are weighing

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<v Speaker 13>the sky Dance proposal. In New York, I'm Doug Prisoner,

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<v Speaker 13>Bloomberg Radio.

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<v Speaker 3>All right, Doug, Thanks, and shares of Paramount Global are

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<v Speaker 3>hired by more than ten and a half percent in

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<v Speaker 3>early trading well.

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<v Speaker 1>Apple has removed some social media services from its Chinese

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<v Speaker 1>app store Nathan, including Metas, WhatsApp and threads thous, in

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<v Speaker 1>response to orders from Beijing to close more loopholes in

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<v Speaker 1>the country's long standing Internet firewall. Apple has consistently complied

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<v Speaker 1>with one of the world's most rigid internet censorship regimes.

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<v Speaker 1>It says the Cyberspace Administration of China order the apps

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<v Speaker 1>removed over national security concerns. And it's time now for

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<v Speaker 1>a look at some of the other stories making news

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<v Speaker 1>in New York and around the world. And for that

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<v Speaker 1>we're joined by Bloomberg's John Tucker. John Good Morning, Good Morning, Karen.

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<v Speaker 14>New York City police have removed a pro Palestinian protest

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<v Speaker 14>encampment at Columbia University, arresting more than one hundred demonstrators

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<v Speaker 14>in the process. Mayor Adams says the city was asked

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<v Speaker 14>in writing by university officials to remove the encampment.

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<v Speaker 15>Klun University's students have a proud history of protests in

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<v Speaker 15>raising their voices. Students have a right to free speech,

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<v Speaker 15>but do not have a right to violate Universe city

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<v Speaker 15>policies and disrupt learning on campus.

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<v Speaker 14>The students have been protesting since early Wednesday opposing Israeli

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<v Speaker 14>military action in Ganza. The Biden administration today finalizing a

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<v Speaker 14>plant to prevent oil development across more than half the

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<v Speaker 14>US government's Mammoth Petroleum Reserve in Alaska. The story from

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<v Speaker 14>Washington and Bloomberg Steve Hotisk.

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<v Speaker 16>This move is among a string of actions by President

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<v Speaker 16>Biden to kurktailed development on federal lands and wall off

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<v Speaker 16>more than forty one million acres for conservation. It comes

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<v Speaker 16>as Biden seeks to gain support from young climate minded

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<v Speaker 16>voters after disappointing some last year by authorizing Conneco Phillips

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<v Speaker 16>massive Willow oil project. The administration is also moving to

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<v Speaker 16>block road construction essential to opening a copper mine in

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<v Speaker 16>the state. The moves have drawn condemnation from oil, gas

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<v Speaker 16>and mining interests, who said the Biden administration is locking

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<v Speaker 16>up resources essential for fueling America's energy needs today and

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<v Speaker 16>in the future. That includes, they say, critical minerals for

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<v Speaker 16>batteries and other technology in Washington. Steve Potisk Bloomberg.

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<v Speaker 14>Radio Ukraine says at least to eight civilians were killed

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<v Speaker 14>more than twenty injured in a strike in the country

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<v Speaker 14>today after Russia launched another barrage, straining the country's dwindling

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<v Speaker 14>air defenses, and San Francisco is the latest US city

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<v Speaker 14>preparing to receive a pair of pandas from China in

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<v Speaker 14>a continuation of Beijing's famed panda diplomacy. San Francisco mayor

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<v Speaker 14>London Breed announcing the pandalona in Beijing this morning global

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<v Speaker 14>news twenty four hours a day, whenever you want it

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<v Speaker 14>with Bloomberg News Now. I'm John Tucker. This is Bloomberg,

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<v Speaker 14>Karen and Nathan.

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<v Speaker 1>All right, John, thank you, and it's time now for

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<v Speaker 1>the Bloomberg Sports Update with Dan Schwartzman.

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<v Speaker 17>Dan, good morning, Good morning, Karen and Nathan. The final

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<v Speaker 17>two NBA playing games are coming up tonight Chicago. He's

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<v Speaker 17>on the road of the Miami Heat tip off his

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<v Speaker 17>seven o'clock PM. Winner of that will face the Boston

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<v Speaker 17>Celtics in Game one on Sunday. Then later on it's

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<v Speaker 17>the Sacramento Kings at the New Orleans Pelicans. The winner

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<v Speaker 17>of that one will go as the eighth seed in

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<v Speaker 17>the Western Conference at faci Oklahmoma City Thunder also on Sunday.

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<v Speaker 17>The New York Knicks get underway on Saturday as they're

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<v Speaker 17>home for the Philadelphia seventy six Ers in game one

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<v Speaker 17>of their Round one matchup. Sixers head coach Nick Nurse

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<v Speaker 17>talking about the Knicks, I think.

