1 00:00:02,520 --> 00:00:07,040 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:10,000 --> 00:00:13,160 Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 3 00:00:13,200 --> 00:00:14,920 Speaker 2: are the stories we're following today. 4 00:00:15,360 --> 00:00:17,440 Speaker 3: Karen, we begin with the latest from the Middle East. 5 00:00:17,480 --> 00:00:20,520 Speaker 3: Two days after the US dropped bunker buster bombs on 6 00:00:20,560 --> 00:00:25,160 Speaker 3: Iran's key underground nuclear sites, President Trump said a ceasefire 7 00:00:25,360 --> 00:00:29,400 Speaker 3: is in effect between Israel and Iran. The President announced 8 00:00:29,400 --> 00:00:32,480 Speaker 3: it in a truth social post. Last night. Israeli Prime 9 00:00:32,479 --> 00:00:35,400 Speaker 3: Minister Benjamin Netanyaho confirmed that he's agreed to it and 10 00:00:35,440 --> 00:00:38,319 Speaker 3: that he's achieved his war aims. But this morning there 11 00:00:38,320 --> 00:00:41,400 Speaker 3: are questions whether this truce will hold. We get the 12 00:00:41,520 --> 00:00:44,520 Speaker 3: very latest from Bloomberg Middle East anchored Jumana Bursechi. 13 00:00:45,080 --> 00:00:48,839 Speaker 4: They've also said that Israel will respond forcefully to a 14 00:00:48,920 --> 00:00:51,800 Speaker 4: breach of truth. And if you remember, it's quite similar 15 00:00:51,840 --> 00:00:55,400 Speaker 4: to the wording of the truce agreement that Israel had 16 00:00:55,400 --> 00:00:57,840 Speaker 4: in place with Hezbalah at the time when they agreed 17 00:00:57,880 --> 00:01:01,120 Speaker 4: the ceasefire. It was a ceasfire and principle, but again 18 00:01:01,360 --> 00:01:04,400 Speaker 4: Israel reserved the right to still strike back at certain 19 00:01:04,480 --> 00:01:09,120 Speaker 4: Hesbala targets should they deem to have contravened the seas fart. 20 00:01:09,160 --> 00:01:12,480 Speaker 3: It's Bloomberg's Jamanibersat you're reporting in this morning, Israel's military 21 00:01:12,520 --> 00:01:16,400 Speaker 3: set it identified missiles fired from Iran. Defense Minister Israel 22 00:01:16,480 --> 00:01:20,360 Speaker 3: Katz said he instructed his military to respond forcefully. Iran 23 00:01:20,600 --> 00:01:23,760 Speaker 3: is denying that it has launched a new attack, Nathan. 24 00:01:23,800 --> 00:01:27,560 Speaker 2: The ceasefire announcement comes after Iran launched missiles at a 25 00:01:27,680 --> 00:01:31,680 Speaker 2: US airbase and Cutter and retaliation for the bunker Buster attack. 26 00:01:32,080 --> 00:01:35,120 Speaker 2: T Iran launched fourteen missiles at the base, the same 27 00:01:35,240 --> 00:01:38,839 Speaker 2: number as the bunker Busters dropped on its nuclear sites. 28 00:01:39,240 --> 00:01:41,679 Speaker 2: All but one of the missiles were intercepted and no 29 00:01:41,680 --> 00:01:44,720 Speaker 2: one was hurt. Bloomber's Paul Wallace has more from Dubai. 