Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning.
Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 3: stories we're following today.
Speaker 2: Karen, there are new tensions between the US and Iran
Speaker 2: less than forty eight hours before a fragile ceasefire is
Speaker 2: set to run out.
Speaker 4: VAK your engine room, VAK your engine room.
Speaker 5: We're prepared to subject you to disabling fire.
Speaker 2: US Central Command posted that video of the Navy firing
Speaker 2: upon then seizing any Iran flagged cargo ship in the
Speaker 2: Gulf of Oman. It's the first time the US has
Speaker 2: taken over a vessel since the blockade of the Strait
Speaker 2: of Hormos began last week. It's casting doubt on talks
Speaker 2: that President Trump had promised would seal the deal with
Speaker 2: Iran tomorrow night. Bloomberg's Jumana Borsecci has more from Dubai.
Speaker 6: This is a situation we're in right now. From optimism
Speaker 6: on Friday and perhaps some vessels preparing themselves for passing
Speaker 6: through these street safely had to u turn and now
Speaker 6: we're back to Stanstil again. Essentially, no vessels, no ships,
Speaker 6: nothing is being passed through. And not only is there
Speaker 6: concern about what instructions to get from either side, whether
Speaker 6: it's the Iranian Revolutionary Guard or whether it's the US,
Speaker 6: but also real concerns about safety given the mounting dangers involved.
Speaker 2: Bloomberg's Juman Ebersetti reports President Trump is once again threatening
Speaker 2: to destroy all of Iran's power plants and bridges if
Speaker 2: talks fail. Iran's Foreign ministry says it still hasn't decided
Speaker 2: if it's taking part. It says Iran's armed forces will
Speaker 2: respond to any quote new adventure well Nathan.
Speaker 3: The White House still says Vice President Jdvans will head
Speaker 3: to Islama band to night to lead a second round
Speaker 3: of talks along with Envoys Steve Whitcoff and Jared Kushner.
Speaker 3: John Finer was chief of staff the former Secretary of St.
Speaker 3: John Kerry when he negotiated the twenty fifteen nuclear deal
Speaker 3: with Iran. He says talks with Taran are never going
Speaker 3: to be easy.
Speaker 7: Negotiations with the Iranians take time, they take patients, they
Speaker 7: take expertise, and air dropping the Vice President into Pakistan.
Speaker 4: For one day was never going to get the job done.
Speaker 3: And former Trump Defense Secretary Mark Esper says it's unclear
Speaker 3: whether the two sides will even talk this week.
Speaker 7: The President's been saying that we're very very close to
Speaker 7: a deal, that it's that they want it really badly.
Speaker 7: And then what you hear coming out of Iran as
Speaker 7: recently as last twenty four hours, where the lead negotiator,
Speaker 7: Speaker Glibaf, has said, yes, progress was made in Islamabad
Speaker 7: last week, but we are far from a significant There
Speaker 7: are significant differences between our negotiating positions.
Speaker 3: Mark Esper and John Finder, we're guests on Bloomberg this weekend.
Speaker 3: Catch the show Saturdays and Sundays from seven am Eastern
Speaker 3: on Bloomberg Radio and Television and the Bloomberg Business app.
Speaker 8: Karen.
Speaker 2: Stocks are falling in oil is rising on the latest
Speaker 2: war developments. SMP futures are trading at seventy one twenty
Speaker 2: nine right now. That's the drop of about a half percent.
Speaker 2: US Texas Intermediate right now is up five point seven percent,
Speaker 2: trading at eighty eight to sixty five. A barrel Brent
Speaker 2: is up five percent at ninety five dollars.
Speaker 8: Even.
Speaker 2: Bloomberg Intelligence Senior commodity strategist Mike McGlone says oil prices
Speaker 2: are in a new range that will eventually decrease, but
Speaker 2: not for a while.
Speaker 9: Given the recent news, is probably going to be up
Speaker 9: a little bit. But I think oil is stuck in
Speaker 9: a new range now between eighty and one hundred. If
Speaker 9: we stay above one hundred, that breaks things. We're seeing
Speaker 9: what happens when crudeil rallies at such high velocity. The
Speaker 9: whole global economy is tilting downward. GDP estimates are lower.
