1 00:00:02,600 --> 00:00:07,120 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:10,080 --> 00:00:13,280 Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 3 00:00:13,280 --> 00:00:15,000 Speaker 2: are the stories we're following today. 4 00:00:15,480 --> 00:00:18,640 Speaker 3: Karen, we'll have details on the latest intelligence reports around 5 00:00:18,680 --> 00:00:21,400 Speaker 3: the weekend US air strikes in Iran in a moment, 6 00:00:21,480 --> 00:00:23,760 Speaker 3: but we begin this morning with the race for New 7 00:00:23,800 --> 00:00:28,040 Speaker 3: York City mayor. Zorin Mumdani has declared victory in the 8 00:00:28,040 --> 00:00:31,840 Speaker 3: Democratic mayoral primary. Let's get the very latest with Bloomberg's 9 00:00:31,840 --> 00:00:33,279 Speaker 3: Lisa Matteo in Manhattan. 10 00:00:33,320 --> 00:00:34,920 Speaker 4: Good morning, Lisa, Good morning Nathan. 11 00:00:35,000 --> 00:00:37,199 Speaker 5: Yeah, it was an incredible showing for the thirty three 12 00:00:37,280 --> 00:00:40,960 Speaker 5: year old Queen's lawmaker, who was virtually an unknown before 13 00:00:41,080 --> 00:00:44,400 Speaker 5: rising in the polls against a crowded eleven candidate field. 14 00:00:44,840 --> 00:00:47,599 Speaker 5: Last night, former Governor Andrew Cuomo, who pitched himself as 15 00:00:47,600 --> 00:00:50,280 Speaker 5: a season moderate, conceded to his upstart rival. 16 00:00:50,560 --> 00:00:52,800 Speaker 4: Tonight was not our night. 17 00:00:53,800 --> 00:00:58,560 Speaker 6: Tonight was Assemblyman Mondanie's. 18 00:00:58,000 --> 00:01:01,560 Speaker 4: Night, and he put together a great care pain. 19 00:01:01,760 --> 00:01:04,800 Speaker 5: According to preliminary results from the City Board of Elections, 20 00:01:04,840 --> 00:01:07,679 Speaker 5: in the first round of rank choice voting, Mandami he 21 00:01:07,800 --> 00:01:10,640 Speaker 5: garnered forty three point five percent of the vote and 22 00:01:10,760 --> 00:01:14,199 Speaker 5: Couamo thirty six point four percent, now coming in third 23 00:01:14,240 --> 00:01:17,720 Speaker 5: place with City comptroll Or Brad Lander at eleven point 24 00:01:17,760 --> 00:01:22,160 Speaker 5: three percent. Lander and Mandami had cross endorsed each other. Mandami, 25 00:01:22,200 --> 00:01:24,840 Speaker 5: who has vowed to freeze rent, seek tax hikes on 26 00:01:24,880 --> 00:01:28,120 Speaker 5: corporations the wealthiest New Yorkers. He addressed a crowd of 27 00:01:28,120 --> 00:01:30,640 Speaker 5: supporters early this morning in Long Island City, Queens. 28 00:01:30,880 --> 00:01:35,000 Speaker 7: Together, we have shown the power of the politics of 29 00:01:35,040 --> 00:01:42,200 Speaker 7: the future, one of partnership and of sincerity. 30 00:01:42,600 --> 00:01:45,959 Speaker 5: But the results are not official. Under the city's rank 31 00:01:46,080 --> 00:01:48,840 Speaker 5: choice system, a Canada is declared the winner after receiving 32 00:01:48,880 --> 00:01:52,120 Speaker 5: more than fifty percent of the votes. The final result, well, 33 00:01:52,120 --> 00:01:55,040 Speaker 5: that will not be determined until July first, that's when 34 00:01:55,120 --> 00:01:58,880 Speaker 5: voters backup choices are scheduled to be tabulated, and Couamo 35 00:01:58,920 --> 00:02:00,720 Speaker 5: isn't out of the race just yet, telling The New 36 00:02:00,800 --> 00:02:03,520 Speaker 5: York Times that he was still considering whether to run 37 00:02:03,520 --> 00:02:07,200 Speaker 5: in the November election on an independent line. Mandami would 38 00:02:07,200 --> 00:02:09,880 Speaker 5: also face Mayor Eric Adams, who was running this time 39 00:02:09,880 --> 00:02:12,880 Speaker 5: as an independent, as well as Republican Curtis Sliwa and 40 00:02:12,960 --> 00:02:16,600 Speaker 5: independent Jim Walden. Michael Bloomberg, the founder majority owner of 41 00:02:16,639 --> 00:02:19,760 Speaker 5: Bloomberg LP, the parent company of Bloomberg Radio has endorsed 42 00:02:20,000 --> 00:02:23,920 Speaker 5: Andrew Cuomo. Now, if elected, Mandami would be New York's 43 00:02:24,000 --> 00:02:27,120 Speaker 5: youngest mayor in a century, its first Muslim mayor, and 44 00:02:27,200 --> 00:02:30,239 Speaker 5: the first person of South Asian descent to lead the city. 45 00:02:30,440 --> 00:02:32,080 Speaker 4: Lisa Matteo, Bloomberg Radio. 46 00:02:32,160 --> 00:02:35,359 Speaker 3: All right, let's turn down to geopolitics and the latest 47 00:02:35,360 --> 00:02:38,400 Speaker 3: from the Middle East. A classified report from the Pentagon's 48 00:02:38,440 --> 00:02:41,560 Speaker 3: intelligence arm is raising questions about the extent of the 49 00:02:41,680 --> 00:02:44,880 Speaker 3: damage from last weekend's US bunker buster bombing of her 50 00:02:44,960 --> 00:02:48,560 Speaker 3: Runs nuclear enrichment facilities. We get the details from Bloomberg's 51 00:02:48,600 --> 00:02:50,119 Speaker 3: Jumana Borsecci in Dubai. 