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<v Speaker 18>They're for real. I think they're really good. I think

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<v Speaker 18>they're they're fast. I think they can shoot. I think

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<v Speaker 18>they hit the glass. I think they guard you. I

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<v Speaker 18>think they've earned that seed. They've played really well and

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<v Speaker 18>beaten a lot of good teams, so we'll have our

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<v Speaker 18>work to do here in the next couple of days

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<v Speaker 18>to get ready for him.

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<v Speaker 17>That's courtesy of CBS three in Philadelphia. Light schedule in

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<v Speaker 17>Major League Baseball last night, the Yankees were off the

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<v Speaker 17>Giants shutting out the Diamondbacks five nothing at home. It

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<v Speaker 17>was Red Sox losing a family Park to the Guardians

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<v Speaker 17>five to four. Coming up tonight, the Yankees open up

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<v Speaker 17>a weekend series in the Bronx as they host the

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<v Speaker 17>Tampa Bay Rays. That men's opening up the series on

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<v Speaker 17>the road in Los Angeles. Giants are home again for

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<v Speaker 17>the Diamondbacks. The Red Sox are on the road at

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<v Speaker 17>the Pirates. It's the National hosting the Houston Astros, while

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<v Speaker 17>it's the Baltimore Orioles. They are on the road at

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<v Speaker 17>the Kansas City Royals. The NHL Playoffs gets underway on Saturday,

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<v Speaker 17>as the Islanders open Round one on the road at Carolina.

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<v Speaker 17>It's the Boston Bruins their home for Toronto also on Saturday,

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<v Speaker 17>while the New York Rangers, the winners of the President's

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<v Speaker 17>Cup with the best record in the NHL, they open

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<v Speaker 17>up their series versus the Washington Capitals on Sunday at

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<v Speaker 17>Madison Square Garden. Rangers captain Jacob Truba assessing his team.

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<v Speaker 19>Great lineup, great goaltenders front to back. I think we've

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<v Speaker 19>got a deep lineup and just continue to play our game,

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<v Speaker 19>and we've been good at bouncing back with adversity. There's

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<v Speaker 19>going to be at versity as any times we're momentum swings.

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<v Speaker 19>That's the playoffs.

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<v Speaker 17>That's courtesy of Rangers dot Com. That's your Bloomberg Sports Update.

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<v Speaker 17>I'm Dan Schwarzman, Karen and Nathan.

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<v Speaker 1>All Right, Dan, thank you. SMP futures down half percent

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<v Speaker 1>or twenty five points down, futures down four tenths of

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<v Speaker 1>percent or one hundred and fifty seven points. Nasdaq futures

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<v Speaker 1>down three quarters of a percent or one hundred and

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<v Speaker 1>thirty points. In the ten year Treasury yeled four point

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<v Speaker 1>five eight percent.

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<v Speaker 9>Coast to coast on Bloomberg Radio nationwide on Sirius XM,

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<v Speaker 9>and around the world on Bloomberg dot Com and the

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<v Speaker 9>Bloomberg Business app. This is Bloomberg Daybreak. Good morning. I'm

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<v Speaker 9>Nathan Hager.

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<v Speaker 3>Middle East tensions are once again in the foreground with

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<v Speaker 3>US officials saying Israel has launched a retaliatory strike against Iran,

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<v Speaker 3>less than a week after Tehran's barrage of missiles and

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<v Speaker 3>drones into Israeli territory. For the very latest, we are

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<v Speaker 3>joined now by Bloomberg's Europe, Middle East, and Africa news

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<v Speaker 3>director Rosalind Matheson Roz, Good morning. Can you get us

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<v Speaker 3>up to speed on what we know at this point

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<v Speaker 3>about this reported strike?

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<v Speaker 20>Well, as you were saying, what we know is that

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<v Speaker 20>US officials tell us that we did have this retaliatory

0:11:48.280 --> 0:11:53.040
<v Speaker 20>strike where Israel has launched missiles against Iran. Local media

0:11:53.080 --> 0:11:55.679
<v Speaker 20>reports say they were missiles that were five potentially from

0:11:55.720 --> 0:11:59.160
<v Speaker 20>Israeli planes. These were larger areas in Iran, in the

0:11:59.160 --> 0:12:02.360
<v Speaker 20>west and central of Iran. It's a town called a

0:12:02.400 --> 0:12:07.319
<v Speaker 20>city called Isfahan that's located in a ring of air bases,

0:12:07.360 --> 0:12:11.280
<v Speaker 20>military bases, but also some key nuclear facilities for Iran.