Speaker 9: Stays above one hundred, it'll make it go lower blow eighty.
Speaker 9: I think eventually it'll get there, but not right now.
Speaker 2: Bloomberg Intelligence Senior commodity strategist Mike McGlone says oil has
Speaker 2: risen thirty three percent since the start of the war.
Speaker 3: Now to a developing story Nathan, A tsunami warning has
Speaker 3: been issued for Japan's northeast coast after a seven point
Speaker 3: four earthquake hit the region, and Bloomberg's John Hirskovitz has
Speaker 3: the latest from Tokyo.
Speaker 4: We have the tsunami warning that's been issued for a
Speaker 4: large parts of the northeast coast, especially around the Ewaatee area.
Speaker 4: This was the part that was hit was devastated by
Speaker 4: the twenty eleven tsunami. The warning is up for up
Speaker 4: to three meters for areas of ewate.
Speaker 3: And bloomerge down. Hrskobat says in twenty eleven, a magnitude
Speaker 3: nine point zero earthquake and tsunami caused more than twenty
Speaker 3: two thousand deaths and forced nearly half a million people
Speaker 3: to flay their homes.
Speaker 2: In Europe, Karen, Bulgaria's former president Roman Radif, has claimed
Speaker 2: an overwhelming victory in his country's general election. His Progressive
Speaker 2: Bulgaria Party, which opposes sanctions on Russia and military aid
Speaker 2: for Ukraine, is headed for an outright majority in the
Speaker 2: eighth general election in Bulgaria since twenty twenty one.
Speaker 3: Well back here in the US, Nathan tragedy in Louisiana
Speaker 3: and the deadliest mass shooting in the country in more
Speaker 3: than two years, A father killed eight children, including seven
Speaker 3: of his own, and shot two women in two homes
Speaker 3: in Shreveport, Louisiana. Shreveport Police Corporal Chris Bordalan spoke to
Speaker 3: CBS News about the situation.
Speaker 10: He drove into a neighborhood and exited the vehicle, and
Speaker 10: initial indication as.
Speaker 3: He produced a handgun who returned fire ultimately killing the suspect.
Speaker 3: Shreveport Police Corporal Chris Bordelan said the gunman was identified
Speaker 3: as thirty one year old a Shamar Elkins. A cousin
Speaker 3: said one of the women was married to the shooter
Speaker 3: and they had been arguing about a separation and were
Speaker 3: due in court. Today's turn to other news.
Speaker 2: Now this morning, Karen, it is Patriots Day in Boston,
Speaker 2: and that means in just a few hours, tens of
Speaker 2: thousands of runners will pound the pavement for the Boston Marathon.
Speaker 2: Bloomberg's Monica Ricks checked out the lineup.
Speaker 11: More than thirty thousand runners from all over the world
Speaker 11: we'll be running this year's Boston Marathon, and retired astronaut
Speaker 11: Sonny Williams will be one of them. This will be
Speaker 11: her second Boston Marathon, but her first on Earth. Back
Speaker 11: in two thousand and seven, Williams ran it tethered to
Speaker 11: a treadmill aboard the International Space Date and her time
Speaker 11: wasn't bad. She did it in four hours and twenty
Speaker 11: four minutes. Now today, Williams will also receive the annual
Speaker 11: Patriots Award from the Boston Athletic Association for her inspiration
Speaker 11: and service past recipients include former Boston mayor Marty Walsh,
Speaker 11: former New England Patriots star Rob Gronkowski and Patriots owner
Speaker 11: Robert Kraft, and Red Sox legend David Big Poppy or
Speaker 11: Tease Monica Ricks Bloomberg Radio.
Speaker 3: All right, Monica, thank you, Let's turn back to the
Speaker 3: economy now. The Senate Banking Committee is slated to holiday
Speaker 3: confirmation hearing tomorrow for President Trump's pick to be the
Speaker 3: next chairman of the Federal Reserve. Bloomberg's Tom Busby has
Speaker 3: more on what to look for well.
