1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:10,039 --> 00:00:13,080 Speaker 2: This is the Bloomberg Daybreak cur podcast, available every morning 3 00:00:13,119 --> 00:00:16,040 Speaker 2: on Apple, Spotify or wherever you listen. It's Monday, the 4 00:00:16,079 --> 00:00:19,120 Speaker 2: twenty third of June. Here in London, I'm Caroline Hepka. 5 00:00:19,239 --> 00:00:23,720 Speaker 2: Coming up today. Iran warns all options for retaliation are 6 00:00:23,760 --> 00:00:27,400 Speaker 2: on the table following US strikes on its nuclear facilities. 7 00:00:27,920 --> 00:00:32,000 Speaker 2: Questions grow over President Trump's claimed that the attack totally 8 00:00:32,040 --> 00:00:37,360 Speaker 2: obliterated tey RAN's atomic program and crude spikes as two 9 00:00:37,440 --> 00:00:40,519 Speaker 2: supertankers U turn in the strait of Hall moves and 10 00:00:40,600 --> 00:00:44,199 Speaker 2: market's watch for signs of escalation. Let's start with a 11 00:00:44,240 --> 00:00:48,839 Speaker 2: roundup of our top stories. Unprecedented US air strikes against 12 00:00:48,840 --> 00:00:52,839 Speaker 2: Iran's nuclear facilities over the weekend have set traders and 13 00:00:52,880 --> 00:00:56,560 Speaker 2: governments across the globe on edge. The large scale American 14 00:00:56,600 --> 00:01:01,200 Speaker 2: operation targeted nuclear facilities at four dough Natal and Isfahan 15 00:01:01,520 --> 00:01:05,000 Speaker 2: in a thirty seven hour operation that included one hundred 16 00:01:05,000 --> 00:01:09,200 Speaker 2: and twenty five aircraft, submarine launched Tomahawk missiles, and the 17 00:01:09,200 --> 00:01:14,000 Speaker 2: first combat use of the US's thirty thousand pounds massive 18 00:01:14,120 --> 00:01:18,760 Speaker 2: ordnance penetrator bombs. Iran's Atomic Energy Agency described the US 19 00:01:18,800 --> 00:01:22,840 Speaker 2: strikes as a savage assault, but pledged not to abandon 20 00:01:22,920 --> 00:01:27,119 Speaker 2: its own nuclear work and speaking yesterday, Iran's Foreign minster 21 00:01:27,240 --> 00:01:31,520 Speaker 2: Abbas Aracchi said all options for a response are on 22 00:01:31,760 --> 00:01:32,360 Speaker 2: the table. 23 00:01:33,000 --> 00:01:36,640 Speaker 3: The United States itself has now also opted for a 24 00:01:36,720 --> 00:01:42,400 Speaker 3: dangerous military operation and aggression against the people of Iran. 25 00:01:42,680 --> 00:01:47,280 Speaker 3: In doing so, the US administrations holds soul and full 26 00:01:47,319 --> 00:01:52,480 Speaker 3: responsibility for the consequences of its actions, including the Islamic 27 00:01:52,520 --> 00:01:56,440 Speaker 3: Republic of Iran's right to self defense under the principles 28 00:01:56,440 --> 00:01:57,480 Speaker 3: of the United Charter. 29 00:01:58,200 --> 00:02:01,560 Speaker 2: Those words from the Iranian fi minister were followed by 30 00:02:01,560 --> 00:02:06,360 Speaker 2: further comments from the country's ambassador to the UN, Amir Said. 31 00:02:06,560 --> 00:02:10,920 Speaker 2: Iravani told an Emergency Security Council meeting that the timing, 32 00:02:11,000 --> 00:02:14,760 Speaker 2: nature and scale of Tehran's response will be decided by 33 00:02:14,800 --> 00:02:19,280 Speaker 2: its armed forces well. The US has warned all American 34 00:02:19,320 --> 00:02:23,280 Speaker 2: citizens abroad to be wary of protests and travel disruption. 35 00:02:23,680 --> 00:02:28,040 Speaker 2: The State Department issued a worldwide caution alert after the strikes, 36 00:02:28,200 --> 00:02:31,760 Speaker 2: saying in a statement, there is the potential for demonstrations 37 00:02:31,800 --> 00:02:36,160 Speaker 2: against US citizens and interests abroad. And on Fox News 38 00:02:36,200 --> 00:02:40,600 Speaker 2: Sunday's Morning Futures program, US sectory of Saint Marco Rubio 39 00:02:40,680 --> 00:02:43,080 Speaker 2: warned Iran against retaliation. 40 00:02:43,960 --> 00:02:46,440 Speaker 4: If they retaliate, it'll be the worst mistake they've ever made. 41 00:02:46,600 --> 00:02:47,400 Speaker 5: Look, we can. 42 00:02:47,240 --> 00:02:49,800 Speaker 4: Fly in and out of Iran at will, so it 43 00:02:49,800 --> 00:02:52,399 Speaker 4: would be a terrible mistake of Iran retaliates. But that's 44 00:02:52,400 --> 00:02:54,919 Speaker 4: not our goal. We are not declaring war in Iran. 45 00:02:54,960 --> 00:02:57,280 Speaker 4: We're not looking for war and Iran. But if they 46 00:02:57,320 --> 00:02:59,800 Speaker 4: attack us, then I think we have capabilities they having 47 00:02:59,800 --> 00:03:01,800 Speaker 4: them see yet it would be a terrible mistake on 48 00:03:01,840 --> 00:03:03,640 Speaker 4: their part, and frankly, it's not what we hope for 49 00:03:03,680 --> 00:03:04,080 Speaker 4: a wish. 50 00:03:04,800 --> 00:03:09,240 Speaker 2: Marco Rubio's comments came as major US city's titan security 51 00:03:09,320 --> 00:03:13,560 Speaker 2: following the US strikes. While officials cited no credible threats 52 00:03:13,600 --> 00:03:17,160 Speaker 2: at this time, police in New York, Washington, DC, and 53 00:03:17,360 --> 00:03:22,880 Speaker 2: Los Angeles have increased patrols at religious institutions, diplomatic facilities, 54 00:03:22,919 --> 00:03:27,799 Speaker 2: and in public spaces. While addressing the nation late on Saturday, 55 00:03:28,240 --> 00:03:32,000 Speaker 2: US President Donald Trump said that Iran's key nuclear enrichment 56 00:03:32,040 --> 00:03:38,240 Speaker 2: facilities have been completely and totally obliterated. However, the effectiveness 57 00:03:38,280 --> 00:03:42,440 Speaker 2: of the strike, dubbed Operation Midnight Hammer, appears to be 58 00:03:42,600 --> 00:03:45,880 Speaker 2: less clear. When asked for more details on the success 59 00:03:45,920 --> 00:03:49,560 Speaker 2: of the attacks. During NBC's Meet the Press, the US 60 00:03:49,680 --> 00:03:53,920 Speaker 2: Vice President JD. Vans was less definitive in his assessment 61 00:03:54,120 --> 00:03:55,280 Speaker 2: than President Trump. 