52 00:02:50,320 --> 00:02:53,760 Speaker 8: President Trump had claimed that they had totally obliterated some 53 00:02:53,800 --> 00:02:56,600 Speaker 8: of those nuclear sites that they hit at over the weekends, 54 00:02:56,720 --> 00:03:00,000 Speaker 8: But this latest report put out by the Penzagon itself, 55 00:03:00,360 --> 00:03:04,680 Speaker 8: the Defense Intelligence Agency, suggesting that the blows didn't actually 56 00:03:04,680 --> 00:03:08,120 Speaker 8: manage to administer the fatal blow that Trump had characterized, 57 00:03:08,480 --> 00:03:11,840 Speaker 8: instead saying that at most it had set back the 58 00:03:12,080 --> 00:03:15,000 Speaker 8: nuclear program by as much as six months. They didn't 59 00:03:15,040 --> 00:03:19,280 Speaker 8: actually manage to severely cripple some of the core components 60 00:03:19,320 --> 00:03:23,080 Speaker 8: of the program, especially those Center Viusia's that are embedded. 61 00:03:22,680 --> 00:03:26,600 Speaker 3: Underground it Spoomberg's Umana Brissetti reporting from Dubaiano this morning. 62 00:03:26,639 --> 00:03:29,120 Speaker 4: President Trump is disputing that report. 63 00:03:29,360 --> 00:03:32,400 Speaker 9: I believe it was total obliteration. I believe they didn't 64 00:03:32,440 --> 00:03:34,800 Speaker 9: have a chance to get anything out because we acted fast. 65 00:03:35,160 --> 00:03:37,800 Speaker 9: If it would have taken two weeks, maybe, but it's 66 00:03:38,000 --> 00:03:40,800 Speaker 9: very hard to remove that kind of material, very hard 67 00:03:40,840 --> 00:03:41,920 Speaker 9: and very dangerous for them. 68 00:03:41,960 --> 00:03:42,560 Speaker 10: They movement. 69 00:03:42,640 --> 00:03:45,080 Speaker 3: President Trump spoke this morning at the NATO leader's summit 70 00:03:45,160 --> 00:03:49,040 Speaker 3: in the Hague, and comments heard live on Bloomberg Radio. Meanwhile, 71 00:03:49,080 --> 00:03:52,080 Speaker 3: the truce between Iran and Israel appears to be holding. 72 00:03:52,200 --> 00:03:55,160 Speaker 3: Israeli Prime Minister Benjamin Netanyah, who says the immediate threat 73 00:03:55,160 --> 00:03:58,400 Speaker 3: from Iran's nuclear program and ballistic missiles has been eliminated. 74 00:03:58,640 --> 00:04:02,040 Speaker 3: The Netanyahu's military chief is warning the campaign against Iran 75 00:04:02,480 --> 00:04:04,080 Speaker 3: is not over well, Nathan. 76 00:04:04,080 --> 00:04:06,440 Speaker 2: The latest developments in the Middle East come as world 77 00:04:06,480 --> 00:04:09,400 Speaker 2: leaders gather in the Hague for the NATO leaders Summit. 78 00:04:09,480 --> 00:04:11,760 Speaker 2: Allies are trying to agree on a new defense spending 79 00:04:11,800 --> 00:04:15,240 Speaker 2: target of five percent of gross domestic product, and they're 80 00:04:15,280 --> 00:04:18,520 Speaker 2: trying to project confidence after President Trump fueled doubts about 81 00:04:18,520 --> 00:04:24,160 Speaker 2: his administration's continued commitment to crucial collective obligations. NATO's Secretary 82 00:04:24,160 --> 00:04:26,440 Speaker 2: General Mark Rudo was asked if the US was still 83 00:04:26,480 --> 00:04:27,680 Speaker 2: committed to the alliance. 84 00:04:28,160 --> 00:04:31,160 Speaker 6: For me, there's absolute clarity that the United States has 85 00:04:31,200 --> 00:04:35,320 Speaker 6: totally committed to NATO, totally committed to Article five. And yes, 86 00:04:35,360 --> 00:04:38,520 Speaker 6: there's also an expectation which will be fulfilled today that 87 00:04:38,560 --> 00:04:42,040 Speaker 6: the Canadians and Europeans will speed up their spending, making 88 00:04:42,080 --> 00:04:46,080 Speaker 6: sure that we not only are able to defend ourselves 89 00:04:46,200 --> 00:04:49,520 Speaker 6: against the Russians and others, but also to equalize. And 90 00:04:49,560 --> 00:04:51,760 Speaker 6: this is fair that we spend the same as the 91 00:04:51,839 --> 00:04:52,520 Speaker 6: US are spending. 92 00:04:52,880 --> 00:04:56,320 Speaker 2: And yesterday President Trump posted a private message from Mark 93 00:04:56,400 --> 00:04:59,640 Speaker 2: Ruda in which the NATO general praised Trump's actions in 94 00:04:59,680 --> 00:05:02,320 Speaker 2: a run and for making Europe pay in a big 95 00:05:02,360 --> 00:05:06,440 Speaker 2: way on defense. Right now, Spain remains the only European holdout, 96 00:05:06,600 --> 00:05:09,080 Speaker 2: an issue Secretary of State Marco Rubio said, is a 97 00:05:09,160 --> 00:05:10,200 Speaker 2: quote big problem. 98 00:05:10,200 --> 00:05:13,839 Speaker 3: According to Politico, turned back to politics here in the US, Karen, 99 00:05:13,880 --> 00:05:17,640 Speaker 3: there is a possible breakthrough in salt talks. Of course, 100 00:05:17,640 --> 00:05:20,120 Speaker 3: that's the state and local tax deduction. When it comes 101 00:05:20,160 --> 00:05:23,080 Speaker 3: to the big tax cut bill on Capitol Hill. Let's 102 00:05:23,080 --> 00:05:25,160 Speaker 3: get the details now from Bloomberg's Amy Morris. 103 00:05:25,560 --> 00:05:29,000 Speaker 11: Treasury Secretary Scott Bessont said House and Senate Republicans can 104 00:05:29,040 --> 00:05:31,240 Speaker 11: cut a deal on the state and local tax deduction 105 00:05:31,680 --> 00:05:34,080 Speaker 11: within the next two days, resolving one of the key 106 00:05:34,120 --> 00:05:37,520 Speaker 11: issues that is stymied President Trump's economic legislation. 107 00:05:37,800 --> 00:05:40,919 Speaker 12: Both sides are working through and we'll have a solution 108 00:05:41,040 --> 00:05:43,120 Speaker 12: in that next twenty four to forty eight hours. 