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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, The ceasefire between the US and Iran once again

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Speaker 3: looks fragile this morning. Overnight, the US struck Iranian vessels

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Speaker 3: in the Strait of Hormus and other targets, and Iran's

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Speaker 3: semi official TOSNIM news agency says the Islamic Revolutionary Guard

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Speaker 3: corpse shot down a US drone and fired at an

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Speaker 3: American fighter jet in Iranian airspace. All this hours after

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Speaker 3: President Trump suggested on social media that talks to extend

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Speaker 3: the truce and reopen the strait we're, in his words,

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Speaker 3: proceeding nicely. Secretary of State Marco Rubio addressed the situation

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Speaker 3: during his trip to India.

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Speaker 4: The President's not going to make a bad deal. He's

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Speaker 4: just not this issue.

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Speaker 5: No one has done more, and no one has been

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Speaker 5: more serious about the threat of a nuclear Iran than

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Speaker 5: President Trump has been.

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Speaker 3: Secretary of State Marco Rubio speaking to reporters in New Delhi.

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Speaker 3: We get more from Bloomberg's Paul Wallace in Dubai.

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Speaker 6: We've had Marco Rubio this morning since those strikes again

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Speaker 6: talking of progress. He's saying that the US and Iran

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Speaker 6: are still inching towards a deal. He says it's going

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Speaker 6: to take a few more days. In all likelihood, there's

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Speaker 6: no guarantee they can get over the line. There's still

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Speaker 6: a lot of details they have to work out.

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Speaker 3: And Bloomberg's Paul Wallas reports Iran Supreme leaders raising the

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Speaker 3: pressure as well. In a written statement much to Bahamni

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Speaker 3: warns that the Middle East will no longer be a

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Speaker 3: shield for American bases.

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Speaker 2: Well Nathan, Israel is carrying out new attacks as well.

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Speaker 2: Lebanon state run news agency reports an Israeli airstrike killed

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Speaker 2: twelve people in a village in the Becca Valley of

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Speaker 2: eastern Lebanon. Israeli Prime Minister Benjamin Etnia, who had authorized

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Speaker 2: more intensive strikes targeting the Iran back hezbela militant group.

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Speaker 2: The Israeli military is not commenting on this specific attack,

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Speaker 2: but says it is targeting Hezbola infrastructure in eastern Lebanon.

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Speaker 3: And there are new developments this morning Karen in the

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Speaker 3: Russia Grain War, Russian Foreign Minister Sergei Lavrov has called

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Speaker 3: Secretary of State Mark Rubio, advising him to evacuate US

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Speaker 3: citizens and diplomats from Kiev. Tony Halpin leads Bloomberg's Russian

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Speaker 3: Economy and Government Team.

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Speaker 7: Russia is signating it stepping up attacks because the war

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Speaker 7: isn't going very well for Vladimir Putin. The front line

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Speaker 7: is not really moving in Russia's favor. Despite the spring

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Speaker 7: arrival of better weather that would signal an intensification of

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Speaker 7: Russia's offensive, Ukraine has managed to blunt that and in

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Speaker 7: some areas has even managed to push Russia back a

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Speaker 7: little bit. Ukraine is embarrassing President Pushing by continuing a

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Speaker 7: very wide level of strikes in Russia using drones, attacking

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Speaker 7: refineries and factories. And last weekend there was a very

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Speaker 7: large scale attack in Moscow itself, which brought a lot

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Speaker 7: of criticism from Muscovites that their government wasn't really defending

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Speaker 7: them and this war is going very badly from their

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Speaker 7: point of view, and why is it still going on?

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Speaker 3: Bloomberg Tony Happin says more than sixteen months of diplomacy

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Speaker 3: from the Trump administration have failed to reach a breakthrough

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Speaker 3: between the two sides.

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Speaker 2: Well, turning to domestic politics, Nathan, this is a big

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Speaker 2: day in the race for control of the Senate in November.