62 00:03:56,200 --> 00:04:00,160 Speaker 6: He set the Iranian nuclear program back substantially last night. 63 00:04:00,880 --> 00:04:03,240 Speaker 6: Whether it's years or beyond that, we know it's going 64 00:04:03,280 --> 00:04:05,880 Speaker 6: to be a very long time before Iran can even 65 00:04:06,360 --> 00:04:08,120 Speaker 6: build a nuclear weapon if they want to. 66 00:04:09,120 --> 00:04:12,600 Speaker 2: Vance's comments on Meet the Press came as US Air 67 00:04:12,600 --> 00:04:15,360 Speaker 2: Force General Dan Kane told a press conference that the 68 00:04:15,400 --> 00:04:19,920 Speaker 2: assessment of quote final battle damage will take some time. 69 00:04:20,520 --> 00:04:24,600 Speaker 2: Satellite images taken on Sunday of the Foudau and Natans 70 00:04:24,760 --> 00:04:30,240 Speaker 2: sites show new craters and possibly collapse tunnel entrances, but 71 00:04:30,360 --> 00:04:34,039 Speaker 2: they do not offer conclusive evidence that the attack breached 72 00:04:34,080 --> 00:04:38,920 Speaker 2: the underground facilities. Now adding to those comments, the Israeli 73 00:04:38,960 --> 00:04:41,680 Speaker 2: Prime Minister Benjamin Netnier, who said that the US air 74 00:04:41,720 --> 00:04:45,000 Speaker 2: strike delivered a great deal of damage, but the full 75 00:04:45,040 --> 00:04:48,400 Speaker 2: extent is not yet known. Nenia, who made the remarks 76 00:04:48,480 --> 00:04:51,000 Speaker 2: during a news conference in which he pledged to continue 77 00:04:51,120 --> 00:04:54,840 Speaker 2: Israel's military campaign in both Iran and the Gaza Strip. 78 00:04:55,800 --> 00:05:01,240 Speaker 7: Congratulations, President Trump, your bold decision to target Iran's nuclear 79 00:05:01,279 --> 00:05:04,760 Speaker 7: facilities with the awesome and righteous mind of the United 80 00:05:04,760 --> 00:05:06,920 Speaker 7: States will change. 81 00:05:06,760 --> 00:05:11,799 Speaker 2: History, Israel's Prime Minister Netnyahu, speaking there as the UN 82 00:05:11,920 --> 00:05:16,120 Speaker 2: Nuclear inspectors from the IAEA have reported that they have 83 00:05:16,320 --> 00:05:20,039 Speaker 2: not been able to verify the location of Iran's stockpile 84 00:05:20,360 --> 00:05:23,520 Speaker 2: of near bomb grade uranium for more than a week. 85 00:05:23,880 --> 00:05:28,400 Speaker 2: Iranian officials recently acknowledge breaking IAEA seals and moving the 86 00:05:28,440 --> 00:05:32,680 Speaker 2: material to an undisclosed location. Meanwhile, in a post on 87 00:05:32,720 --> 00:05:37,280 Speaker 2: social media, the EU's top diplomat, Kakallos urged quote all 88 00:05:37,440 --> 00:05:40,719 Speaker 2: sides to step back, return to the negotiating table and 89 00:05:40,839 --> 00:05:45,320 Speaker 2: prevent further escalation, adding that Iran must not be allowed 90 00:05:45,320 --> 00:05:49,920 Speaker 2: to develop a nuclear weapon. Britain says that his military 91 00:05:50,240 --> 00:05:53,839 Speaker 2: was not involved in the US operation, but it expressed 92 00:05:53,839 --> 00:05:57,320 Speaker 2: support for its results. UK officials said that they received 93 00:05:57,400 --> 00:06:01,760 Speaker 2: advance warning from Washington about the strikes. Business Secretary Jonathan 94 00:06:01,800 --> 00:06:04,520 Speaker 2: Reynolds says that Iran is a major threat to the 95 00:06:04,640 --> 00:06:07,640 Speaker 2: UK and to the wider world, not just to the 96 00:06:07,680 --> 00:06:08,239 Speaker 2: Middle East. 97 00:06:08,880 --> 00:06:12,359 Speaker 8: So I think this is just a benign theocratic dictatorship keeping. 98 00:06:12,200 --> 00:06:12,920 Speaker 5: Itself to itself. 99 00:06:12,960 --> 00:06:15,000 Speaker 8: No, and there is simply no way a responsible British 100 00:06:15,000 --> 00:06:17,840 Speaker 8: government would ever allow that country to possess nuclear weapon. 101 00:06:18,000 --> 00:06:19,800 Speaker 8: I wanted a different way to obtain this, but I 102 00:06:19,800 --> 00:06:22,680 Speaker 8: cannot pretend to you that the prevention of Iran having 103 00:06:23,000 --> 00:06:25,200 Speaker 8: a nuclear weapon is anything other than the interests of 104 00:06:25,200 --> 00:06:25,760 Speaker 8: this country. 105 00:06:26,040 --> 00:06:29,720 Speaker 2: Reynolds also pushed back on comparisons to the invasion of 106 00:06:29,760 --> 00:06:33,560 Speaker 2: Iraq more than twenty years ago. President trump strikes have 107 00:06:33,640 --> 00:06:36,640 Speaker 2: put the UK and other key US allies in a 108 00:06:36,680 --> 00:06:40,760 Speaker 2: difficult position. They want to maintain key economic and military 109 00:06:40,800 --> 00:06:44,440 Speaker 2: ties without being dragged into a war in the region. 110 00:06:45,000 --> 00:06:48,920 Speaker 2: Oil prices surged after the US stock Iraq's nuclear sites, 111 00:06:48,960 --> 00:06:53,520 Speaker 2: stoking concerns of energy supply disruption. Global benchmark Brent CREWD 112 00:06:53,640 --> 00:06:57,000 Speaker 2: rose as much as five point seven percent to eighty 113 00:06:57,040 --> 00:07:01,720 Speaker 2: one dollars forty the bow before pairing those gains. Matt 114 00:07:01,720 --> 00:07:06,640 Speaker 2: Gerzkin is chief geopolitical strategist at BCA Research. He told 115 00:07:06,640 --> 00:07:09,520 Speaker 2: Bloomberg that prices could go even higher. 