Speaker 5: The hearing for former Federal Reserve Governor Kevin Walsh will
Speaker 5: likely focus on his thoughts about where interest rates should be.
Speaker 5: Look for discussions about maintaining the Fed's independence from President Trump.
Speaker 5: Also Warsh's desired a free up capital with a sharp
Speaker 5: rollback in the Fed's massive crisis era balance sheet, and
Speaker 5: his support for rolling back the fed's requirements for bank
Speaker 5: liquidity levels. Also for his financial filings that showed he's
Speaker 5: worth at least one hundred and ninety two million dollars
Speaker 5: maybe more, and that his wife Jane Lauder, a granddaughter
Speaker 5: of the cosmetics firm founder Essay Lauder, could be worth billions.
Speaker 5: Tom buzby Bloomberg Radio.
Speaker 3: Time Now for look at some of other stories making
Speaker 3: news in New York and around the world. And for
Speaker 3: that we're joined by Bloomberg's Michael Barr Michael, Good Morning.
Speaker 12: Good morning, Karen. Senate Minority Leader Chuck Schumer says he
Speaker 12: is outraged over FIFA's plan to charge World Cup fans
Speaker 12: one hundred and fifty dollars for train tickets. Mettlive Stadium
Speaker 12: in New Jersey is hosting eight World Cup matches, including
Speaker 12: the final, and the only way to get to the
Speaker 12: stadium will be by taking a New Jersey Transit train
Speaker 12: from Penn Station, New York. Schumer said NJ Transit is
Speaker 12: paying forty eight million dollars to transport World Cup fans
Speaker 12: while FIFA pays nothing.
Speaker 8: So FIFA is forcing every fan onto public transit and
Speaker 8: then saying you got to pay one hundred and fifty
Speaker 8: dollars to help New Jersey Transit carry them.
Speaker 4: What the hell? Who the hell do they think they are.
Speaker 12: Senator Schumer says FIFA should cover the cost of getting
Speaker 12: fans to the World Cup at Medlife Stadium. New York
Speaker 12: mayors are on Mamdanie Hail to proposed annual surcharge on
Speaker 12: some owners of second homes in the city as an
Speaker 12: important step in his pledge to raise taxes on the wealthy.
Speaker 12: Mamdannie on NBC's Meet the Press Sunday, says he believes
Speaker 12: in the importance of taxing the rich.
Speaker 10: I tell them, unless they make more than a million
Speaker 10: dollars a year, or own some of the most profitable
Speaker 10: corporations in our city, or have a second home that's
Speaker 10: worth more than five million dollars, than these are not
Speaker 10: taxes that apply to them. And what I've sought to
Speaker 10: make this city the most expensive in the United States
Speaker 10: of America is one that's affordable for the people who
Speaker 10: have been priced out of it.
Speaker 12: NBC's Meet the Press is heard Sundays on Bloomberg. The
Speaker 12: first American pot Iff, Pope Leo, is wrapping up his
Speaker 12: eleven day landmark papal trip to Africa. Throughout it, he
Speaker 12: has made a consistent call for peace and unity. More
Speaker 12: than a fifth of the world's Catholics are in Africa
Speaker 12: and a driving force our young people. Pope Leo is
Speaker 12: expected to meet with the Catholic leaders in Angola before
Speaker 12: he heads to the Equatorial Guinea on Tuesday for the
Speaker 12: final stop in his papal trip. Global news twenty four
Speaker 12: hours a day and whenever you want it with Bloomberg
Speaker 12: News Now Michael Barr and this is Bloomberg Karen.
Speaker 5: Thanks Michael.
Speaker 3: Time now for our Bloomberg Sports update, and for that
Speaker 3: we bring in John stash Hour.
Speaker 7: Thanks Dared.