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Speaker 2: Republicans in Texas are headed to the polls to end

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Speaker 2: a bitter and drawn out runoff election between four term

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Speaker 2: incumbent John Cornyn and state Attorney General Ken Paxton, who

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Speaker 2: picked up President Trump's endorsement just last week. Cornyan says

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Speaker 2: he still has what it takes to win.

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Speaker 8: Well, I think I can help maintain the Senate seat

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Speaker 8: in Republican hands. I won in twenty twenty by ten points.

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Speaker 8: Ken Paxton, as you know, is a flawed candidate. He's

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Speaker 8: got scandal that follows him everywhere.

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Speaker 2: And Republican Senator John Cornyn appeared on Fox News. Paxton

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Speaker 2: settled state securities fraud charges in twenty fifteen and was

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Speaker 2: impeached and acquitted in twenty twenty three, and his wife

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Speaker 2: filed for divorce during his Senate campaign. Cornyn beat Paxton

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Speaker 2: by about one percentage point in the March primary, but

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Speaker 2: neither reached the fifty percent to win that no nation.

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Speaker 2: Whoever wins tonight, will face Democrat James tall Rico in November.

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Speaker 3: Karen, let's turn now to the world of sports. New

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Speaker 3: York Knicks fans are partying like it's nineteen ninety nine

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Speaker 3: this morning. For more, let's bring in Bloomberg sports reporter

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Speaker 3: John stash Our, Good morning, Stash.

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Speaker 1: Him morning, Nathan. Since that year, those fans haven't dared

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Speaker 1: some very bad Nick teams will now they've got a

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Speaker 1: very good win, a team that keeps winning by a

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Speaker 1: lopsided scores. When Game four in Cleveland, end of the

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Speaker 1: Knicks won by thirty seven.

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Speaker 9: Believe that Nick fans for the first time in twenty

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Speaker 9: seven years.

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Speaker 10: But New York Decks are going to the NBA Finals.

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Speaker 9: The dream season continues, and hopes of ending a decade's

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Speaker 9: long championship drought are very much a.

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Speaker 1: Long ESBN had the call after a second straight series

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Speaker 1: sweep Knicks, We'll bring an eleven game winning straight to

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Speaker 1: the finals, which will begin a week from tomorrow. Much

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Speaker 1: work coming up in sports, John stash thatware Bloomberg Radio.

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Speaker 2: All right, John, thank you. Returned to the markets now,

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Speaker 2: where futures are higher as you begin the holiday shortened

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Speaker 2: trading week. The Dow Jones industrial average at a record high,

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Speaker 2: the SNP five hundred, coming off eight straight weekly gains.

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Speaker 3: And Karen Kevin Walsh is beginning his first full week

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Speaker 3: as chairman of the Federal Reserve. Bloomberg's John Tucker joins

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Speaker 3: us with more on the new Warsh era, John.

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Speaker 4: And He's got his work cut out for him, Nathan.

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Speaker 4: With President Tromp dead set on lower rates, bond investors

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Speaker 4: are betting Warsh will focus on fighting inflation, and that

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Speaker 4: pretty much rolls out a raid cut. Navian Segel is

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Speaker 4: with black Rock the monkets expecting a hike. I think

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Speaker 4: you know, some of the tailwinds in the US economy

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Speaker 4: certainly suggest a strong economy. As AIKFX, Warsh assumes leadership

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Speaker 4: is a growing number of other FED officials abandoned their

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Speaker 4: easing bias with a Grand War unleashing the biggest inflation

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Speaker 4: surge since twenty twenty three. Traders are pricing in the

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Speaker 4: Fed is virtually certain to start raising rates by December

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Speaker 4: two year. Treasury yields, the most sensitive to head policy expectations,

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Speaker 4: climb to as much as four point one four percent Friday.

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Speaker 4: That's the highest in more than a year, although this morning,

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Speaker 4: treasuries aren't catching it big. In New York On John

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Speaker 4: Tucker Bloomberg.