116 00:07:09,760 --> 00:07:12,640 Speaker 9: If Hormoz is claused, or if shipping in other ways 117 00:07:12,680 --> 00:07:15,840 Speaker 9: is blocked, or if Saudi Arabia is hit. Those are 118 00:07:16,160 --> 00:07:20,239 Speaker 9: last last gasp actions by Iran. But if they happen, 119 00:07:20,680 --> 00:07:23,200 Speaker 9: then of course we would start to move toward maybe 120 00:07:23,280 --> 00:07:26,080 Speaker 9: even a doubling of oil price. I mean definitely over 121 00:07:26,080 --> 00:07:26,920 Speaker 9: one hundred per barrel. 122 00:07:27,280 --> 00:07:31,000 Speaker 2: BCA Research is Matt Gertkin speaking there. The news comes 123 00:07:31,040 --> 00:07:35,680 Speaker 2: as Bloomberg data showed two empty supertankers capable of transporting 124 00:07:35,680 --> 00:07:38,880 Speaker 2: around two million barrels of crude you turned in the 125 00:07:38,880 --> 00:07:42,640 Speaker 2: Strait of Hormuz after the strikes. The vessels changed course 126 00:07:42,720 --> 00:07:46,160 Speaker 2: on Sunday, sailing south away from the mouth of the 127 00:07:46,200 --> 00:07:52,040 Speaker 2: Persian Gulf. And global aviation is also facing increased disruption 128 00:07:52,280 --> 00:07:54,720 Speaker 2: after the latest developments in the Middle East. That's after 129 00:07:54,840 --> 00:07:59,240 Speaker 2: several American and European airlines paused flights to the UAE 130 00:07:59,400 --> 00:08:02,760 Speaker 2: and cut up. Bloomberg's Tea Adebayo has the details there. 131 00:08:03,080 --> 00:08:06,560 Speaker 10: British Airways and Singapore Airlines have halted flights to the 132 00:08:06,600 --> 00:08:10,040 Speaker 10: Persian Gulf as the industry adjusted growing tension in the 133 00:08:10,040 --> 00:08:13,840 Speaker 10: Middle East. The UK based carrier canceled several trips to 134 00:08:13,920 --> 00:08:17,440 Speaker 10: Dubai and diverted two planes bound for the Emirate overnight. 135 00:08:18,040 --> 00:08:22,280 Speaker 10: That's according to data from flight Radar twenty four. Meanwhile, 136 00:08:22,360 --> 00:08:25,960 Speaker 10: Singapore's National Airlines said it canceled two flights to Dubai 137 00:08:26,000 --> 00:08:29,640 Speaker 10: on Sunday, warning of more disruption as the situation remains. 138 00:08:29,800 --> 00:08:30,720 Speaker 5: Quote fluid. 139 00:08:31,440 --> 00:08:34,520 Speaker 10: The moves highlight growing concerns about an area of the 140 00:08:34,559 --> 00:08:39,760 Speaker 10: region typically considered safe and sheltered from regional conflict. In London, 141 00:08:39,840 --> 00:08:41,520 Speaker 10: Tea at a Bayo, Bloomberg raised you. 142 00:08:42,400 --> 00:08:44,840 Speaker 2: So those are our top stories. Let's get to the 143 00:08:44,880 --> 00:08:48,000 Speaker 2: markets now. So we mentioned that crude oil had surged 144 00:08:48,120 --> 00:08:50,760 Speaker 2: at the beginning of trading on Monday. We've pared back 145 00:08:50,800 --> 00:08:53,120 Speaker 2: some of that six percent gain. Break Croud futures at 146 00:08:53,120 --> 00:08:56,040 Speaker 2: seventy seven dollars eighty seven, the bow up by one 147 00:08:56,080 --> 00:08:59,800 Speaker 2: point one percent. Bloomberg intelligences one hundred dollars oil and 148 00:09:00,240 --> 00:09:04,560 Speaker 2: greater volatility if Tehran doesn't make peace with Israel. The 149 00:09:04,600 --> 00:09:07,120 Speaker 2: dollar has also gapped higher. We're up four tenths of 150 00:09:07,120 --> 00:09:10,520 Speaker 2: one percent on the Bloomberg Dollar Spot Index this morning. 151 00:09:10,559 --> 00:09:14,280 Speaker 2: Stop futures for Europe are sinking half of one percent. 152 00:09:14,400 --> 00:09:17,880 Speaker 2: SMP five eminis also down two tenths of one percent 153 00:09:17,920 --> 00:09:21,600 Speaker 2: this morning. Gold, though erase the games that we saw earlier. 154 00:09:21,640 --> 00:09:24,079 Speaker 2: We are now down three tenths of one percent three thousand, 155 00:09:24,120 --> 00:09:27,480 Speaker 2: three hundred and fifty nine dollars. The euro is also softer. 156 00:09:27,559 --> 00:09:31,120 Speaker 2: The Japanese end down seven tenths of one percent this morning, 157 00:09:31,200 --> 00:09:35,400 Speaker 2: and Bitcoin currently trading at above one hundred and one 158 00:09:35,440 --> 00:09:38,080 Speaker 2: thousand dollars, up by one point eight percent. As for 159 00:09:38,120 --> 00:09:41,320 Speaker 2: the bond markets, tenure US yields upper basis point only 160 00:09:41,320 --> 00:09:44,240 Speaker 2: one basis point at four thirty nine. So those are 161 00:09:44,240 --> 00:09:46,360 Speaker 2: the markets. In a moment, we're going to bring you, 162 00:09:46,440 --> 00:09:50,760 Speaker 2: of course, in depth coverage of the geopolitical reaction to 163 00:09:50,840 --> 00:09:52,959 Speaker 2: the US strikes in the Middle East. We will assess 164 00:09:53,000 --> 00:09:56,200 Speaker 2: the impact on Iraq's nuclear program and also dig into 165 00:09:56,240 --> 00:10:01,000 Speaker 2: the possible repercussions for the global energy market. But before 166 00:10:01,000 --> 00:10:03,840 Speaker 2: we get to all of our correspondence and reporters on 167 00:10:03,880 --> 00:10:07,360 Speaker 2: this very important morning, I want to bring you some 168 00:10:07,559 --> 00:10:10,720 