30 00:01:45,000 --> 00:01:48,880 Speaker 5: I think Iran had to do something to save face, 31 00:01:48,920 --> 00:01:52,760 Speaker 5: if nothing else, with its domestic population. And I think 32 00:01:52,800 --> 00:01:56,040 Speaker 5: the Americans well knew that. It just depended what Iran 33 00:01:56,080 --> 00:01:59,320 Speaker 5: would do and how spectacular and how aggressive that retaliation 34 00:01:59,440 --> 00:02:02,120 Speaker 5: would be. In the end, it seemed like it was 35 00:02:02,240 --> 00:02:07,120 Speaker 5: very choreographed, very calibrated, and there's even been speculation that 36 00:02:07,640 --> 00:02:11,640 Speaker 5: Katar knew that this was coming and was actually okay 37 00:02:11,680 --> 00:02:12,040 Speaker 5: with it. 38 00:02:12,320 --> 00:02:15,840 Speaker 2: Bloomer's Paul Wallace reports President Trump spoke with Cutters and 39 00:02:15,960 --> 00:02:18,960 Speaker 2: Mirror about the ceasfire and asked for his help persuading 40 00:02:19,000 --> 00:02:21,400 Speaker 2: Around to agree to it. It's still unclear whether the 41 00:02:21,400 --> 00:02:24,040 Speaker 2: truce will hold or if it'll lead to new discussions 42 00:02:24,040 --> 00:02:26,240 Speaker 2: about Around's nuclear program and Karen. 43 00:02:26,280 --> 00:02:29,080 Speaker 3: Markets are fluctuating with every headline coming out of the 44 00:02:29,080 --> 00:02:32,079 Speaker 3: Middle East. Futures are higher, but off their best levels 45 00:02:32,120 --> 00:02:34,800 Speaker 3: of the morning. That follows yesterday's one percent gain on 46 00:02:34,840 --> 00:02:37,960 Speaker 3: Wall Street, and we're seeing oil prices continue to fall 47 00:02:38,000 --> 00:02:40,000 Speaker 3: as well. Right now, nine X crews down more than 48 00:02:40,040 --> 00:02:42,359 Speaker 3: three and a half percent, trading just above sixty six 49 00:02:42,400 --> 00:02:44,919 Speaker 3: dollars a barrel. Brent is also down more than three 50 00:02:44,919 --> 00:02:47,560 Speaker 3: and a half percent at of nearly sixty nine dollars. 51 00:02:47,760 --> 00:02:51,720 Speaker 3: Bloomberg Energy reporter Stephen Stepzinski says oil traders see less 52 00:02:51,800 --> 00:02:52,919 Speaker 3: risk in the market. 53 00:02:53,120 --> 00:02:57,079 Speaker 6: Oil prices are back below the June twelve level. You're 54 00:02:57,200 --> 00:03:00,840 Speaker 6: seeing the market take a large sigh of leaf, and 55 00:03:00,880 --> 00:03:04,200 Speaker 6: that is largely because while we've been through potentially the 56 00:03:04,240 --> 00:03:09,600 Speaker 6: worst flare up in US Iranian conflict in decades, oil 57 00:03:09,720 --> 00:03:12,680 Speaker 6: kept flowing and trade via the Strait of Hormus was 58 00:03:12,720 --> 00:03:13,399 Speaker 6: not affected. 59 00:03:13,480 --> 00:03:16,480 Speaker 3: In Bloomberg, Stevens Stebsinski notes the Middle East pumps about 60 00:03:16,480 --> 00:03:18,120 Speaker 3: a third of the world's crude supply. 61 00:03:19,080 --> 00:03:23,160 Speaker 2: Nathan the is Israel Around ceasefire comes as leaders gather 62 00:03:23,280 --> 00:03:25,440 Speaker 2: for a NATO summit in the Hague. Ahead of the 63 00:03:25,440 --> 00:03:28,560 Speaker 2: two day meeting, most of the NATO member states agreed 64 00:03:28,800 --> 00:03:31,600 Speaker 2: on a proposed target to raise defense spending to five 65 00:03:31,639 --> 00:03:35,480 Speaker 2: percent of GDP by twenty thirty five. NATO's Secretary General 66 00:03:35,480 --> 00:03:38,360 Speaker 2: Mark Ruda says the ramp up and spending would be 67 00:03:38,360 --> 00:03:39,840 Speaker 2: a quantum leap as. 68 00:03:39,720 --> 00:03:44,320 Speaker 7: The world's becomes more dangerous at our leaders will take 69 00:03:44,560 --> 00:03:50,160 Speaker 7: both desisions to strengthen our collective defense, making NATO a stronger, 70 00:03:50,680 --> 00:03:53,520 Speaker 7: a fair, and a more lethal alliance member. 