109 00:05:43,320 --> 00:05:46,080 Speaker 11: Besn't met with Senate Republicans to urge them to unite 110 00:05:46,080 --> 00:05:49,160 Speaker 11: to pass Trump's tax package by a self imposed July 111 00:05:49,279 --> 00:05:52,400 Speaker 11: fourth deadline. He thinks Senators can begin voting on the 112 00:05:52,440 --> 00:05:56,279 Speaker 11: bill this Friday. In Washington, Amy Morris, Bloomberg Radio. 113 00:05:56,520 --> 00:06:00,160 Speaker 2: All right, Amy, thank you from Washington to space. This 114 00:06:00,320 --> 00:06:03,200 Speaker 2: launch of a SpaceX Falcon nine. 115 00:06:03,080 --> 00:06:06,120 Speaker 4: Rocket three two. 116 00:06:05,440 --> 00:06:07,760 Speaker 13: One and. 117 00:06:11,600 --> 00:06:14,360 Speaker 2: An Axiom space and a crew of astronauts from four 118 00:06:14,480 --> 00:06:18,440 Speaker 2: nations to the International Space Station, marking Axiom's fourth crewed 119 00:06:18,600 --> 00:06:21,160 Speaker 2: mission into low Earth orbit. It's also the first time 120 00:06:21,200 --> 00:06:24,800 Speaker 2: asternats from India, Poland and Hungary We'll go to the ISS. 121 00:06:25,120 --> 00:06:28,880 Speaker 2: The long awaited launch lifted off from NASA's Kennedy Space 122 00:06:28,880 --> 00:06:32,400 Speaker 2: Center in Florida. After NASA, Axiom, and SpaceX delayed the 123 00:06:32,440 --> 00:06:34,960 Speaker 2: launch several times due to various issues. 124 00:06:35,080 --> 00:06:38,000 Speaker 3: All right, coming back from space, right back down to Washington. 125 00:06:38,200 --> 00:06:41,200 Speaker 3: Karen FED chair J. Powell is getting ready to resume 126 00:06:41,240 --> 00:06:43,839 Speaker 3: testimony on Capitol Hill later this morning. He will appear 127 00:06:43,880 --> 00:06:48,200 Speaker 3: before the Senate Banking Committee yesterday at House Financial Services, 128 00:06:48,360 --> 00:06:50,320 Speaker 3: Chairman Powell said he is still in no rush to 129 00:06:50,360 --> 00:06:52,400 Speaker 3: cut interest rates while the Central Bank waits to see 130 00:06:52,400 --> 00:06:54,200 Speaker 3: how tariffs affect the economy. 131 00:06:54,560 --> 00:06:57,120 Speaker 12: Increases in tariffs this year are likely to push up 132 00:06:57,160 --> 00:06:59,920 Speaker 12: price prices in way on economic activity. 133 00:07:00,120 --> 00:07:03,000 Speaker 3: The effects on inflation could be short lived, reflecting a 134 00:07:03,040 --> 00:07:05,840 Speaker 3: one time shift in the price level. And remarks her 135 00:07:05,960 --> 00:07:09,600 Speaker 3: live on Bloomberg, fed Shair jpal suggested if inflation pressures 136 00:07:09,640 --> 00:07:12,559 Speaker 3: remain contained, the FED could cut rates sooner rather than later, 137 00:07:12,920 --> 00:07:15,760 Speaker 3: but Palell would not point to a particular meeting. 138 00:07:16,360 --> 00:07:19,440 Speaker 2: Nathan Chres at FedEx, they're down about six percent this morning. 139 00:07:19,520 --> 00:07:23,320 Speaker 2: The delivery package company forecast a worse than expected profit 140 00:07:23,360 --> 00:07:25,920 Speaker 2: for the current quarter. Although it typically provides a full 141 00:07:26,000 --> 00:07:29,320 Speaker 2: year forecast, Fedek said it would only share its outlook 142 00:07:29,320 --> 00:07:32,640 Speaker 2: for the current quarter due to the uncertain global demand environment. 143 00:07:36,040 --> 00:07:37,440 Speaker 2: It's time now for a look at some of the 144 00:07:37,440 --> 00:07:40,160 Speaker 2: other stories making news in New York and around the world. 145 00:07:40,160 --> 00:07:42,640 Speaker 2: And for that we're joined by Bloomberg's Michael Barr. Michael, 146 00:07:42,680 --> 00:07:44,280 Speaker 2: good morning, Good morning, Carrion. 147 00:07:44,360 --> 00:07:47,640 Speaker 14: There's a bit of relief ahead today from the extreme 148 00:07:47,760 --> 00:07:50,240 Speaker 14: heat gripping much of the country. Parts of the Midwest 149 00:07:50,280 --> 00:07:53,920 Speaker 14: will see cooler temperatures, but it will be another brutally 150 00:07:54,040 --> 00:07:57,280 Speaker 14: hot day in the Northeast. Bloomberg Meeting religious Rob Carolyn 151 00:07:57,360 --> 00:07:58,800 Speaker 14: has the latest. Michael. 152 00:07:58,880 --> 00:08:01,280 Speaker 13: High pressure will continue to produce hot weather today, just 153 00:08:01,320 --> 00:08:03,920 Speaker 13: not the excesses that we saw yesterday. We had temperatures 154 00:08:03,960 --> 00:08:06,160 Speaker 13: exceeding one hundred degrees in the New York City area, 155 00:08:06,200 --> 00:08:09,160 Speaker 13: in Washington, in the Boston area. In fact, Boston set 156 00:08:09,160 --> 00:08:11,240 Speaker 13: their all time record high yesterday for June at one 157 00:08:11,320 --> 00:08:13,800 Speaker 13: hundred and two, fourth warmest day there in southern New 158 00:08:13,840 --> 00:08:16,800 Speaker 13: England looks like the highest beginning to weekend. So temperatures 159 00:08:16,840 --> 00:08:19,000 Speaker 13: are hot today, but not as hot as yesterday. We 160 00:08:19,080 --> 00:08:21,120 Speaker 13: have heat advisors in effect from parts of southern New 161 00:08:21,120 --> 00:08:23,200 Speaker 13: England through the New York City area all the way 162 00:08:23,200 --> 00:08:25,480 Speaker 13: down into the mid Atlantic States. Good news is the 163 00:08:25,520 --> 00:08:27,040 Speaker 13: Northeast will be much cooler tomorrow. 