Speaker 2: of the in depth thinking that has been done around 169 00:10:10,760 --> 00:10:13,480 Speaker 2: what has happened this weekend, and I'd like to point 170 00:10:13,559 --> 00:10:17,040 Speaker 2: you towards Bloomberg's Andres Kluth. He's one of our opinion 171 00:10:17,080 --> 00:10:21,479 Speaker 2: columnists talking about Midnight Hammer. It counts as a stunning triumph, 172 00:10:21,720 --> 00:10:25,720 Speaker 2: But tactics are one thing, strategy is another. Kluth points 173 00:10:25,720 --> 00:10:29,320 Speaker 2: out the dangers of Hubris, who hasn't perhaps thought of 174 00:10:29,320 --> 00:10:33,280 Speaker 2: that over this weekend, the ominous echoes as Andreas mentions 175 00:10:33,280 --> 00:10:38,360 Speaker 2: of previous American presence, prematurely proclaiming mission accomplished? Is it 176 00:10:38,440 --> 00:10:42,160 Speaker 2: mission accomplished here? You know? Obviously it doesn't seem to 177 00:10:42,200 --> 00:10:45,320 Speaker 2: be that way. Mark Champion's also been writing in depth 178 00:10:45,320 --> 00:10:49,640 Speaker 2: about whether actually the future now is in the hands 179 00:10:49,640 --> 00:10:54,640 Speaker 2: of Iran's clerics a President Trump claiming near magical powers 180 00:10:54,640 --> 00:10:58,000 Speaker 2: for ending and preventing wars. According to Mark Champion, but 181 00:10:58,240 --> 00:11:01,360 Speaker 2: Israel cornered the US president and into joining this war. 182 00:11:01,400 --> 00:11:05,760 Speaker 2: So he talks about the various paths that he sees ahead. 183 00:11:06,760 --> 00:11:09,360 Speaker 2: Is America going to be successful in this war? Will 184 00:11:09,600 --> 00:11:13,560 Speaker 2: Era's nuclear program be obliterated? What happens if there is 185 00:11:14,160 --> 00:11:18,240 Speaker 2: instability or maybe regime change in Iran? So have a 186 00:11:18,280 --> 00:11:21,840 Speaker 2: read of those two in depth Bloomberg opinion pieces. They 187 00:11:21,920 --> 00:11:25,600 Speaker 2: come highly recommended if you want more in depth thinking 188 00:11:25,640 --> 00:11:28,960 Speaker 2: on this story. For now, though it is just over 189 00:11:29,040 --> 00:11:32,000 Speaker 2: twenty four hours since the US air strikes on Eram's 190 00:11:32,080 --> 00:11:37,199 Speaker 2: nuclear program, the Islamic Republic has warned of retaliation. Brent 191 00:11:37,280 --> 00:11:40,160 Speaker 2: oil has rallied as much as five point seven percent 192 00:11:40,200 --> 00:11:43,520 Speaker 2: at the open this morning. But we are at another 193 00:11:43,960 --> 00:11:46,880 Speaker 2: hugely perilous moment, it would seem in the Middle East 194 00:11:46,920 --> 00:11:51,640 Speaker 2: joining me now. In Bloomberg's EMEA News director Roslin Matheson Roz, 195 00:11:51,679 --> 00:11:56,360 Speaker 2: Good morning. How successful? Firstly, do we think that these 196 00:11:56,559 --> 00:12:00,480 Speaker 2: US strikes were on four Dough Natans and Isfahan. Surely 197 00:12:00,520 --> 00:12:02,840 Speaker 2: that's the most important first thought. 198 00:12:03,520 --> 00:12:05,680 Speaker 11: Well, and that is an important thought, But we don't 199 00:12:05,760 --> 00:12:09,680 Speaker 11: really know. As you say, this was an extensive US operation, 200 00:12:09,880 --> 00:12:13,880 Speaker 11: the first confirmed use in combat of these bunker buster 201 00:12:14,520 --> 00:12:18,960 Speaker 11: bombs called massive ordinance penetrator bombs, seems to be an 202 00:12:19,000 --> 00:12:22,640 Speaker 11: operation largely carried out by the US on its own, 203 00:12:23,040 --> 00:12:27,920 Speaker 11: without assistance from the UK, Europe and elsewhere. And the 204 00:12:28,000 --> 00:12:31,160 Speaker 11: question is did they actually achieve the goal of Donald 205 00:12:31,160 --> 00:12:35,240 Speaker 11: Trump says they basically obliterated these sites. They did damage 206 00:12:35,320 --> 00:12:40,079 Speaker 11: deep underground in these key nuclear facilities. The reality is 207 00:12:40,120 --> 00:12:44,080 Speaker 11: at this stage we just don't know. For now, the 208 00:12:44,240 --> 00:12:47,920 Speaker 11: UN nuclear monitors are saying, no one knows the condition 209 00:12:48,240 --> 00:12:52,240 Speaker 11: of these facilities, particularly the four Dah facility. There's been 210 00:12:52,240 --> 00:12:56,280 Speaker 11: no significant leak of radiation obviously, and they don't know 211 00:12:56,360 --> 00:13:01,520 Speaker 11: most importantly exactly where the highest enriched U of iran is. 212 00:13:01,559 --> 00:13:05,440 Speaker 11: It's quite possible they'd been moving that around within their sites. 213 00:13:05,440 --> 00:13:08,640 Speaker 11: That's more than four hundred kilograms of uranium and rich 214 00:13:08,720 --> 00:13:11,120 Speaker 11: to sixty percent, and they seem to have lost track 215 00:13:11,160 --> 00:13:13,800 Speaker 11: of it, and so the question is did this do 216 00:13:13,920 --> 00:13:16,200 Speaker 11: damage enough to these sites to stop them being able 217 00:13:16,200 --> 00:13:18,640 Speaker 11: to operate for a short period of time for a 218 00:13:18,640 --> 00:13:21,600 Speaker 11: long period of time, do they know where the uranium is? 219 00:13:21,800 --> 00:13:25,240 Speaker 11: As is meant that Iran is unable to accelerate if 220 00:13:25,280 --> 00:13:28,520 Speaker 11: it wanted to the production of a nuclear weapon. It's 221 00:13:28,679 --> 00:13:31,920 Speaker 11: very unclear at this point how much damage was done 222 00:13:31,960 --> 00:13:35,480 Speaker 11: and so therefore was this operation truly successful if that 223 00:13:35,640 --> 00:13:36,560 Speaker 11: was the singular goal. 224 00:13:37,240 --> 00:13:42,239 Speaker 2: Indeed, now Iran's allies like Harmus and Hezbolla are severely weakened. 