71 00:03:53,560 --> 00:03:55,800 Speaker 2: It as a new target has not won approval of 72 00:03:55,840 --> 00:03:58,800 Speaker 2: all of NATO, with Spain fighting for an opt out 73 00:03:58,840 --> 00:04:01,000 Speaker 2: that could derail talks to making place in the Hague. 74 00:04:01,040 --> 00:04:05,160 Speaker 3: Today, I'm back in Washington, Karen Fedchair J. Powell begins 75 00:04:05,200 --> 00:04:08,800 Speaker 3: two days of testimony on the economy before Congress. Later 76 00:04:08,840 --> 00:04:12,000 Speaker 3: this morning, he'll appear before the House Financial Services Committee. 77 00:04:12,120 --> 00:04:14,520 Speaker 3: In a post on social media this morning, President Trump 78 00:04:14,560 --> 00:04:17,640 Speaker 3: said he helps Congress quote really works Powell over for 79 00:04:17,720 --> 00:04:21,120 Speaker 3: not lowering rates already. We get more from Bloomberg's Michael McKee. 80 00:04:21,320 --> 00:04:23,760 Speaker 8: The Fed chair has been squarely in the President's sites 81 00:04:23,839 --> 00:04:26,599 Speaker 8: ever since Donald Trump returned to the White House. Trump 82 00:04:26,640 --> 00:04:30,120 Speaker 8: wants him to lower interest rates now, today and tomorrow. 83 00:04:30,200 --> 00:04:32,840 Speaker 8: J Powell gets his chance to turn the tables. While 84 00:04:32,880 --> 00:04:35,840 Speaker 8: Powell will be more circumspect and polite than the President, 85 00:04:36,120 --> 00:04:38,720 Speaker 8: he'll explain the Central Bank doesn't want to lower rates 86 00:04:38,760 --> 00:04:42,120 Speaker 8: until it knows the impact of Trump's tariff taxes and 87 00:04:42,200 --> 00:04:45,760 Speaker 8: the budget bill on the economy. Expect Republicans to defend 88 00:04:45,800 --> 00:04:49,360 Speaker 8: the President and Democrats to defend the Fed, and Chairman 89 00:04:49,400 --> 00:04:52,479 Speaker 8: Powell to be as neutral as he can be. Michael McKee, 90 00:04:52,480 --> 00:04:53,280 Speaker 8: Bloomberg Radio. 91 00:04:53,320 --> 00:04:55,240 Speaker 3: All right, Mike, thanks and stay with Bloomberg for full 92 00:04:55,279 --> 00:04:58,120 Speaker 3: coverage of Chair Powell's testimony before the House. Will have 93 00:04:58,160 --> 00:05:00,400 Speaker 3: it for you starting at ten am Wall Street Time 94 00:05:00,400 --> 00:05:04,200 Speaker 3: on Bloomberg Radio and the Bloomberg Podcast page on YouTube. 95 00:05:04,440 --> 00:05:07,200 Speaker 2: Return to Politics now on Nathan and on a sweltering 96 00:05:07,400 --> 00:05:10,640 Speaker 2: day at New York City, Democrats will vote in today's 97 00:05:10,680 --> 00:05:14,800 Speaker 2: mayoral primary election. Bloomberg's Lisa Matteo joins us in Manhattan 98 00:05:14,839 --> 00:05:17,159 Speaker 2: with the latest. Lisa, good morning, Good morning, Karen, and 99 00:05:17,200 --> 00:05:20,320 Speaker 2: Hopefully that heat will not affect the turnout now. Polls 100 00:05:20,320 --> 00:05:23,080 Speaker 2: open at six am and voters have a long list 101 00:05:23,120 --> 00:05:26,120 Speaker 2: of candidates choose from eleven or running for the official 102 00:05:26,120 --> 00:05:29,359 Speaker 2: Democratic ticket, but survey showed the contest comes down to 103 00:05:29,440 --> 00:05:32,400 Speaker 2: two men, former Governor Andrew Cuomo and New York State 104 00:05:32,400 --> 00:05:36,039 Speaker 2: Assembly Member so In Ramandami. Now, last night, the former 105 00:05:36,040 --> 00:05:38,279 Speaker 2: governor spoke at a rally for Cuomo for mayor. 106 00:05:39,200 --> 00:05:44,520 Speaker 9: It's about the working families, It's about the struggling middle class. 107 00:05:45,360 --> 00:05:49,320 Speaker 9: It's about people worried about the kitchen table issues, trying 108 00:05:49,320 --> 00:05:51,600 Speaker 9: to figure out how to pay for groceries and pay 109 00:05:51,640 --> 00:05:55,120 Speaker 9: for their rent, and pay for tuition and pay for taxes. 110 00:05:55,480 --> 00:05:57,520 Speaker 9: That's what the Democratic Party is. 111 00:05:57,560 --> 00:05:58,839 Speaker 3: All about now. 112 00:05:58,880 --> 00:06:02,920 Speaker 10: Meanwhile, Mandam been advocating for rend freeze's and free childcare. 113 00:06:03,440 --> 00:06:06,919 Speaker 11: New Yorkers are hungry for a new kind of politics, 114 00:06:06,920 --> 00:06:09,840 Speaker 11: the politics that puts working people first. And we're seeing 115 00:06:09,839 --> 00:06:11,800 Speaker 11: that it's not just in one borough, it's not just 116 00:06:11,800 --> 00:06:14,920 Speaker 11: with one kind of New Yorker, it's across this entire city. 117 00:06:15,320 --> 00:06:18,440 Speaker 10: Polls have largely shown Cuomo winning, but a new Emerson 118 00:06:18,520 --> 00:06:21,000 Speaker 10: College poll showed Mandanmi coming out on top in the 119 00:06:21,040 --> 00:06:25,840 Speaker 10: city's rank choice voting comptroller Brad Landler. Lander is polling 120 00:06:25,920 --> 00:06:29,120 Speaker 10: third in some surveys and has formed an alliance with Mamdanie. 121 00:06:29,440 --> 00:06:31,920 Speaker 10: He had focused on his experience as a manager and 122 00:06:31,960 --> 00:06:35,640 Speaker 10: his opposition to President Trump. City Council Speaker Adrian Adams 123 00:06:35,680 --> 00:06:39,080 Speaker 10: also vying for the nomination, running on her experience in government. 124 00:06:39,480 --> 00:06:42,800 Speaker 10: Other candidates while they include former Democratic National Committee Vice 125 00:06:42,839 --> 00:06:46,479 Speaker 10: chair Michael Blake, New York State Senator Zelnor Myrie, New 126 00:06:46,560 --> 00:06:49,679 Speaker 10: York State Senator Jessica Ramos, former New York City Controller 127 00:06:49,720 --> 00:06:54,320 Speaker 10: Scott Stringer, and retired hedge fund manager Whitney Tilson. Michael Bloomberg, 128 00:06:54,360 --> 00:06:56,960 Speaker 10: the founder majority owner of Bloomberg LP, the parent company 129 00:06:57,000 --> 00:07:01,200 Speaker 10: of Bloomberg Radio, has endorsed Andrew Cuomo Manhattan, Lis Matteo 130 00:07:01,360 --> 00:07:02,599 Speaker 10: Bloomberg Radio. 