164 00:08:27,320 --> 00:08:28,800 Speaker 4: Michael, Thank you very much. 165 00:08:28,880 --> 00:08:32,200 Speaker 14: Rob Court resumes today in the sex trafficking case against 166 00:08:32,280 --> 00:08:35,319 Speaker 14: music mogul Sean Diddy Combs. When as attorneys have a 167 00:08:35,400 --> 00:08:38,960 Speaker 14: sit down with a judge on jury instructions, Both the 168 00:08:39,040 --> 00:08:43,600 Speaker 14: defense and the prosecution arrested their cases. After closing arguments, 169 00:08:43,640 --> 00:08:48,520 Speaker 14: deliberations could begin as soon as Friday. The NTSB criticizing Boeing, 170 00:08:48,679 --> 00:08:54,040 Speaker 14: it's subcontractors, Spirit Aerosystems, and the FAA for that terrifying 171 00:08:54,080 --> 00:08:57,760 Speaker 14: Alaska Airline's flight when a door plug flew off in 172 00:08:57,880 --> 00:09:01,320 Speaker 14: mid flight. Miraculously, all one hundred and seventy seven people 173 00:09:01,400 --> 00:09:06,240 Speaker 14: on board survived. The NTSB preliminary report revealing Boeing employees 174 00:09:06,520 --> 00:09:09,199 Speaker 14: felt pressure to have worked too fast, making it difficult 175 00:09:09,200 --> 00:09:13,720 Speaker 14: to avoid mistakes. NTSB chair Jennifer Hammedy credits the fast 176 00:09:13,760 --> 00:09:16,440 Speaker 14: acting crew of Alaska Flight twelve eighty two. 177 00:09:16,880 --> 00:09:20,280 Speaker 15: An accident like this only happens when there are multiple 178 00:09:20,360 --> 00:09:23,480 Speaker 15: system failures, and yet the crew shouldn't have had to 179 00:09:23,520 --> 00:09:27,560 Speaker 15: be heroes because this accident never should have happened. 180 00:09:28,200 --> 00:09:31,440 Speaker 14: NTSB Chair Jennifer Hammedy says the finalized report will be 181 00:09:31,480 --> 00:09:35,199 Speaker 14: available in several weeks. Global News twenty four hours a 182 00:09:35,280 --> 00:09:37,760 Speaker 14: day and whenever you want it with Bloomberg news now 183 00:09:38,120 --> 00:09:40,199 Speaker 14: Michael Barr, and this is Bloomberg Karen. 184 00:09:40,320 --> 00:09:47,160 Speaker 2: All right, Michael Barr, thank you time now for the 185 00:09:47,160 --> 00:09:51,280 Speaker 2: Bloombergy sports update. Here's John stash Hour, John, good morning. 186 00:09:51,040 --> 00:09:53,640 Speaker 1: Good morning here and the Yankees in Cincinnati. The red 187 00:09:53,679 --> 00:09:56,600 Speaker 1: started twenty two year old Chase Burns a year ago. 188 00:09:56,640 --> 00:09:58,880 Speaker 1: They took him with the second overall pick of the draft, 189 00:09:58,920 --> 00:10:01,880 Speaker 1: and all Burns did in his major league debut was 190 00:10:01,960 --> 00:10:05,079 Speaker 1: strikeout the first five batters he faced. The Yanks did 191 00:10:05,120 --> 00:10:07,120 Speaker 1: get to him in the fourth inning, ben Rice Homward 192 00:10:07,160 --> 00:10:08,520 Speaker 1: Anthony Bolpia two on triple. 193 00:10:08,559 --> 00:10:09,440 Speaker 4: The Yanks led. 194 00:10:09,640 --> 00:10:12,640 Speaker 1: Three to nothing in the seventh when Cincinnati loaded the 195 00:10:12,640 --> 00:10:15,640 Speaker 1: beastly track calm the look, feel live. 196 00:10:15,760 --> 00:10:16,560 Speaker 16: It's a trip bat. 197 00:10:17,000 --> 00:10:18,160 Speaker 4: HiT's gonna go into the quarter. 198 00:10:18,559 --> 00:10:22,640 Speaker 16: One on scores, two on score and they're sending home 199 00:10:22,720 --> 00:10:28,800 Speaker 16: Triggo and he scores. It's a Basis Claren double for 200 00:10:29,160 --> 00:10:29,640 Speaker 16: n Carlos. 201 00:10:29,800 --> 00:10:32,960 Speaker 4: The Anks trand and the Cave has tied at three. Yes, 202 00:10:33,040 --> 00:10:33,760 Speaker 4: Network to call. 203 00:10:33,920 --> 00:10:36,640 Speaker 1: The game went to the eleventh inning. Yanks scored one 204 00:10:36,679 --> 00:10:38,760 Speaker 1: in the top Reds came back with two in the 205 00:10:38,800 --> 00:10:40,920 Speaker 1: botto on one five to four. Yanks have now lost 206 00:10:41,000 --> 00:10:42,880 Speaker 1: nine to their last twelve. They're one and six in 207 00:10:42,960 --> 00:10:45,679 Speaker 1: extra inning games. The Mets in their last eleven games 208 00:10:46,120 --> 00:10:48,960 Speaker 1: one in ten, half those losses to Atlanta, all in 209 00:10:49,000 --> 00:10:50,959 Speaker 1: the last eight days. Mets also had a three to 210 00:10:51,000 --> 00:10:54,240 Speaker 1: nothing lead. The Braves scored five runs off three met 211 00:10:54,320 --> 00:10:56,680 Speaker 1: relievers in the sixth inning went on to win seven 212 00:10:56,679 --> 00:10:58,880 Speaker 1: to four. Red Sox lost to the Angels three two 213 00:10:59,000 --> 00:11:01,959 Speaker 1: ten innings. The Nationals lost in San Diego four to 214 00:11:02,000 --> 00:11:04,000 Speaker 1: three tonight and Brooklyn. That's the first round of the 215 00:11:04,080 --> 00:11:07,120 Speaker 1: NBA Draft. Dallas has the first pick. We'll clearly take 216 00:11:07,520 --> 00:11:10,480 Speaker 1: the eighteen year old duke Phenom Cooper flag. The Nets 217 00:11:10,520 --> 00:11:13,080 Speaker 1: already had four first rounders and then just made a 218 00:11:13,120 --> 00:11:15,640 Speaker 1: trade to add a fifth, part of a three team 219 00:11:15,679 --> 00:11:18,480 Speaker 1: trade with the Celtics and Hawks. Christoff Perzingis is headed 220 00:11:18,520 --> 00:11:21,320 Speaker 1: to Atlanta. Wizards and Pelicans swam the Dale. 221 00:11:21,360 --> 00:11:21,600 Speaker 6: CJ. 222 00:11:21,720 --> 00:11:24,640 Speaker 1: Mccoums going to Washington, Jordan Pool to New Orleans. The 223 00:11:24,720 --> 00:11:27,360 Speaker 1: Knicks do not have a first round pick or a coach. 