225 00:13:42,640 --> 00:13:47,320 Speaker 2: But Iran could disrupt oil supplies, It could retaliate how 226 00:13:47,760 --> 00:13:50,239 Speaker 2: and what is the expectation on retaliation. 227 00:13:50,800 --> 00:13:53,439 Speaker 11: Well, obviously Iran says they reserve the right to retaliate 228 00:13:53,720 --> 00:13:56,040 Speaker 11: in whatever way they see fit. 229 00:13:56,080 --> 00:13:58,520 Speaker 5: They haven't done anything significant so far. 230 00:13:58,600 --> 00:14:01,160 Speaker 11: They're probably drawing brad and trying to work out how 231 00:14:01,200 --> 00:14:05,200 Speaker 11: to calibrate a response. I mean, it's very clear they 232 00:14:05,200 --> 00:14:07,920 Speaker 11: can't just let this go by. This was the US 233 00:14:08,040 --> 00:14:12,240 Speaker 11: striking directly at the heart of Iran. But equally, this 234 00:14:12,320 --> 00:14:15,080 Speaker 11: is a regime that has suffered quite a lot of 235 00:14:15,120 --> 00:14:17,839 Speaker 11: losses in its leadership, in its military. 236 00:14:17,920 --> 00:14:18,880 Speaker 5: As you say in some. 237 00:14:18,840 --> 00:14:22,680 Speaker 11: Of its proxies, particularly Hesbalah, which was always at the 238 00:14:22,720 --> 00:14:24,040 Speaker 11: top of. 239 00:14:23,960 --> 00:14:27,160 Speaker 5: The line for Iran. So what are the options. 240 00:14:27,240 --> 00:14:30,040 Speaker 11: It can disrupt shipping again, the Huthi's have worn they'll 241 00:14:30,040 --> 00:14:33,080 Speaker 11: do that. It could close the Strait of Hermus, which 242 00:14:33,120 --> 00:14:36,560 Speaker 11: is a key waterway for the oil trade, although that 243 00:14:36,600 --> 00:14:39,640 Speaker 11: would be quite self defeating for Iran equally in terms 244 00:14:39,640 --> 00:14:43,320 Speaker 11: of its own economy, which is already on its knees. 245 00:14:43,800 --> 00:14:46,120 Speaker 5: That would have a big impact on global all supply 246 00:14:46,400 --> 00:14:46,960 Speaker 5: as well. 247 00:14:47,840 --> 00:14:52,080 Speaker 11: It could try and attack US military sites in the region, 248 00:14:52,120 --> 00:14:55,240 Speaker 11: and that just leads to an even bigger regional conflict. 249 00:14:55,720 --> 00:14:58,160 Speaker 11: It can carry out cyber attacks. It's very good at 250 00:14:58,160 --> 00:15:01,280 Speaker 11: doing those, actually, so you could see some cyber action. 251 00:15:01,360 --> 00:15:02,880 Speaker 11: But all of it is about saying, what is the 252 00:15:03,000 --> 00:15:06,680 Speaker 11: message that we can send if you're Iran that responds 253 00:15:06,720 --> 00:15:09,760 Speaker 11: to this without possibly tipping it into an even bigger war. 254 00:15:11,000 --> 00:15:13,840 Speaker 2: Indeed, and to that point, what has been the reaction 255 00:15:13,960 --> 00:15:17,760 Speaker 2: around the world to this? I mean, there's President Trump 256 00:15:17,800 --> 00:15:20,800 Speaker 2: saying that Iran must make peace. Does this mean peace, 257 00:15:20,840 --> 00:15:24,360 Speaker 2: does it mean regime change? Or indeed does one Trump 258 00:15:24,480 --> 00:15:28,440 Speaker 2: ally called it the Third World War? What is the 259 00:15:28,480 --> 00:15:29,880 Speaker 2: geopolitical reaction? 260 00:15:30,480 --> 00:15:33,400 Speaker 11: Well, It's interesting to see quite a few countries obviously 261 00:15:33,440 --> 00:15:39,000 Speaker 11: expressing concern about the situation, but not racing to support Iran, 262 00:15:39,160 --> 00:15:42,040 Speaker 11: equally distancing themselves a bit from the US in all 263 00:15:42,080 --> 00:15:44,440 Speaker 11: of this. Again, the UK, France, others saying we had 264 00:15:44,480 --> 00:15:47,360 Speaker 11: nothing to do with these strikes. Countries in the region, 265 00:15:47,400 --> 00:15:51,800 Speaker 11: the Gulf stakes obviously very concerned about the potential for escalation, 266 00:15:52,120 --> 00:15:54,960 Speaker 11: urging a return some way to talks, although that seems 267 00:15:55,000 --> 00:15:58,080 Speaker 11: to be very difficult at the moment. And in the end, 268 00:15:58,080 --> 00:16:01,160 Speaker 11: what is it that Israel and the UA want in this? 269 00:16:01,280 --> 00:16:04,400 Speaker 11: As you say, people throw the words regime change around 270 00:16:04,920 --> 00:16:05,640 Speaker 11: all the time. 271 00:16:05,760 --> 00:16:08,480 Speaker 5: Does Israel want that? Does the US want that? I mean? 272 00:16:08,520 --> 00:16:11,880 Speaker 11: Donald Trump last night said in a tweet that, you know, 273 00:16:11,960 --> 00:16:14,920 Speaker 11: if the current regime is unable to make around great again, 274 00:16:15,200 --> 00:16:18,200 Speaker 11: why wouldn't there be regime change. That's even as other 275 00:16:18,280 --> 00:16:21,040 Speaker 11: US officials are saying, hang on, we're not looking for that, 276 00:16:21,240 --> 00:16:24,120 Speaker 11: it seems to be they're saying, well, if these circumstances 277 00:16:24,200 --> 00:16:27,520 Speaker 11: create the environment for regime change at home with the 278 00:16:27,520 --> 00:16:30,760 Speaker 11: Iranian people, then that's not a bad thing. There's no 279 00:16:30,920 --> 00:16:34,120 Speaker 11: sign the Uranian people are stepping away from the regime 280 00:16:34,120 --> 00:16:36,160 Speaker 11: at the moment. There's