131 00:07:02,440 --> 00:07:05,320 Speaker 3: Nor Lisa thank You and This year's Democratic nominee will 132 00:07:05,320 --> 00:07:08,039 Speaker 3: face incumbent Mayor Eric Adams, who is elected, of course 133 00:07:08,080 --> 00:07:10,480 Speaker 3: as a Democrat, but he skipped today's primary to run 134 00:07:10,520 --> 00:07:14,040 Speaker 3: as an independent in November. On the Republican side of 135 00:07:14,080 --> 00:07:17,200 Speaker 3: today's ballot, Curtis Sliwa, founder of the anti crime patrol 136 00:07:17,200 --> 00:07:20,360 Speaker 3: group The Guardian Angels, is running unopposed, he will once 137 00:07:20,400 --> 00:07:22,600 Speaker 3: again be the Republican nominee. 138 00:07:22,920 --> 00:07:26,640 Speaker 2: Well, Nathan, How does ranked choice voting work? Bloomberg Gina 139 00:07:26,680 --> 00:07:29,960 Speaker 2: Survetti continues our coverage of the New York City mayoral race. 140 00:07:30,040 --> 00:07:30,880 Speaker 2: In Manhattan. 141 00:07:31,320 --> 00:07:34,160 Speaker 12: Voters choose their favorite candidate, but also can select a 142 00:07:34,200 --> 00:07:36,920 Speaker 12: second favorite, a third, and so on up to five. 143 00:07:37,400 --> 00:07:40,000 Speaker 12: If a candidate gets a majority of first place votes, 144 00:07:40,040 --> 00:07:43,440 Speaker 12: that person wins. If not, the candidate with the fewest 145 00:07:43,480 --> 00:07:47,480 Speaker 12: first place votes is eliminated. Voting machines then examine the 146 00:07:47,560 --> 00:07:50,760 Speaker 12: number two choices on every ballot cast for the eliminated 147 00:07:50,800 --> 00:07:54,400 Speaker 12: person and distribute those votes among the remaining field. The 148 00:07:54,400 --> 00:07:58,160 Speaker 12: process continues until a candidate garner's a majority. For the 149 00:07:58,200 --> 00:08:01,080 Speaker 12: New York mayoral primary, if no candidate wins more than 150 00:08:01,120 --> 00:08:04,000 Speaker 12: fifty percent of the votes on the first ballot, election 151 00:08:04,080 --> 00:08:07,200 Speaker 12: officials planned to wait a week before initiating the ranked 152 00:08:07,320 --> 00:08:11,400 Speaker 12: choice tabulation process in order to include mailed in absentee 153 00:08:11,440 --> 00:08:13,000 Speaker 12: ballots in New York. Gena. 154 00:08:13,120 --> 00:08:16,760 Speaker 3: Cervetti, Bloomberg Radio, Gina, thank you. Turning back to Washington, 155 00:08:16,800 --> 00:08:19,440 Speaker 3: the Supreme Court is allowing President Trump to resume his 156 00:08:19,560 --> 00:08:23,320 Speaker 3: program of swiftly deporting migrants to countries other than their homelands. 157 00:08:23,320 --> 00:08:26,960 Speaker 3: For now. Bloomberg Zamy Morris has more from the nation's capital. 158 00:08:27,160 --> 00:08:30,360 Speaker 13: The Supreme Court lifted a judge's order requiring the Trump 159 00:08:30,440 --> 00:08:33,480 Speaker 13: administration to give people ten days notice and a chance 160 00:08:33,520 --> 00:08:37,000 Speaker 13: to object before deporting them to a third country. The 161 00:08:37,120 --> 00:08:39,760 Speaker 13: order marks a shift for the High Court. The justices 162 00:08:40,080 --> 00:08:43,480 Speaker 13: previously pushed back against the administration's efforts to send some 163 00:08:43,559 --> 00:08:48,200 Speaker 13: immigrants to harsh or potentially dangerous locations with minimal notice. 