224 00:11:27,720 --> 00:11:31,360 Speaker 1: Their interview in Minnesota assistant Nika Norri, John stash. 225 00:11:31,040 --> 00:11:32,560 Speaker 4: Ellen Bloomberg Sports. 226 00:11:34,320 --> 00:11:38,720 Speaker 12: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and. 227 00:11:38,840 --> 00:11:42,040 Speaker 3: Around the World on Bloomberg dot Com and the Bloomberg 228 00:11:42,080 --> 00:11:42,680 Speaker 3: Business app. 229 00:11:43,000 --> 00:11:46,199 Speaker 4: This is Bloomberg day Break. Good morning, I'm Mathon Hager. 230 00:11:46,360 --> 00:11:50,160 Speaker 3: Primary election day is in the books in New York City, 231 00:11:50,240 --> 00:11:52,680 Speaker 3: and when it comes to the mayor's race, it appears 232 00:11:52,760 --> 00:11:54,520 Speaker 3: to be a generational shift. 233 00:11:55,000 --> 00:11:58,200 Speaker 7: I will be your Democratic nominee for the mayor of 234 00:11:58,280 --> 00:11:59,000 Speaker 7: New York City. 235 00:11:59,520 --> 00:12:03,679 Speaker 3: Thirty three year old State Assemblyman Zorn Mumdani declaring victory 236 00:12:03,760 --> 00:12:06,600 Speaker 3: last night in the Democratic race for mayor, being sixty 237 00:12:06,640 --> 00:12:09,640 Speaker 3: seven year old former governor Andrew Cuomo by more than 238 00:12:09,760 --> 00:12:13,400 Speaker 3: seven percentage points in the first round of ranked choice voting. 239 00:12:13,840 --> 00:12:17,840 Speaker 3: Joining us this morning after Bloomberg Television Managing editor Miles Miller. 240 00:12:18,240 --> 00:12:19,160 Speaker 4: Miles, good morning. 241 00:12:19,240 --> 00:12:21,719 Speaker 3: We had spoken just yesterday thinking we might not get 242 00:12:21,760 --> 00:12:25,240 Speaker 3: a declared winner for days, but apparently this plurality of 243 00:12:25,360 --> 00:12:28,880 Speaker 3: votes for Mumdanni was too much for Cuomo in the rest. 244 00:12:28,920 --> 00:12:31,000 Speaker 3: Good morning, Hey, good morning to you. 245 00:12:31,160 --> 00:12:33,959 Speaker 10: Yeah, you know, I think this was the real strategy 246 00:12:34,000 --> 00:12:39,440 Speaker 10: behind mum Donnie, linking arms with other candidates and making 247 00:12:39,480 --> 00:12:43,360 Speaker 10: sure that people cross endorsed, and making sure that other 248 00:12:43,440 --> 00:12:45,959 Speaker 10: people ranked him on their ballot say he wasn't their 249 00:12:46,000 --> 00:12:49,680 Speaker 10: first choice. Maybe he was their second and this really worked. 250 00:12:50,000 --> 00:12:50,400 Speaker 14: Y Mom. 251 00:12:50,440 --> 00:12:53,200 Speaker 10: Donnie is a thirty three year old Democratic Socialist assembly 252 00:12:53,200 --> 00:12:55,440 Speaker 10: member from Queen's and he's not one track to become 253 00:12:55,480 --> 00:12:59,440 Speaker 10: the Democratic nominee for mayor. He win. He won forty 254 00:12:59,480 --> 00:13:01,720 Speaker 10: three point five five percent of the first choice votes 255 00:13:01,880 --> 00:13:05,320 Speaker 10: to Andrew Cuomo's thirty six point three percent, And while 256 00:13:05,320 --> 00:13:08,400 Speaker 10: we're still rating for the final ranked choice results, which 257 00:13:08,400 --> 00:13:11,920 Speaker 10: will be released on July first, you know, Cuomo conceded 258 00:13:12,000 --> 00:13:15,440 Speaker 10: last night to this primary, which tells you everything you 259 00:13:15,440 --> 00:13:17,760 Speaker 10: need to know about how this is really going to end. 260 00:13:18,280 --> 00:13:21,760 Speaker 10: Mamdannie pulled this off with a combination of message, movement, 261 00:13:21,920 --> 00:13:25,840 Speaker 10: and method. He ran on affordability, freezing rents, free buses, 262 00:13:25,880 --> 00:13:30,680 Speaker 10: city owned grocery stores, and connected with young voters, immigrant communities, 263 00:13:31,120 --> 00:13:34,880 Speaker 10: and the city's growing progressive base. His campaign had fifty 264 00:13:35,080 --> 00:13:37,839 Speaker 10: thousand volunteers. Nathan, I'll tell you this. You know, there 265 00:13:37,880 --> 00:13:40,120 Speaker 10: was a day that I went with my wife and 266 00:13:40,200 --> 00:13:43,080 Speaker 10: son and my brother in law and his kids to 267 00:13:43,840 --> 00:13:46,920 Speaker 10: you know, a local bar in Brooklyn, and there were 268 00:13:46,960 --> 00:13:50,880 Speaker 10: people there doing outreach for Mandani. And this was months 269 00:13:50,920 --> 00:13:54,880 Speaker 10: before the primary. And that told me what I needed 270 00:13:54,920 --> 00:13:56,960 Speaker 10: to know, which was that he had already created this 271 00:13:57,080 --> 00:13:58,040 Speaker 10: big coalition. 