probably more of a rally around 281 00:16:36,160 --> 00:16:39,240 Speaker 11: the flag thing going on, even a regime that many 282 00:16:39,240 --> 00:16:42,960 Speaker 11: Iranians don't like. But the question is, if you're pushing 283 00:16:43,000 --> 00:16:45,800 Speaker 11: for that for regime change, what would you be left 284 00:16:45,840 --> 00:16:48,480 Speaker 11: with afterward, because there are plenty of examples around the 285 00:16:48,520 --> 00:16:51,320 Speaker 11: world where regime change has not gone particularly well. 286 00:16:52,160 --> 00:16:54,440 Speaker 2: Indeed, Wells, thank you so much for being with us 287 00:16:54,760 --> 00:16:57,560 Speaker 2: and forgiving us your thoughts. Bunting Bag's EMEA news director 288 00:16:57,680 --> 00:17:00,320 Speaker 2: ros In Matheson, Well, I want to move straight on 289 00:17:00,520 --> 00:17:04,639 Speaker 2: and talk about President Trump talking about this bullseye moment. 290 00:17:05,160 --> 00:17:08,399 Speaker 2: But the United Nations Atomic Watchdog says that it sees 291 00:17:08,440 --> 00:17:12,560 Speaker 2: no radioactive contamination and as Roz was mentioning, it doesn't 292 00:17:12,600 --> 00:17:17,119 Speaker 2: know where Iran's four hundred kilograms of enriched uranium is 293 00:17:17,600 --> 00:17:21,919 Speaker 2: right now. Jonathan Tyrone, who covers nuclear diplomacy for Bloomberg, 294 00:17:22,520 --> 00:17:25,440 Speaker 2: joins us now for more. Jonathan, good morning, and thanks 295 00:17:25,480 --> 00:17:28,440 Speaker 2: for your time. What do we know about Iran's nuclear 296 00:17:28,480 --> 00:17:32,080 Speaker 2: program now? The capacity to make a bomb. 297 00:17:32,080 --> 00:17:35,800 Speaker 12: Well significant them. It has been dealt to the future 298 00:17:35,840 --> 00:17:39,719 Speaker 12: capacity of Iran to make new uranium. However, the bombing 299 00:17:39,720 --> 00:17:43,360 Speaker 12: did not account for the inventory of existing uranium We 300 00:17:43,440 --> 00:17:46,800 Speaker 12: first reported five days ago that the IAEA had lost 301 00:17:46,960 --> 00:17:49,480 Speaker 12: track of the four hundred and nine kilograms of AILE 302 00:17:49,560 --> 00:17:52,840 Speaker 12: enriched uranium that's equivalent to en bomb's worth of material 303 00:17:52,920 --> 00:17:56,120 Speaker 12: that could be enriched to weapons grade. We still don't 304 00:17:56,160 --> 00:17:59,639 Speaker 12: know where that is, and the success or failure of 305 00:17:59,680 --> 00:18:02,760 Speaker 12: this military operation may well hinge on whether that can 306 00:18:02,840 --> 00:18:08,240 Speaker 12: be safely accounted for, because without doing that, the possibility 307 00:18:08,640 --> 00:18:12,679 Speaker 12: is going to exist that Iran has a clandestine facility 308 00:18:12,960 --> 00:18:15,040 Speaker 12: that we don't know about. And let me just click 309 00:18:15,119 --> 00:18:18,359 Speaker 12: the add I mean, what just happened is like the 310 00:18:18,520 --> 00:18:22,160 Speaker 12: proverbial person looking for their keys underneath the light pole 311 00:18:22,760 --> 00:18:28,840 Speaker 12: bombing the light because we bombed the places where inspections 312 00:18:28,880 --> 00:18:35,080 Speaker 12: were undergoing. We attacked the places where inspectors were And 313 00:18:35,680 --> 00:18:39,960 Speaker 12: just for context, the nuclear proliferation has always taken place 314 00:18:40,000 --> 00:18:44,879 Speaker 12: in clandestine locations, not declared locations under safeguards. So we 315 00:18:44,960 --> 00:18:47,560 Speaker 12: have really entered new uncharted territory here. 316 00:18:48,520 --> 00:18:52,920 Speaker 2: Yeah, India, Pakistan, North Korea all developed nuclear weapons, even 317 00:18:52,960 --> 00:18:53,440 Speaker 2: the US. 318 00:18:53,880 --> 00:18:56,720 Speaker 12: I mean, I mean the Manhattan Project was the greatest 319 00:18:56,760 --> 00:19:00,640 Speaker 12: secrecy event in Western history arguably. I mean, we developed 320 00:19:00,680 --> 00:19:04,280 Speaker 12: the nuclear weapon that was tested in nineteen forty five 321 00:19:04,560 --> 00:19:07,320 Speaker 12: in secret. So I mean you know, this is how 322 00:19:07,400 --> 00:19:11,359 Speaker 12: this is how proliferation occurs in secrecy, not declared sites 323 00:19:11,400 --> 00:19:15,560 Speaker 12: that are under international monitoring, with monitors keeping gram level 324 00:19:15,760 --> 00:19:19,720 Speaker 12: back over the style material and right now we've disrupted 325 00:19:19,720 --> 00:19:20,200 Speaker 12: that model. 326 00:19:20,800 --> 00:19:22,760 Speaker 2: Okay. Yeah, although I don't know at the time of 327 00:19:22,840 --> 00:19:25,000 Speaker 2: the Manhattan Project whether there would have been such a 328 00:19:25,040 --> 00:19:27,920 Speaker 2: structure for international oversight, but Jonathan, you will know better 329 00:19:27,960 --> 00:19:32,600 Speaker 2: than I. Look. In terms of the ia EA, they 330 00:19:32,680 --> 00:19:36,760 Speaker 2: have talked about this window of opportunity now after what 331 00:19:36,880 --> 00:19:39,240 Speaker 2: happened over the weekend, what do you make of that? 332 00:19:39,400 --> 00:19:40,520 Speaker 2: What they're asking for. 333 00:19:40,920 --> 00:19:44,640 Speaker 12: The IEA is holding an emergency sessions Board of Governors 334 00:19:44,640 --> 00:19:47,960 Speaker 12: today and that will be the topic of conversation. 