164 00:08:48,360 --> 00:08:52,000 Speaker 13: The decision drew a scathing descent from Justice Sonya Sotomayor, 165 00:08:52,200 --> 00:08:54,559 Speaker 13: who said the High Court's action was a gross abuse 166 00:08:54,640 --> 00:08:58,119 Speaker 13: of its authority. In Washington, Amy Morris Bloomberg Radio. 167 00:08:58,080 --> 00:09:01,160 Speaker 2: Amy, thank you. Another legal blow for the President Trump 168 00:09:01,200 --> 00:09:03,760 Speaker 2: and his battle with Harvard University. For the second time 169 00:09:03,800 --> 00:09:05,960 Speaker 2: in a week, a federal judge in Boston is issued 170 00:09:06,480 --> 00:09:10,600 Speaker 2: a court order letting the Ivy League keep hosting foreign students. 171 00:09:10,840 --> 00:09:13,000 Speaker 2: The President had tried to bar the students, setting a 172 00:09:13,080 --> 00:09:19,400 Speaker 2: law to safeguard national security. Time off for a look 173 00:09:19,400 --> 00:09:21,160 Speaker 2: at some of the other stories making news in New 174 00:09:21,240 --> 00:09:22,920 Speaker 2: York and around the world, And for that we're joined 175 00:09:22,920 --> 00:09:25,640 Speaker 2: by Bloomberg's Michael Barr, Michael Good morning. 176 00:09:25,440 --> 00:09:29,720 Speaker 14: Good morning, Karen. Oppressive heat and humanity are slamming nearly 177 00:09:29,800 --> 00:09:33,079 Speaker 14: half the country, and today is going to be another 178 00:09:33,200 --> 00:09:38,280 Speaker 14: hot day for many. Bloomberg meniorrologist Rob Carolyn has the latest, Michael. 179 00:09:38,360 --> 00:09:41,000 Speaker 15: High pressure remains situated over the Carolinas, so the hot 180 00:09:41,000 --> 00:09:43,679 Speaker 15: weather continues. We have extreme heat warnings stretching from the 181 00:09:43,760 --> 00:09:47,000 Speaker 15: Carolinas through the district in Baltimore on through Philadelphia, New York, 182 00:09:47,000 --> 00:09:49,520 Speaker 15: and up into southern New England. Many of these cities 183 00:09:49,559 --> 00:09:52,080 Speaker 15: are going to see afternoon high temperatures at or above 184 00:09:52,120 --> 00:09:54,559 Speaker 15: one hundred degrees with the heat index over one hundred 185 00:09:54,559 --> 00:09:56,520 Speaker 15: and five, and that's why those extreme heat warnings are 186 00:09:56,559 --> 00:09:58,560 Speaker 15: in effect. Further to the west, we're looking at lots 187 00:09:58,559 --> 00:10:00,920 Speaker 15: of heat advisories. How he is going to continue to 188 00:10:00,960 --> 00:10:02,800 Speaker 15: shift down into the Atlantics. Of the hot weather in 189 00:10:02,840 --> 00:10:06,079 Speaker 15: many locations continues into Wednesday, if not Thursday. 190 00:10:06,400 --> 00:10:06,760 Speaker 3: Michael. 191 00:10:07,120 --> 00:10:10,320 Speaker 14: Thanks Rob. A jury has now watched nearly forty five 192 00:10:10,360 --> 00:10:14,920 Speaker 14: minutes of recordings of marathon sex events, considered important evidence 193 00:10:14,960 --> 00:10:18,360 Speaker 14: in the sex trafficking and racketeering trial of music mogul 194 00:10:18,480 --> 00:10:22,679 Speaker 14: Sean Diddy Combs. The prosecution says the jury viewed explicit 195 00:10:22,800 --> 00:10:27,920 Speaker 14: footage of two of Combe's former girlfriends sexually involved with 196 00:10:28,040 --> 00:10:31,760 Speaker 14: male sex workers while he filmed the encounters. Combs has 197 00:10:31,800 --> 00:10:35,120 Speaker 14: pleaded not guilty to the charges. Prosecutors planned to rest 198 00:10:35,120 --> 00:10:39,680 Speaker 14: today after a defense presentation. Closing arguments are scheduled for Thursday. 