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Speaker 2: Radio, all right, John, thank you well. Pope Leo is

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Speaker 2: adding his voice to a heated debate over the extent

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Speaker 2: to which governments should regulate artificial intelligence, and a landmark

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Speaker 2: address to the Catholic Church, the Pope said, the powerful

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Speaker 2: tool requires rules to protect human dignity and a common good.

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Speaker 5: Artificial intelligence needs to be disarmed. The word is strong,

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Speaker 5: I know, but deliberately chosen because this moment needs words

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Speaker 5: capable of attracting attention, awakening consciences, and indicating paths forward.

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Speaker 2: The Pope says, AI needs to be freed from monopolistic control,

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Speaker 2: shifting away from using it to achieve geopolitical or commercial gains.

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Speaker 1: Well.

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Speaker 3: Staying in Rome, Karen Ferrari has unveiled its first fully

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Speaker 3: electric car. Five seat model costs six hundred and forty

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Speaker 3: thousand dollars. It hit sixty two miles an hour in

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Speaker 3: just two and a half seconds, But Ferrari shares are

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Speaker 3: going in reverse this morning. They're down more than six percent,

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Speaker 3: suggests investors been disappointed with the car's luck.

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Speaker 2: Time now for a look at some of the other

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Speaker 2: stories making news in New York and around the world,

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Speaker 2: and for that we're joined by Bloomberg's Michael Barr Michael,

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Speaker 2: Good Morning.

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Speaker 10: Good Morning Karen. Protesters clashed with federal agents outside in

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Speaker 10: ICE facility in Newark, New Jersey, amid reports of inhumane conditions.

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Speaker 10: Governor mikey Ryl and other elected officials joined demonstrators to

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Speaker 10: demand better care for the detainees. Some family members say

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Speaker 10: their loved ones are not receiving critical medication and pregnant

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Speaker 10: women are being ignored. The governor, who's calling for the

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Speaker 10: facility to be shut down, said she was turned away.

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Speaker 3: We've been working with ICE to get into the facility.

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Speaker 9: I was just denied that this morning.

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Speaker 11: I was hoping fly.

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Speaker 12: Well, we certainly will, and that's what I've committed to doing,

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Speaker 12: is continuing to try to do that.

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Speaker 10: The facility, Delaney Hall, is privately run with about three

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Speaker 10: hundred detainees. The head of the World Health Organization warned

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Speaker 10: that the rapidly growing ebola outbreak in the Democratic Republic

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Speaker 10: of Congo and Uganda will get worse before it gets better.

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Speaker 10: More than nine hundred cases and more than two hundred

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Speaker 10: twenty deaths have been reported in the Congo. Doctor Darien Sutton,

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Speaker 10: there are.

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Speaker 13: Many people who are skeptical of the aid that is

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Speaker 13: coming in. There have been extreme limitations in Bourne that

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Speaker 13: has been ongoing that leads to a lack of trust

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Speaker 13: within the community with public health workers, and so now

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Speaker 13: just throwing money at it is becoming exceptionally difficult as

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Speaker 13: it's causing a lot of fear, panic and turmoil within

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Speaker 13: the community that's already plagued by conflict as well as displacement.

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Speaker 10: Doctor Darien Sutton spoke on ABC's Start Here podcast. A

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Speaker 10: major turning point for residents in southern California who've been

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Speaker 10: forced from their homes due to a damaged chemical tank.

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Speaker 10: The thirty say there is no longer a risk of

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Speaker 10: a large explosion. Of the fifty thousand Garden Grove residents

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Speaker 10: originally ordered to evacuate, officials say about two thirds have

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Speaker 10: now been allowed to go home. News twenty four hours

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Speaker 10: a day and whenever you want it with Bloomberg News Now.

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Speaker 10: I'm Michael Barr, and this is Bloomberg Karen.

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Speaker 2: All right, Michael Barr, thank you time now for the

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Speaker 2: Bloomberg Sports Update. It's brought to you by Flushing Bank,

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Speaker 2: and here again is John stash Hour. John, Good morning,

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Speaker 2: Good morning.