272 00:13:58,320 --> 00:13:59,959 Speaker 3: But I mean, you got to talk about just how 273 00:14:00,360 --> 00:14:04,040 Speaker 3: a few weeks ago Mamdatti was essentially an unknown in 274 00:14:04,080 --> 00:14:05,720 Speaker 3: this really crowded field. 275 00:14:06,000 --> 00:14:07,880 Speaker 4: How do you explain this surge for him. 276 00:14:08,160 --> 00:14:10,559 Speaker 10: Yeah, at one point he was polling at one percent. 277 00:14:11,320 --> 00:14:15,360 Speaker 10: But the surge was helped by the support he had 278 00:14:15,400 --> 00:14:20,720 Speaker 10: from top Democrats, specifically top progressive Democrats. You're talking about 279 00:14:20,840 --> 00:14:25,480 Speaker 10: him being endorsed by AOC Bernie Sanders, and then him 280 00:14:25,520 --> 00:14:29,760 Speaker 10: also getting some support from Democratic establishment candidates that cross 281 00:14:29,880 --> 00:14:33,480 Speaker 10: endorsement with the Working Families Party, where Tiss James stood 282 00:14:33,520 --> 00:14:36,360 Speaker 10: on that stage with the person she primarily endorsed and 283 00:14:36,400 --> 00:14:39,720 Speaker 10: said rank this slate. That played a big role. But 284 00:14:39,800 --> 00:14:42,920 Speaker 10: there is also a push in New York City for 285 00:14:43,040 --> 00:14:47,800 Speaker 10: folks to have affordability. They did not feel that Andrew 286 00:14:47,880 --> 00:14:51,400 Speaker 10: Cuomo's comeback would get them to that place. Cuomo had 287 00:14:51,440 --> 00:14:54,360 Speaker 10: money twenty five million dollars in super pac money, but 288 00:14:54,440 --> 00:14:57,720 Speaker 10: he was extremely negative in his ads. There were some 289 00:14:57,880 --> 00:15:02,680 Speaker 10: ads that really at fears of New Yorkers. There was 290 00:15:02,880 --> 00:15:07,800 Speaker 10: a push to call Mamdani an anti Semite, when he's 291 00:15:07,840 --> 00:15:11,120 Speaker 10: always said you know, for years and for the months 292 00:15:11,120 --> 00:15:13,240 Speaker 10: of this campaign, that you know, he is not an 293 00:15:13,240 --> 00:15:17,120 Speaker 10: anti Semite. He just is pro Palestine, and he does 294 00:15:17,160 --> 00:15:20,400 Speaker 10: want to work with with Jewish New Yorkers and have 295 00:15:20,480 --> 00:15:22,680 Speaker 10: a New York that makes them feel safe. But he 296 00:15:22,760 --> 00:15:25,960 Speaker 10: offered something different, urgency, optimism and a break from the 297 00:15:25,960 --> 00:15:30,000 Speaker 10: old guard. And Cuomo still carried the weight of unresolved scandals, 298 00:15:30,000 --> 00:15:34,680 Speaker 10: his resignation, the nursing home death's, allegations of sexual harassment, 299 00:15:34,720 --> 00:15:38,320 Speaker 10: and questions about transparency during COVID. And it's clear that 300 00:15:38,440 --> 00:15:41,440 Speaker 10: voters didn't forget. They said, let's go with this new guy, 301 00:15:41,680 --> 00:15:44,040 Speaker 10: even though he's only passed three bills in the legislature, 302 00:15:44,160 --> 00:15:47,000 Speaker 10: even only only has a staff of five. Let's see 303 00:15:47,040 --> 00:15:49,000 Speaker 10: if this is a guy who'd get us forward. But 304 00:15:49,080 --> 00:15:50,480 Speaker 10: of course it's not over yet. 305 00:15:51,280 --> 00:15:54,680 Speaker 3: To that point, Miles, we had heard Cuomo during the 306 00:15:54,720 --> 00:15:58,280 Speaker 3: campaign even saying that if he were to lose last 307 00:15:58,360 --> 00:16:02,240 Speaker 3: night that he would consider running as an independent. Last 308 00:16:02,320 --> 00:16:05,359 Speaker 3: night we heard him say that he's going to reassess 309 00:16:05,520 --> 00:16:07,960 Speaker 3: the rank choice voting, and he's given an interview to 310 00:16:08,000 --> 00:16:10,960 Speaker 3: the New York Times that's raising some doubts as well. 311 00:16:11,000 --> 00:16:14,080 Speaker 3: Where does this leave Governor Cuomo heading into November. 312 00:16:14,960 --> 00:16:16,760 Speaker 10: Yeah, so you know, I've been covering this story with 313 00:16:16,840 --> 00:16:19,960 Speaker 10: Laura Namius, who's our senior reporter covering New York, and 314 00:16:20,000 --> 00:16:22,080 Speaker 10: we talked about this a couple of days ago. You know, 315 00:16:22,400 --> 00:16:28,400 Speaker 10: is Cuomo too embarrassed to have you know, on July first, 316 00:16:28,640 --> 00:16:32,320 Speaker 10: if he's truly lost a Democratic primary, is he too 317 00:16:32,400 --> 00:16:34,760 Speaker 10: embarrassed to run on that independent line because he didn't 318 00:16:34,760 --> 00:16:36,720 Speaker 10: get the support of Democrats. And this is a guy 319 00:16:36,760 --> 00:16:40,360 Speaker 10: who's been an establishment Democrats over the last thirty years. 