199 00:10:40,240 --> 00:10:43,920 Speaker 14: Attorney General Pam Bondi's hearing before the House Appropriations Committee 200 00:10:43,960 --> 00:10:49,400 Speaker 14: quickly devolved into shouting matches with Democratic lawmakers. Democratic Representative 201 00:10:49,520 --> 00:10:53,840 Speaker 14: Madeleine Dean of Pennsylvania pressed Bondi about reports that she 202 00:10:54,000 --> 00:10:57,559 Speaker 14: advised and signed off on President Trump's acceptance of a 203 00:10:57,640 --> 00:10:58,880 Speaker 14: luxury jet from Cutter. 204 00:11:00,000 --> 00:11:03,680 Speaker 12: True that you gave advice that this was legally permissible? 205 00:11:03,920 --> 00:11:07,960 Speaker 13: Yes or no. I will not discuss any advice that 206 00:11:08,040 --> 00:11:11,280 Speaker 13: my Office of Legal Counsel gives to the President of 207 00:11:11,320 --> 00:11:13,480 Speaker 13: the United States on any matter. 208 00:11:14,600 --> 00:11:18,240 Speaker 14: Meanwhile, Senate Republicans are considering a forty thousand dollars cap 209 00:11:18,280 --> 00:11:21,199 Speaker 14: on state and local tax deductions, but want to lower 210 00:11:21,240 --> 00:11:24,600 Speaker 14: the income threshold. It's a bid to resolve a standoff 211 00:11:24,640 --> 00:11:28,439 Speaker 14: with House Republicans. Senator Mark Wayne Mullen of Oklahoma, a 212 00:11:28,520 --> 00:11:30,959 Speaker 14: key negotiator, said he plans to make the offer to 213 00:11:31,000 --> 00:11:34,199 Speaker 14: House Republicans from New York, New Jersey and California. Other 214 00:11:34,280 --> 00:11:37,120 Speaker 14: issues still need to be resolved, including Medicaid cuts to 215 00:11:37,520 --> 00:11:41,240 Speaker 14: rural hospitals. Global news twenty four hours a day and 216 00:11:41,360 --> 00:11:43,760 Speaker 14: whenever you want it with the Bloomberg News Now, I'm 217 00:11:43,760 --> 00:11:45,600 Speaker 14: Michael Barn. This is Bloomberg Heron. 218 00:11:46,040 --> 00:11:53,280 Speaker 2: All right, Michael Barr, thank you. It is time now 219 00:11:53,320 --> 00:11:56,200 Speaker 2: for the Bloomberg Sports Update, and here's John stash Hour. 220 00:11:56,320 --> 00:11:57,680 Speaker 3: John, Good morning, morning Karen. 221 00:11:57,720 --> 00:11:59,959 Speaker 16: It was just ten days ago the Mets were flying 222 00:12:00,200 --> 00:12:02,040 Speaker 16: in high They had won fifteen of eighteen. They were 223 00:12:02,080 --> 00:12:04,400 Speaker 16: twenty seven and seven at home. They had the best 224 00:12:04,440 --> 00:12:06,839 Speaker 16: record in baseball, a five and a half game lead 225 00:12:06,880 --> 00:12:10,560 Speaker 16: in the NL. Since then, ten games, nine losses. They 226 00:12:10,640 --> 00:12:13,160 Speaker 16: scored only nineteen runs in those nine defeats, so I 227 00:12:13,240 --> 00:12:16,280 Speaker 16: won four. Versus Atlanta, the Braids won three to two 228 00:12:16,360 --> 00:12:18,920 Speaker 16: at City Field and now second place Mets got a 229 00:12:18,920 --> 00:12:21,200 Speaker 16: two run homer from Juan Soto, but nothing else. For 230 00:12:21,320 --> 00:12:22,600 Speaker 16: manager Carlos Mendoza. 