0:12:12.080 --> 0:12:14.760
<v Speaker 20>It seems like the nuclear facilities were not targeted, were

0:12:14.800 --> 0:12:18.000
<v Speaker 20>not hit, and are functioning as normal. But what may

0:12:18.040 --> 0:12:21.000
<v Speaker 20>have been targeted was an airbase in the region, and

0:12:21.040 --> 0:12:24.280
<v Speaker 20>that would obviously be about sending that message in responses

0:12:24.360 --> 0:12:28.840
<v Speaker 20>you say to Iran striking Israel about a week ago

0:12:29.000 --> 0:12:32.240
<v Speaker 20>for the first time from Iranian soil, and so we've

0:12:32.320 --> 0:12:35.800
<v Speaker 20>kind of entered this era of tip for tat retaliation

0:12:35.920 --> 0:12:39.880
<v Speaker 20>reprisals against each other. Both of these actions do seem, however,

0:12:39.960 --> 0:12:45.240
<v Speaker 20>to be somewhat calibrated. They didn't target civilian populations and

0:12:45.280 --> 0:12:48.440
<v Speaker 20>they have not targeted, in this case, Iranian's nuclear facilities.

0:12:48.480 --> 0:12:50.880
<v Speaker 20>So the question is is this enough to keep this

0:12:50.960 --> 0:12:53.719
<v Speaker 20>conflict from simmering over Do they both look at each

0:12:53.720 --> 0:12:56.040
<v Speaker 20>other and say this is not enough to set off

0:12:56.120 --> 0:12:58.720
<v Speaker 20>the regional conflict that markets and others have been fearing

0:12:58.800 --> 0:13:00.800
<v Speaker 20>might happen point rise.

0:13:00.840 --> 0:13:03.520
<v Speaker 3>As you mentioned, Israeli media are saying this was a

0:13:03.520 --> 0:13:06.640
<v Speaker 3>missile strike. We're hearing reports from Iranian state media that

0:13:06.640 --> 0:13:09.600
<v Speaker 3>they're calling it a drone attack and that the explosions

0:13:09.679 --> 0:13:13.800
<v Speaker 3>over the third largest city in Iran, Isfahan, were caused

0:13:13.880 --> 0:13:17.079
<v Speaker 3>by Iran's air defenses. What does that say about how

0:13:17.120 --> 0:13:21.240
<v Speaker 3>this could potentially reduce tensions going forward.

0:13:22.600 --> 0:13:25.199
<v Speaker 20>Well, it's interesting you say, Iran seems quite keen, and

0:13:25.240 --> 0:13:27.920
<v Speaker 20>there's a bit of heaterd rhetoric coming from Iran immediately,

0:13:27.960 --> 0:13:30.880
<v Speaker 20>as you can imagine, but also the sense that they

0:13:30.960 --> 0:13:32.120
<v Speaker 20>don't want to overplay this.

0:13:32.240 --> 0:13:34.880
<v Speaker 11>There's certainly in a way downplaying it on their state media.

0:13:34.960 --> 0:13:38.880
<v Speaker 20>On their broadcasting this morning, they're showing footage of Isfahan,

0:13:39.200 --> 0:13:42.360
<v Speaker 20>of their nuclear site, looking business very much as usual,

0:13:42.400 --> 0:13:45.240
<v Speaker 20>traffic moving along and so such, and they're saying there

0:13:45.280 --> 0:13:48.520
<v Speaker 20>was some drone action, but their air defenses were activated,

0:13:48.640 --> 0:13:52.679
<v Speaker 20>whereas Israeli media say this was actually a missile strike

0:13:53.360 --> 0:13:54.040
<v Speaker 20>from Israel.

0:13:54.280 --> 0:13:55.640
<v Speaker 11>But it does point to that thing.

0:13:55.679 --> 0:13:58.960
<v Speaker 20>As you say, even though we've got strong posturing from

0:13:59.040 --> 0:14:02.480
<v Speaker 20>Israel and Iran all of this, and we've got Iran's

0:14:02.480 --> 0:14:06.720
<v Speaker 20>proxies activated in the region and Israel is basically fighting

0:14:06.720 --> 0:14:09.840
<v Speaker 20>those proxies as well, that everyone knows if this does

0:14:10.120 --> 0:14:12.760
<v Speaker 20>bill into a full bare regional conflict that pulls in

0:14:13.120 --> 0:14:15.760
<v Speaker 20>potentially other actors, potentially the US.

0:14:15.920 --> 0:14:17.520
<v Speaker 11>You know, real impact on things.

0:14:17.400 --> 0:14:20.480
<v Speaker 20>Are all supplied globally that we're kind of moving into

0:14:20.520 --> 0:14:23.240
<v Speaker 20>unprecedented territory then, and even Iran knows that that would

0:14:23.240 --> 0:14:23.960
<v Speaker 20>be self defeating.