335 00:19:48,600 --> 00:19:52,520 Speaker 2: Okay, In terms of the EU FIE ministers meeting today, 336 00:19:52,680 --> 00:19:56,560 Speaker 2: and also whether there's another path to diplomacy, what's your view. 337 00:19:56,960 --> 00:20:01,600 Speaker 12: Look, Iran was attacked while it was in in diplomacy 338 00:20:02,320 --> 00:20:08,080 Speaker 12: in latant violation of the United Nations Charter, and it's 339 00:20:08,119 --> 00:20:11,320 Speaker 12: going to be hard to reboot that at this stage. 340 00:20:11,720 --> 00:20:17,199 Speaker 12: It's hard to see where productive diplomacy takes place at 341 00:20:17,240 --> 00:20:20,440 Speaker 12: this juncture. I think the best we can look for 342 00:20:20,640 --> 00:20:23,000 Speaker 12: is no further escalation. 343 00:20:23,119 --> 00:20:25,480 Speaker 2: Okay, Jonathan, thank you so much for your time, Thank 344 00:20:25,480 --> 00:20:28,159 Speaker 2: you for being with me. Jonathan Tyrone covers a nuclear 345 00:20:28,160 --> 00:20:32,119 Speaker 2: diplomacy for Bloomberg, So my thanks to him. And in 346 00:20:32,240 --> 00:20:36,560 Speaker 2: terms of the next stages, oil markets remain on edge breakthrough, 347 00:20:36,720 --> 00:20:40,200 Speaker 2: opening almost six percent high this morning. There are concerns 348 00:20:40,240 --> 00:20:43,199 Speaker 2: about the Strait of holl Moves. Iran's parliament call for 349 00:20:43,240 --> 00:20:46,960 Speaker 2: the waterway to be closed, according to Press TV on Sunday. 350 00:20:47,560 --> 00:20:50,360 Speaker 2: So joining us this morning is Stephen Stepcinski, who leads 351 00:20:50,400 --> 00:20:54,080 Speaker 2: our energy coverage in Asia. Stephen, good morning. The price 352 00:20:54,280 --> 00:20:57,680 Speaker 2: of oil seems to be holding at least it has 353 00:20:57,760 --> 00:21:01,560 Speaker 2: retreated from that high ste are at the start of trading. 354 00:21:01,680 --> 00:21:04,879 Speaker 2: We're now trading at seventy seven dollars. About how concerned 355 00:21:04,920 --> 00:21:06,600 Speaker 2: though are oil traders? 356 00:21:07,160 --> 00:21:10,080 Speaker 13: I mean, there is certainly a concern, but there's a 357 00:21:10,119 --> 00:21:12,800 Speaker 13: difference between you know, are you concerned this? You know 358 00:21:13,000 --> 00:21:14,800 Speaker 13: there is a risk premium the market. We're ten percent 359 00:21:14,880 --> 00:21:18,320 Speaker 13: higher than we were before Israel began the strikes about 360 00:21:18,320 --> 00:21:20,600 Speaker 13: a week and a half ago. But then there's are 361 00:21:20,640 --> 00:21:23,680 Speaker 13: you concerned about the Strait of horror Moves actually being shut? 362 00:21:23,800 --> 00:21:26,440 Speaker 13: And if they were actually concerned about that? According to 363 00:21:26,480 --> 00:21:29,600 Speaker 13: Goldman and other banks, oil prices would be closer to 364 00:21:29,760 --> 00:21:32,359 Speaker 13: one hundred and thirty dollars instead of about seventy seven. 365 00:21:32,440 --> 00:21:35,480 Speaker 13: So there is there is some concern, but I think 366 00:21:35,480 --> 00:21:39,160 Speaker 13: it is still a remote risk for many in the market. 367 00:21:39,400 --> 00:21:42,800 Speaker 13: I think immediately after the US strike over the weekend, 368 00:21:42,800 --> 00:21:46,960 Speaker 13: there were some fears exactly how Iran would respond, and 369 00:21:46,960 --> 00:21:49,520 Speaker 13: maybe they would retaliate by hitting ships going through the strait, 370 00:21:49,800 --> 00:21:52,479 Speaker 13: maybe they would try to actually shut it. But the 371 00:21:52,520 --> 00:21:55,800 Speaker 13: only thing you have is a threat from Parliament, which 372 00:21:55,840 --> 00:21:58,000 Speaker 13: they've done before in the past. And it isn't Parliament 373 00:21:58,040 --> 00:22:02,399 Speaker 13: that decides who closes straight. It's the Supreme Leader of Iran, 374 00:22:02,440 --> 00:22:05,239 Speaker 13: It's the Security Council, you know it is. It is 375 00:22:05,240 --> 00:22:08,280 Speaker 13: not them. So this seems to be more of a 376 00:22:08,320 --> 00:22:10,919 Speaker 13: threat to see how the market will respond, and the 377 00:22:10,920 --> 00:22:12,760 Speaker 13: market is not really responding if we're only up about 378 00:22:12,800 --> 00:22:14,119 Speaker 13: like one point three percent today. 379 00:22:15,520 --> 00:22:18,600 Speaker 2: So then I says, what are the risks? What could 380 00:22:18,640 --> 00:22:21,119 Speaker 2: they do? And what are people on watchful? Because there 381 00:22:21,119 --> 00:22:25,119 Speaker 2: are various efforts that could be made, you know, to 382 00:22:25,440 --> 00:22:28,639 Speaker 2: close the strait of hormoes or make it impossible for 383 00:22:29,040 --> 00:22:32,240 Speaker 2: commercial and oil tankers to actually pass. What do you 384 00:22:32,240 --> 00:22:35,200 Speaker 2: think trade is are now on watchful in the coming 385 00:22:35,240 --> 00:22:36,560 Speaker 2: few hours and days. 386 00:22:37,240 --> 00:22:39,840 Speaker 13: I think you know. One of the scenarios that I 387 00:22:39,840 --> 00:22:41,440 Speaker 13: think a lot of the traders are looking for is 388 00:22:41,480 --> 00:22:43,360 Speaker 13: a similar approach to the Red Sea where the hu 389 00:22:43,400 --> 00:22:47,440 Speaker 13: thies were to target ships. Right so, Iran or Tehran 390 00:22:47,760 --> 00:22:51,359 Speaker 13: or organizations with connections to Iran could start to target 391 00:22:51,400 --> 00:22:55,399 Speaker 13: individual ships with rockets, with mines, with other other means 392 00:22:55,520 --> 00:22:59,520 Speaker 13: drones to hit ships going through that are connected to 393 00:22:59,520 --> 00:23:02,639 Speaker 13: the US, connect to the Israel or Western allies. That 394 00:23:02,760 --> 00:23:06,760 Speaker 13: is a scenario that could slow down, increase charter rates, 395 00:23:06,800 --> 00:23:11,600 Speaker 13: increase insurance rates, and make companies think twice before sending 396 00:23:11,600 --> 00:23:13,760 Speaker 13: their ships through. It would it would interrupt trade and 397 00:23:13,880 --> 00:23:16,400 Speaker 13: it could be problematic. It wouldn't result in the total closure, 398 00:23:16,840 --> 00:23:19,320 Speaker 13: maybe it's impossible totally close it, but it would it 399 00:23:19,320 --> 00:23:22,000 Speaker 13: would cause a disruption that would lead to higher prices. 