Speaker 8: One surprise in the NBA playoffs, eighth seed of Orlando
Speaker 8: won at top seeded Detroit one twelve to one oh
Speaker 8: one in Game one of that series. The Buffalo Sabers
Speaker 8: first Stanley Cup playoff game in fifteen years. They trailed
Speaker 8: the Bruins two nothing with eight minutes ago. The scored
Speaker 8: four goals in seven minutes. The Sabers won four to three.
Speaker 8: The Cubs beat the Mets two to one, and ten
Speaker 8: means the Mets have lost eleven games in a row.
Speaker 8: The Heritage Golf in Hilton Head went to a playoff
Speaker 8: in Matt Fitzpatrick burnied on the first extra hole to
Speaker 8: beat Scottie Scheffler. That's your Bloomberg Sports update.
Speaker 3: Stay with us. More from Bloomberg day Break coming up
Speaker 3: after this.
Speaker 1: Coast to Coast on Bloomberg Radio Nationwide on Sirius XM
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business Appum. This is Bloomberg Daybreak.
Speaker 2: Good morning. I'm Nathan Hager, monitoring developing news off the
Speaker 2: coast of northeast Japan, where a powerful earthquake has sparked
Speaker 2: tsunami warnings and a part of the country devastated by
Speaker 2: shaking and waves more than a decade ago. Joining us
Speaker 2: from Tokyo is Bloomberg's John Hirskowitz. John, Good morning, What
Speaker 2: do we know about this quake? What's the latest.
Speaker 4: Short The quake came in at a magnitude of seven
Speaker 4: point five, It hit offshore, and right now the tsunami
Speaker 4: wave is coming in in various parts of Japan. The
Speaker 4: warning was up to three meters this is about ten
Speaker 4: feet one story of a building. But the actual tsunami
Speaker 4: that's come ashore, the highest point so far we've seen
Speaker 4: is at eighty centimeters, so that's good news. It's not
Speaker 4: as big so far as the warning has been up
Speaker 4: and down the coasts. There are sea walls which should
Speaker 4: contain the tsunami as it comes in, but the warning
Speaker 4: is still in effect. So we've seen this. We've seen
Speaker 4: the prime minister. The Meteorological Agency warned people to get
Speaker 4: to higher ground. We've seen trains being service being delayed
Speaker 4: cut off. The Meteorological Agency of Japan has warned that
Speaker 4: we could see similar strong quakes for about a week
Speaker 4: in this area. So the warning is still up there.
Speaker 4: For the tsunami, the warning is still up for three meters,
Speaker 4: but so far what's coming shore has the highest point
Speaker 4: has been eighty centimeters in Kouji Inywate. This is the
Speaker 4: place that was devastated in twenty eleven by the earthquake tsunami.
Speaker 4: Lower down the coast is Fukushima where the nuclear plant
Speaker 4: had the meltdown disaster. So so far, no abnormalities or
Speaker 4: any power plants, so everything it's of concern, but so
Speaker 4: far nothing devastating as we saw in twenty eleven.
Speaker 2: I think you were there in twenty eleven, weren't you
Speaker 2: in that awful Fukushima disaster. It sounds as though things
Speaker 2: might not be as bad as they were then, but
Speaker 2: put it into that context for us.
Speaker 4: Sure, I went a few days after the tsunami hit
Speaker 4: in twenty eleven up and down the coast and it
Speaker 4: was just absolute devastation and you could see you're driving
Speaker 4: on a road and there is a tanker in the
Speaker 4: middle of the road. Everything was just stirred up. Your
Speaker 4: GPS didn't work because the roads no longer existed over
Speaker 4: a block. There were devastating fires that came out of
Speaker 4: the tsunami, and it was just absolute devastation for so
Speaker 4: many for all up and down the cost. After that,
Speaker 4: Japan rebuilt. I went back there a few years ago.
Speaker 4: There are sea walls in place at a much higher level.
Speaker 4: The power plants have had various furnishings that make them
Speaker 4: safer than before. The people are concerned. When the warning
Speaker 4: comes in, people get to high ground as quickly as possible.