0:14:24.720 --> 0:14:27.400
<v Speaker 3>And when we have Iran sort of downplaying this and

0:14:27.560 --> 0:14:31.480
<v Speaker 3>reports from some hawkish officials in Israel, like the National

0:14:31.480 --> 0:14:35.080
<v Speaker 3>Security Minister going on x and describing the attack as weak,

0:14:35.800 --> 0:14:38.200
<v Speaker 3>what does that say about how Israel could go forward

0:14:38.240 --> 0:14:40.560
<v Speaker 3>with this, Well, there is.

0:14:40.520 --> 0:14:43.200
<v Speaker 11>That difficulty, and domestically in Israel.

0:14:43.200 --> 0:14:47.360
<v Speaker 20>I mean the Israeli Prime Minister Bena, who basically made

0:14:47.360 --> 0:14:50.040
<v Speaker 20>a bet, he tied his fortunes to the far right

0:14:50.480 --> 0:14:52.760
<v Speaker 20>in Israel to stay in office, and now he's having

0:14:52.800 --> 0:14:55.680
<v Speaker 20>to deal with the implications of that. And even you know,

0:14:55.800 --> 0:14:58.680
<v Speaker 20>in his war Cabinet, in his ministry, he's got those

0:14:58.720 --> 0:15:02.160
<v Speaker 20>elements who are pushing him, pushing him to take further action,

0:15:02.280 --> 0:15:04.840
<v Speaker 20>but they're also saying, you need to keep your focus

0:15:04.880 --> 0:15:06.840
<v Speaker 20>on the main thing here for Israel, which for them

0:15:06.960 --> 0:15:10.480
<v Speaker 20>is still the conflict in Gaza, the conflict against Tamas

0:15:10.520 --> 0:15:13.920
<v Speaker 20>and Gaza, and also fending off Hasbalah from the north

0:15:13.920 --> 0:15:14.480
<v Speaker 20>in Lebanon.

0:15:14.520 --> 0:15:17.440
<v Speaker 11>Europe. Being too many fronts here it becomes difficult.

0:15:17.880 --> 0:15:20.200
<v Speaker 20>And some of those voices you know that we're hearing

0:15:20.200 --> 0:15:22.760
<v Speaker 20>this morning, saying that whatever Israel did was weak, that

0:15:22.880 --> 0:15:25.560
<v Speaker 20>needs to be more. They aren't actually in the war cabinet,

0:15:25.600 --> 0:15:28.200
<v Speaker 20>so they're not they're making the military decisions, but they

0:15:28.240 --> 0:15:31.080
<v Speaker 20>are pushing him from the sidelines. The question is, you've

0:15:31.080 --> 0:15:33.680
<v Speaker 20>also at the US and others urging restraints. So all

0:15:33.680 --> 0:15:37.000
<v Speaker 20>these competing factors going on for Benjamin Netnyahu.

0:15:37.040 --> 0:15:38.880
<v Speaker 11>But again there seems to be a lot of messaging

0:15:38.920 --> 0:15:39.640
<v Speaker 11>this morning on is.

0:15:39.640 --> 0:15:43.280
<v Speaker 20>Rerad ATV about the need to keep focused on Israel's

0:15:43.280 --> 0:15:45.600
<v Speaker 20>goals when it comes to its war in Gaza, and.

0:15:45.720 --> 0:15:48.720
<v Speaker 3>Just thirty seconds left, where does this leave the war

0:15:48.800 --> 0:15:49.680
<v Speaker 3>in Gaza now?

0:15:51.240 --> 0:15:54.080
<v Speaker 20>Well, Israel insists very much still its attention is to

0:15:54.280 --> 0:15:57.000
<v Speaker 20>mount that offensive inside Raphae in the south. That's where

0:15:57.000 --> 0:16:00.160
<v Speaker 20>we've got a lot of Palestinian civilians clustered, and it's

0:16:00.160 --> 0:16:01.800
<v Speaker 20>going to happen sooner.

0:16:01.600 --> 0:16:02.200
<v Speaker 11>Rather than later.

0:16:02.280 --> 0:16:05.440
<v Speaker 20>We'd obviously get telegraphed because Israel have to encourage people

0:16:05.440 --> 0:16:07.440
<v Speaker 20>and move them out of the way to do so.

0:16:07.600 --> 0:16:10.560
<v Speaker 20>But certainly there's no sense from Israel that they're being

0:16:10.600 --> 0:16:12.040
<v Speaker 20>deterred in that goal.

0:16:12.160 --> 0:16:13.640
<v Speaker 11>So that's probably the next thing to look for.

0:16:13.680 --> 0:16:16.280
<v Speaker 20>At some point, do we see that offensive beginning rougher

0:16:16.400 --> 0:16:17.560
<v Speaker 20>in the south New Egypt.

0:16:17.920 --> 0:16:21.000
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