400 00:23:22,200 --> 00:23:24,080 Speaker 13: That is one scenario I think that the market is 401 00:23:24,080 --> 00:23:26,360 Speaker 13: looking at. I think we're all so closely looking at 402 00:23:26,520 --> 00:23:30,000 Speaker 13: as these tit for tat attacks continue. If the US 403 00:23:30,080 --> 00:23:33,360 Speaker 13: were to strike Iran again, then then will they hit 404 00:23:33,400 --> 00:23:37,480 Speaker 13: oil infrastructure? Will iran An oil output be disrupted? That 405 00:23:37,480 --> 00:23:40,320 Speaker 13: would have an immediate impact on the oil market. Likewise, 406 00:23:41,000 --> 00:23:43,960 Speaker 13: will Iran look to hit oil infrastructure elsewhere, maybe in 407 00:23:43,960 --> 00:23:48,560 Speaker 13: Iraq or other places that could also physically take barrels 408 00:23:48,720 --> 00:23:51,639 Speaker 13: off the market, thus leading to higher prices. But clearly, 409 00:23:51,720 --> 00:23:53,639 Speaker 13: as you know, as we're talking about the Strait of 410 00:23:53,640 --> 00:23:57,919 Speaker 13: Horror moves, which is a conduit for basically the twenty 411 00:23:57,960 --> 00:24:03,080 Speaker 13: to thirty percent of oil trade, is the point that 412 00:24:03,119 --> 00:24:05,480 Speaker 13: the market is closely watching because if that is affected, 413 00:24:05,880 --> 00:24:09,280 Speaker 13: that has wide raging implications, not just for oil but 414 00:24:09,320 --> 00:24:10,240 Speaker 13: the global economy. 415 00:24:11,160 --> 00:24:14,199 Speaker 2: Yeah, what do you think OPEK is going to be 416 00:24:14,320 --> 00:24:18,560 Speaker 2: thinking at this point and doing obviously IPEK including Russia 417 00:24:18,560 --> 00:24:20,800 Speaker 2: which is one of Iran's key allies. 418 00:24:21,040 --> 00:24:23,040 Speaker 13: Yeah, I mean, how much more oil can they add 419 00:24:23,040 --> 00:24:26,480 Speaker 13: into the market? Right, So they've been adding barrels back 420 00:24:26,760 --> 00:24:29,359 Speaker 13: over the last few months, a lot in the market 421 00:24:29,760 --> 00:24:32,080 Speaker 13: thought that this wasn't needed, was kind of adding to 422 00:24:32,119 --> 00:24:34,600 Speaker 13: the glut. But now where we're in a situation where 423 00:24:34,600 --> 00:24:37,760 Speaker 13: potentially you could have curb supply from Saudi Arabia because 424 00:24:37,760 --> 00:24:39,679 Speaker 13: a lot of Saudi crub goes through the Strait of 425 00:24:39,680 --> 00:24:43,120 Speaker 13: Hormuz as well as others, maybe there will be other 426 00:24:43,200 --> 00:24:46,480 Speaker 13: countries stepping up to fill the gap. Now, if you're 427 00:24:46,520 --> 00:24:50,440 Speaker 13: taking thirty percent of seaborn crude trade off the market, 428 00:24:50,640 --> 00:24:53,000 Speaker 13: OPEK plus isn't able to come in and quickly replace 429 00:24:53,000 --> 00:24:56,400 Speaker 13: all of that. But if we're talking delays, maybe some 430 00:24:56,440 --> 00:25:00,520 Speaker 13: canceled shipments, that's a lot easier to die just and 431 00:25:00,560 --> 00:25:03,040 Speaker 13: take if other OPEC members kind of kind of step in. 432 00:25:03,800 --> 00:25:07,000 Speaker 13: So I think that's something that will be discussed, as 433 00:25:07,000 --> 00:25:12,159 Speaker 13: well as just pressuring Around and others to not close it, 434 00:25:12,880 --> 00:25:16,520 Speaker 13: because clearly they want around to have a measured approach 435 00:25:16,560 --> 00:25:19,600 Speaker 13: here and closing the strait of hormones doesn't help anyone 436 00:25:19,600 --> 00:25:20,119 Speaker 13: in the region. 437 00:25:22,119 --> 00:25:24,840 Speaker 1: This is Bloomberg Daybreak Europe, your morning brief on the 438 00:25:24,920 --> 00:25:27,960 Speaker 1: stories making news from London to Wall Street and beyond. 439 00:25:28,240 --> 00:25:32,200 Speaker 2: Look for us on your podcast feed every morning, on Apple, Spotify, 440 00:25:32,320 --> 00:25:34,240 Speaker 2: and anywhere else you get your podcasts. 441 00:25:34,280 --> 00:25:37,320 Speaker 1: You can also listen live each morning on London Dab Radio, 442 00:25:37,359 --> 00:25:40,080 Speaker 1: the Bloomberg Business app, and Bloomberg dot Com. 443 00:25:40,080 --> 00:25:42,880 Speaker 2: Our flagship New York station is also available on your 444 00:25:42,880 --> 00:25:47,600 Speaker 2: Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty. 445 00:25:47,840 --> 00:25:49,320 Speaker 2: I'm Caroline Hepka. 446 00:25:49,000 --> 00:25:51,439 Speaker 1: And I'm Stephen Carroll. Join us again tomorrow morning for 447 00:25:51,560 --> 00:25:53,960 Speaker 1: all the news you need to start your day right 448 00:25:54,000 --> 00:25:55,280 Speaker 1: here on Bloomberg day Break. 449 00:25:55,280 --> 00:25:57,800 Speaker 12: Europe