320 00:16:40,520 --> 00:16:43,840 Speaker 10: He's on the independent line, but last night he signaled 321 00:16:43,840 --> 00:16:45,880 Speaker 10: that he might not use it. He told reporters last 322 00:16:45,960 --> 00:16:48,360 Speaker 10: night tonight was not our night. Does that mean that 323 00:16:48,400 --> 00:16:51,200 Speaker 10: it's not our night? Is it a firm No, We 324 00:16:51,240 --> 00:16:53,640 Speaker 10: don't know. It's a big shift from the assumption that 325 00:16:53,680 --> 00:16:55,520 Speaker 10: he was going to keep going no matter what. But 326 00:16:55,600 --> 00:16:58,000 Speaker 10: this now tells me that this is going to be 327 00:16:58,040 --> 00:17:01,400 Speaker 10: a race between Eric Adams, who is still mayor, and 328 00:17:01,520 --> 00:17:06,000 Speaker 10: Zoram Mamdanni. Adams, of course skipped a Democratic primary entirely 329 00:17:06,240 --> 00:17:09,600 Speaker 10: planning to run on that ant stop anti semitism line. 330 00:17:09,720 --> 00:17:13,000 Speaker 10: It gives him a second shot and he's politically vulnerable, 331 00:17:13,920 --> 00:17:17,359 Speaker 10: but Kenny have the ground swell of support in the 332 00:17:17,400 --> 00:17:20,639 Speaker 10: black community, that Cuomo took away. Kenny have the ground 333 00:17:20,680 --> 00:17:24,000 Speaker 10: swell of support from Republicans who seem to like what 334 00:17:24,080 --> 00:17:28,040 Speaker 10: he's done, and so this could be a two way race. 335 00:17:28,119 --> 00:17:30,800 Speaker 10: I think what will happen is that they'll find a 336 00:17:30,800 --> 00:17:34,560 Speaker 10: way to push Curtis Lewa off the ballot and give 337 00:17:35,080 --> 00:17:39,960 Speaker 10: Adams that Republican line, and then will those center write Democrats, 338 00:17:40,880 --> 00:17:44,680 Speaker 10: Caribbean folks of people I grew up with who may 339 00:17:44,680 --> 00:17:47,119 Speaker 10: not know Mom Donnie, go for the name they know, 340 00:17:47,480 --> 00:17:50,320 Speaker 10: which is Eric Adams. So that is where I think 341 00:17:50,320 --> 00:17:50,800 Speaker 10: this will go. 342 00:17:51,200 --> 00:17:54,640 Speaker 3: Thanks for this, Miles comprehensive coverage this morning after Bloomberg 343 00:17:54,680 --> 00:17:58,200 Speaker 3: Television Managing editor Miles Miller with us Now, we want 344 00:17:58,200 --> 00:18:00,000 Speaker 3: to turn to the latest from the Middle East and 345 00:18:00,000 --> 00:18:02,480 Speaker 3: an initial report on the damage from last weekend's bunker 346 00:18:02,560 --> 00:18:06,760 Speaker 3: buster attack in Iran from the Pentagon's intelligence arms, suggesting 347 00:18:06,760 --> 00:18:09,159 Speaker 3: that the US air strikes may have set Iran's nuclear 348 00:18:09,200 --> 00:18:11,440 Speaker 3: program back by just a few months. 349 00:18:11,640 --> 00:18:15,080 Speaker 4: President Trump, though, is disputing that the last thing. 350 00:18:15,080 --> 00:18:16,520 Speaker 14: They want to do is enrich anything. 351 00:18:16,560 --> 00:18:19,399 Speaker 9: Right now, they want to recover, and we won't let 352 00:18:19,480 --> 00:18:22,119 Speaker 9: that happen. Number One, militarily. 353 00:18:21,560 --> 00:18:22,000 Speaker 10: We wont. 354 00:18:22,600 --> 00:18:25,919 Speaker 3: President Trump spoke at the NATO leaders summit in the Hague, 355 00:18:25,920 --> 00:18:29,840 Speaker 3: as heard live on Bloomberg Radio, repeating his assertion that 356 00:18:29,920 --> 00:18:33,760 Speaker 3: Iran's nuclear program was totally obliterated last weekend. For more, 357 00:18:33,840 --> 00:18:36,840 Speaker 3: we're joined by Bloomberg News Senior editor Bill Ferries. Bill, 358 00:18:36,960 --> 00:18:39,560 Speaker 3: Good morning, What do we know about what this initial 359 00:18:39,560 --> 00:18:41,359 Speaker 3: Pentagon assessment actually says? 360 00:18:41,400 --> 00:18:45,199 Speaker 12: Good morning, Good morning, Nathan. So, yes, there's this initial 361 00:18:45,240 --> 00:18:48,960 Speaker 12: assessment out from the Pentagon's Defense Intelligence Agency, and it 362 00:18:49,000 --> 00:18:53,040 Speaker 12: basically says that that surprise bombing attack by those B 363 00:18:53,119 --> 00:18:58,199 Speaker 12: two's over the weekend likely did not cripple Iran's the 364 00:18:58,280 --> 00:19:03,080 Speaker 12: core components of Iron's nuclear program that were buried deep underground. 365 00:19:03,440 --> 00:19:07,920 Speaker 12: Now it's clear the entrances have been completely destroyed and 366 00:19:08,000 --> 00:19:12,280 Speaker 12: covered up, but their initial assessment is that deep down 367 00:19:12,320 --> 00:19:16,280 Speaker 12: those centrifuges may still be there. Iran be able to 368 00:19:16,400 --> 00:19:19,000 Speaker 12: be able to dig through the rubble and get back 369 00:19:19,080 --> 00:19:22,639 Speaker 12: down into those areas. So obviously that would be a 370 00:19:22,760 --> 00:19:27,080 Speaker 12: very disappointing outcome for the US. President Trump authorized this 371 00:19:27,200 --> 00:19:31,880 Speaker 12: extremely risky mission with these stealth bombers flying thirty seven 372 00:19:31,960 --> 00:19:37,040 Speaker 12: hours around the world to make this to bomb those sites. 373 00:19:37,680 --> 00:19:40,320 Speaker 12: And there's still a lot more information that will probably 374 00:19:40,400 --> 00:19:43,119 Speaker 12: come out a lot more intelligence assessments that need to 375 00:19:43,160 --> 00:19:46,200 Speaker 12: be done. But the President and his aides pushing back 376 00:19:46,240 --> 00:19:50,560 Speaker 12: already on this defense this Pentagon Intelligence Agency report, saying 377 00:19:50,600 --> 00:19:54,240 Speaker 12: that that it's clear to them that the sites were 378 00:19:54,240 --> 00:19:57,120 Speaker 12: destroyed and that Iron's nuclear program is stopped. 