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Speaker 1: Karen's shocking enough to win eleven consecutive playoff games it

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Speaker 1: only happened three times before, but even more so to

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Speaker 1: win almost all of them in blowout fashion. But that's

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Speaker 1: the way it's been going for the next for now

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Speaker 1: more than a month and more of the same game

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Speaker 1: four in Cleveland, He's McBride.

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Speaker 9: That's the three potter, Hart pushing shout to shoutout, fakes

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Speaker 9: a three sides, another three Potter pucks it in. Nick's

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Speaker 9: a red hot once again. Alvarado tries a three.

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Speaker 10: John's all the.

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Speaker 1: Flush, Yes, Ben the calls. That was part of a

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Speaker 1: twenty to nothing first half run. Nicks one thirty the

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Speaker 1: Cavs ninety three. They've won the eleven in a row

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Speaker 1: by an average of twenty four points. The three series

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Speaker 1: clinching road winds have been by an average of thirty

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Speaker 1: nine points. Everyone contributing, including Josh Hart.

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Speaker 11: This team is a very selfless, selfless group, and at

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Speaker 11: the end of the day, we know we're willing to

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Speaker 11: sacrifice our own individual performance of stats or accolades for

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Speaker 11: the betterment of the team. And when you have not

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Speaker 11: just one, two, or three, but a whole team of

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Speaker 11: those kind of guys and that kind of character. It

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Speaker 11: puts you in a position to be successful.

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Speaker 1: Off to the finals. Nick's await the West winner. Spurs

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Speaker 1: and Thunder tie to two at Game five tonight, tho

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Speaker 1: oksee the hockey much closer Carolina in Montreal a second

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Speaker 1: straight overtime game, a second straight three to two win

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Speaker 1: for the Hurricanes. They now lead the series two to one.

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Speaker 1: Baseball's first no HITTERSONCE twenty twenty four, the Houston Astros

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Speaker 1: won nine to nothing that Texas. Japanese rookie Tatsuya Emei

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Speaker 1: went the first six innings in the last two were

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Speaker 1: thrown by a Limbert Senta in his major league debut.

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Speaker 1: The Yankees on an Anthony Volpi to run single nineteennty one,

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Speaker 1: four to three at Kansas City. They're second straight Nineteenny win.

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Speaker 1: They gained on Tampa Bay, who lost a wild one

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Speaker 1: at Baltimore nine to seven and thirteen and ins of

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Speaker 1: the Mets Bats quiet again a seven to two home

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Speaker 1: loss of Cincinnati. John Stashawa Bloomberg Sports.

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Speaker 2: Karen stay with us more from Bloomberg Day Break coming

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Speaker 2: up after this.

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Speaker 3: Coast to coast on Bloomberg Radio nationwide on Sirius XM

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Speaker 3: and around the world on Bloomberg dot Com and the

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Speaker 3: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 10: Good morning.

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Speaker 3: I'm Nathan Hager on what appears to be a tenuous

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Speaker 3: ceasefire this morning between the US and Iran. The US

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Speaker 3: says it has carried out defensive strikes on Iranian vessels

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Speaker 3: in the Strait of Hormus and other locations, even as

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Speaker 3: President Trump Tout's progress on an interim deal. Secretary of

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Speaker 3: State Marco Rubio says the Strait remains a sticking point.

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Speaker 10: I need to reopen. What's happening there is unlawful.

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Speaker 12: It's illegal, it's unsustainable for the world.

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Speaker 3: That's unacceptable, and it was Secretary of State Marco Rubio

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Speaker 3: joining us this morning is Jumani Borsecchi, the Inchorloomberg Horizons

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Speaker 3: or Bloomberg Middle East correspondent. Great to have you with us, Jumani.

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Speaker 3: Can you catch us up on what's been happening in

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Speaker 3: just the last twenty four hours. It seems like there

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Speaker 3: have been strikes, encounter strikes to some extent. Good morning, Yeah.