Speaker 4: Is it's a serious matter when the waves may be
Speaker 4: coming in not as high as predicted, but the devastation
Speaker 4: that was there before. I think there was up to
Speaker 4: twenty thousand people killed or missing from that tsunami, so
Speaker 4: it is a huge concern. So far, things are serious,
Speaker 4: but we're not at anywhere near the level that we
Speaker 4: saw in twenty eleven.
Speaker 2: Okay, So this earthquake was in the northeast or off
Speaker 2: the northeast coast of Japan. You're in Tokyo to the southeast,
Speaker 2: just quickly, John, did you feel it from where you are?
Speaker 4: Yeah, I'm in the Bloomberg office. It's on the twenty
Speaker 4: second serve of a building. The building was swaying a bit.
Speaker 4: The elevators were cut off for maybe about twenty thirty minutes,
Speaker 4: so we felt it here. The Japan uses an intensity
Speaker 4: scale which measures the shaking on the ground. Seven is
Speaker 4: the highest. This is like absolute devastation. In Iwate Prefecture,
Speaker 4: it came in at about a five. In Tokyo it
Speaker 4: was a three, which meant that we could feel it,
Speaker 4: but no real damage to structures. Iwate, they may see
Speaker 4: some damage structures, but not at the highest level, which
Speaker 4: would be a seven. So magnitude and intensity. Japan uses
Speaker 4: two scales. Earthquake at seven point five magnitude. The intensity
Speaker 4: was about a five at the worst.
Speaker 2: Okay, Well, appreciate you coming on with us, John and
Speaker 2: bringing us the very latest on what is happening in
Speaker 2: Japan this morning evening in Japan. That's Bloomberg's John Hirskovitz
Speaker 2: joining us this morning of the earthquake from Tokyo this morning.
Speaker 2: But now we want to turn to the major story,
Speaker 2: and of course that is the ceasefire between the US
Speaker 2: and Iran with less than forty eight hours until it's
Speaker 2: due to expire, there is new uncertainty about where the
Speaker 2: war goes from here after the US seized an Iran
Speaker 2: backed cargo ship over the weekend, joining US from Dubai.
Speaker 2: Now is Bloomberg Middle East correspondent Jumana Bursecci, the anchor
Speaker 2: of Bloomberg Horizons. And of course, before these latest developments
Speaker 2: over the weekend, Jumana, there were a lot of hopes
Speaker 2: that there were going to be talks as soon as
Speaker 2: tomorrow between the US and Iran. Where do things stand now?
Speaker 6: Good morning, Absolutely, good morning. There's a lot to wait
Speaker 6: through from this weekend. You know, a lot of optimism
Speaker 6: on Friday afternoon after a series of posts that President
Speaker 6: Chump put up almost suggesting that the war was over.
Speaker 6: But then of course things turned around over the course
Speaker 6: of the weekend and this morning, as you were just
Speaker 6: talking about, we know that Sancom actually seized an Iranian
Speaker 6: linked vessel in implementation of their own blockade that is
Speaker 6: still going throughout the Strait of Homos, so the street
Speaker 6: is still effectively shot. But at the same time, the
Speaker 6: US side has indicated that they plan to go ahead
Speaker 6: with these talks in Islamabad. The plan is for Jdevans
Speaker 6: once again to lead the discussions alongside Steve Witkoff and
Speaker 6: Jared Kushner, and that they are expected to leave the
Speaker 6: US tonight, so tonight US time, landing in Islamabad tomorrow
Speaker 6: morning for discussions. However, the Iranian side are being COI
Speaker 6: we just don't know at this point whether they plan
Speaker 6: on attending. We heard from the Iranian Form ministry spokesperson
Speaker 6: about an hour ago and he said no final decision
Speaker 6: had been made. Over the course of the weekend. The
Speaker 6: speaker of the parliament, Mahma Galimov, did suggest that the
Speaker 6: progress had been made, but there was still a lot
Speaker 6: of daylight between the two sides. And then more recently
Speaker 6: this morning, the Iranian President Paseshkian said there is no
Speaker 6: appetite for a return to fighting and that all rational
Speaker 6: and diplomatic revenues should be used to reduce tensions. So
Speaker 6: you can piece all the messaging together, which suggests that
Speaker 6: there is perhaps still hope that the Iranian delegation show
Speaker 6: up to these meetings. They just haven't confirmed it yet.