379 00:19:57,320 --> 00:20:00,520 Speaker 3: Yeah, And to that point, Defense Secretary Pete Heggs also 380 00:20:00,600 --> 00:20:03,320 Speaker 3: at the NATO summit saying that the report was preliminary 381 00:20:03,320 --> 00:20:06,960 Speaker 3: and low confidence, saying that the leak of this assessment 382 00:20:07,400 --> 00:20:10,200 Speaker 3: is going to be investigated. How is the effort going 383 00:20:10,240 --> 00:20:12,840 Speaker 3: to get UN nuclear inspectors back in the region now 384 00:20:12,840 --> 00:20:14,440 Speaker 3: that the ceasefires in effect. 385 00:20:14,840 --> 00:20:20,359 Speaker 12: Well, that's the priority for the International Atomic Energy Agency. 386 00:20:20,800 --> 00:20:23,480 Speaker 12: They have said that they think the atomic program has 387 00:20:23,520 --> 00:20:27,479 Speaker 12: been set back significantly, but they wouldn't say whether that 388 00:20:27,640 --> 00:20:30,600 Speaker 12: means months or years. They want to get in as 389 00:20:30,600 --> 00:20:33,919 Speaker 12: soon as possible to see what is the status of 390 00:20:33,960 --> 00:20:36,920 Speaker 12: that enriched uranium. Is it still at one of those 391 00:20:36,960 --> 00:20:40,080 Speaker 12: sites that got bombed, or can they figure out whether 392 00:20:40,119 --> 00:20:43,200 Speaker 12: it got moved in the days or weeks before the attack. 393 00:20:43,920 --> 00:20:46,879 Speaker 12: The IAE is priorities just to get boots on the 394 00:20:46,880 --> 00:20:51,280 Speaker 12: ground basically and start seeing what they can learn about 395 00:20:51,280 --> 00:20:52,680 Speaker 12: the status of that program. 396 00:20:52,880 --> 00:20:54,840 Speaker 3: Yeah, and I guess it can't really be disputed that 397 00:20:54,880 --> 00:20:58,280 Speaker 3: it run is on a back foot following all these developments. 398 00:20:58,320 --> 00:21:01,359 Speaker 3: What can we expect when it comes to the possibility 399 00:21:01,400 --> 00:21:04,680 Speaker 3: of further talks around the nuclear program between Iran and 400 00:21:04,680 --> 00:21:05,159 Speaker 3: the US. 401 00:21:06,000 --> 00:21:08,000 Speaker 12: Well, it does seem that, you know, both Iran and 402 00:21:08,160 --> 00:21:11,200 Speaker 12: Israel were ready to de escalate at some level. They 403 00:21:11,240 --> 00:21:15,560 Speaker 12: did both agree to that at least that temporary cease fire. 404 00:21:15,680 --> 00:21:18,240 Speaker 12: It was had a rough start, but it seems to 405 00:21:18,280 --> 00:21:18,800 Speaker 12: be holding. 406 00:21:19,400 --> 00:21:19,560 Speaker 6: Uh. 407 00:21:19,840 --> 00:21:24,520 Speaker 12: That may bode well for Iran's willingness to sit down 408 00:21:24,600 --> 00:21:28,480 Speaker 12: again with the US in oman, you know, maybe through mediators, 409 00:21:28,760 --> 00:21:31,679 Speaker 12: but start talking about, you know, what they can do 410 00:21:31,920 --> 00:21:35,639 Speaker 12: to scale back their nuclear program. You know, those are 411 00:21:35,680 --> 00:21:39,280 Speaker 12: still going to be difficult negotiations, but it does seem 412 00:21:39,440 --> 00:21:42,760 Speaker 12: the fact that the ceasefire is holding probably is good 413 00:21:42,760 --> 00:21:44,399 Speaker 12: news for the negotiating teams. 414 00:21:44,800 --> 00:21:48,200 Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories 415 00:21:48,280 --> 00:21:51,360 Speaker 2: making news from Wall Street to Washington and beyond. 416 00:21:51,560 --> 00:21:53,960 Speaker 3: Look for us on your podcast feed by six am 417 00:21:54,000 --> 00:21:57,399 Speaker 3: Eastern each morning, on Apple, Spotify, or manywhere else you listen. 418 00:21:57,640 --> 00:22:00,480 Speaker 2: You can also listen live each morning start at five 419 00:22:00,520 --> 00:22:03,120 Speaker 2: am Wall Street time on Bloomberg eleven three to zero 420 00:22:03,240 --> 00:22:06,120 Speaker 2: in New York, Bloomberg in ninety nine to one in Washington, 421 00:22:06,200 --> 00:22:10,080 Speaker 2: Bloomberg ninety two nine in Boston, and nationwide on serious 422 00:22:10,320 --> 00:22:11,880 Speaker 2: XM Channel one twenty one. 423 00:22:12,280 --> 00:22:12,600 Speaker 4: Plus. 424 00:22:12,640 --> 00:22:15,240 Speaker 3: Listen coast to coast on the Bloomberg Business App now 425 00:22:15,240 --> 00:22:17,880 Speaker 3: with Apple CarPlay and Android Atto interfaces. 426 00:22:18,119 --> 00:22:21,120 Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's 427 00:22:21,119 --> 00:22:23,879 Speaker 2: the latest news whenever you want it in five minutes 428 00:22:23,960 --> 00:22:27,080 Speaker 2: or less. Search Bloomberg News Now on your favorite podcast 429 00:22:27,119 --> 00:22:31,280 Speaker 2: platform to stay informed all day long. I'm Karen Moscow. 430 00:22:31,080 --> 00:22:32,040 Speaker 4: And I'm Nathan Hager. 431 00:22:32,200 --> 00:22:34,280 Speaker 3: Join us again tomorrow morning for all the news you 432 00:22:34,320 --> 00:22:36,840 Speaker 3: need to start your day right here on Bloomberg Day 433 00:22:36,840 --> 00:22:37,040 Speaker 3: Bray