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Speaker 12: I would describe it as a skirmish on the street overnight,

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Speaker 12: which is surprising given the background to all of this

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Speaker 12: as we know is that the negotiations are continuing. But

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Speaker 12: what we do know about the strike, Scent comput out

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Speaker 12: of comment this morning saying that they were acting in

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Speaker 12: a self defense capacity. The US targeted specifically missile launchers

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Speaker 12: alongside some mind laying vessels on the Iranian side. Now,

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Speaker 12: the Iranian media this morning also quoted the Iranian air

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Speaker 12: defense system is being activated and said that they had

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Speaker 12: shot down or targeted rather a US drone and an

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Speaker 12: unmanned fighter jet. So this has all gone down overnight

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Speaker 12: in the region. Now, I will just say that neither

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Speaker 12: side are showing an inclination of taking this one step further.

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Speaker 12: We haven't had follow up comments from Iran. There's been

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Speaker 12: no official commentary about exactly what happens with those US strikes.

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Speaker 12: And at the same time, you know, the diplomatic track continues,

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Speaker 12: and we know that the Iranian Speaker of the House,

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Speaker 12: Mohamed Ghalibaf, alongside the Ranian Foreign Minister a bus are

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Speaker 12: actually are actually in Doha in Kutar today to continue

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Speaker 12: with those diplomatic discussions. So in the background, there is

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Speaker 12: still hope somewhat of a breakthrough.

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Speaker 3: Now I do understand that there was a written statement

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Speaker 3: from Iran Supreme Leader Hameni warning that the you or

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Speaker 3: the Middle East will no longer be a safe haven

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Speaker 3: for American basis. Does that complicate things as far as

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Speaker 3: the behind the scenes talks go.

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Speaker 12: Yeah, I mean you also have to take it with

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Speaker 12: a pinch of salt, because the Supreme Leader has not

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Speaker 12: been seen since the war started, and that's been three

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Speaker 12: months now, So he tends to issue these messages on telegram,

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Speaker 12: and it is also unclear whether he's writing them himself.

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Speaker 12: But it should be noted that this is the start

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Speaker 12: of the II for any of the countries in the

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Speaker 12: Islamic world. In the our world, it's a long holiday period.

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Speaker 12: So he called on in his words, Islamic and Arab

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Speaker 12: countries to unite and at the same time issued this

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Speaker 12: threat to the US saying they will no longer have

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Speaker 12: a safe haven for mischief and the establishment of military

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Speaker 12: bases in the region. But the Iranian Supreme Leader, even

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Speaker 12: his father, is known for this type of rhetoric. The

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Speaker 12: takeaway is that this we shouldn't be reading too much

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Speaker 12: into it, but it is one of those sort of

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Speaker 12: customary threats that Iran will issue from time to time.

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Speaker 12: The bigger picture here is those indirect negotiations that are

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Speaker 12: still going on and these sticking points. There's still many

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Speaker 12: sticking points that remained between Iran and US, and whether

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Speaker 12: we can actually paper over those differences in the very

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Speaker 12: short time frame that Trump seemed to have suggested over

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Speaker 12: the weekend.

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Speaker 3: Just thirty seconds left Jumana. But even if we do

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Speaker 3: get something like a sixty day extension, which we understand

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Speaker 3: is part of this framework negotiation, how would that help

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Speaker 3: when uclear negotiations, Well.

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Speaker 12: It depends how many concessions the US are willing to

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Speaker 12: give up in Phase one in order to get the

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Speaker 12: street reopened. And this has been the sticking point and

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Speaker 12: why Trump also, i think, faced so much backlash back home,

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Speaker 12: because there was a suggestion that the US was giving

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Speaker 12: up too much for Iran to reopen the streets before

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Speaker 12: they've even gone onto the three year topic of what

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Speaker 12: happens with the nuclear file, the nuclear ambitions, and of

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Speaker 12: course the fate of that highly enriched stockpile. Overnight, Trump

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Speaker 12: saying that the stockpile will immediately be turned over to

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Speaker 12: the US to be brought home and destroyed or destroyed

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Speaker 12: in another place at another acceptable location. We just don't

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Speaker 12: have the details yet.

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Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories

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