Speaker 2: Well, and there's still a question, isn't there about whether
Speaker 2: the ceasefire is still in effect. We've heard some commentary
Speaker 2: from the Iranian side that they consider the seizure of
Speaker 2: this cargo ship of potential violation.
Speaker 6: Yes, and I think that was the big question as
Speaker 6: we walked in this morning, just exactly how the Iranians
Speaker 6: would respond and the IRGC, which is of course the
Speaker 6: military wing, and earlier I was referencing a lot of
Speaker 6: comments from the official side of around the Iranian delegation.
Speaker 6: But the IRGC are livid that the US actually went
Speaker 6: ahead and seized the vessel. They vowed to retaliate. So far,
Speaker 6: we have not seen that retaliation. Remains to be seen
Speaker 6: what it's going to look like and if that would
Speaker 6: really amount to another military estillation or a repeat of
Speaker 6: some of the hostilities that we saw a couple of
Speaker 6: weeks ago. One other thing that I would just say
Speaker 6: as well, as President Trump also suggested that once again,
Speaker 6: if there is no breakthrough this time around, he's threatening
Speaker 6: to once again attack power plants and a key civilian
Speaker 6: infrastructure in Iran. So sort of a repeat of the
Speaker 6: threat that we had a couple of weeks ago, and
Speaker 6: unlikely that that has gone down well either in Iran.
Speaker 6: So they have to make a decision between the two
Speaker 6: factions here, the military wing who want to respond to
Speaker 6: the US provocations, and then the diplomatic wing who have
Speaker 6: been representing Iran at these talks that seem to indicate
Speaker 6: that they want to continue and go down the path
Speaker 6: of diplomacy as opposed to further military escalation.
Speaker 2: That raises another overriding question that's been hovering over this
Speaker 2: for so many weeks, if not months, as to which
Speaker 2: of those wings speaks for the Iranian government as a whole.
Speaker 2: But even if these talks were to get underway tomorrow
Speaker 2: in Islamabad Jumana, the two sides are still very far
Speaker 2: apart on the fundamental issues.
Speaker 12: Aren't they.
Speaker 6: Yeah. And the fundamental issue, of course, is not just
Speaker 6: the strait. And by the way, the straight reopening was
Speaker 6: one of the key features of the ceasefire that was
Speaker 6: supposed to be implemented a couple of weeks ago, and
Speaker 6: the strait never fully reopened. I should just remind everybody,
Speaker 6: But the fundamental issue here is nuclear ambition, and of course,
Speaker 6: you know, the US are pushing for maximum concessions out
Speaker 6: of the Iranian side, and over the course of the weekend,
Speaker 6: once again, the Iranian State TV repeated that what the
Speaker 6: US are asking for is too maximalist for them, and
Speaker 6: of notes, here is number one their nuclear ambition in
Speaker 6: terms of the amount of enrichment that the US will
Speaker 6: allow for them to continue with, and the Iranian position
Speaker 6: has always been that they should be allowed for a
Speaker 6: low level of uranium enrichment for civilian purposes. And then
Speaker 6: the second big question is what happens that fate of
Speaker 6: the enriched stockpile that they're already sitting on, which is
Speaker 6: more than four hundred kilos worth or one thousand pounds.
Speaker 6: And again they've repeated the message over the weekends that
Speaker 6: there are no plans to transfer it outside the country.
Speaker 6: There are multiple media reports suggesting that a deal had
Speaker 6: been struck. And then the final point is what the
Speaker 6: US plan to do with those sanctions and whether some
Speaker 6: deal would entail a lifting of sanctions or unfreezing Iranian
Speaker 6: assets around the world. At this point we don't know,
Speaker 6: but we do have a better understanding of what the
Speaker 6: framework of the discussion is.
Speaker 3: This is Bloomberg Daybreak, your morning podcast on the stories
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Speaker 2: here on Bloomberg Da Bray