231 00:12:23,040 --> 00:12:26,400 Speaker 17: Once the bottom of the lineup, we're having a hard 232 00:12:26,400 --> 00:12:30,280 Speaker 17: time creating opportunities. You normally we religned pretty much on 233 00:12:30,320 --> 00:12:33,600 Speaker 17: the top four five guys, and then if those guys 234 00:12:33,840 --> 00:12:36,400 Speaker 17: in the bottom are not able to get on base, 235 00:12:37,760 --> 00:12:39,800 Speaker 17: that's why we're having a hard time scoring runs right now. 236 00:12:39,880 --> 00:12:43,520 Speaker 16: Mendoza Tonight will start Frankie Montas it'll be his Mets debut. 237 00:12:43,600 --> 00:12:45,839 Speaker 16: Yankees in Cincinnati had a first anting home run from 238 00:12:45,840 --> 00:12:49,040 Speaker 16: Aaron Judges twenty eight. Nothing after that. Yanks loss of 239 00:12:49,080 --> 00:12:51,280 Speaker 16: the red six to one, Red Sox loss of the 240 00:12:51,320 --> 00:12:54,400 Speaker 16: Angels nine to five. Nationals won ten six in San 241 00:12:54,480 --> 00:12:58,320 Speaker 16: Diego and Seattle's win at Minnesota. Home run number thirty 242 00:12:58,360 --> 00:13:01,319 Speaker 16: two for the Mariners switch hitting catcher Cal Rawley. 243 00:13:01,400 --> 00:13:03,120 Speaker 3: He's hit five in his last four games. 244 00:13:03,320 --> 00:13:05,839 Speaker 16: The NBA Draft against tomorrow, the Celtics, that have moved 245 00:13:05,880 --> 00:13:09,240 Speaker 16: to save money, traded Drew Holiday to Portland for Anthony 246 00:13:09,320 --> 00:13:11,000 Speaker 16: Simon's in two second round picks. 247 00:13:11,000 --> 00:13:13,600 Speaker 3: This saves the Celtics forty million. In the Luxury Tacks. 248 00:13:13,880 --> 00:13:17,120 Speaker 16: Tyrese Halliburton had surgery on the torn achilles he suffered 249 00:13:17,160 --> 00:13:19,160 Speaker 16: in Games seven of the Finals. He had a calf 250 00:13:19,200 --> 00:13:21,920 Speaker 16: injury going in said he has no regrets trying to play. 251 00:13:22,320 --> 00:13:25,559 Speaker 16: The Pacers and Celtics are gonna play most, if not all, 252 00:13:25,600 --> 00:13:29,080 Speaker 16: of next season without their star players. Both Halliburton and 253 00:13:29,200 --> 00:13:31,960 Speaker 16: Jason Tatum tore their achilles in the playoffs. That should 254 00:13:31,960 --> 00:13:33,480 Speaker 16: help the Knicks in the East. 255 00:13:33,880 --> 00:13:35,000 Speaker 3: Nick still without a coach. 256 00:13:35,120 --> 00:13:38,640 Speaker 16: Latest name linked to the Knicks job James Barrego, former 257 00:13:38,720 --> 00:13:41,679 Speaker 16: coach in Charlotte, John Stanshatward Bloomberg Sports. 258 00:13:41,440 --> 00:13:42,200 Speaker 13: Karen Nathan. 259 00:13:44,520 --> 00:13:48,680 Speaker 1: Coast to Coast on Bloomberg Radio nationwide on Serious Exam 260 00:13:48,840 --> 00:13:51,680 Speaker 1: and around the world on Bloomberg dot Com and the 261 00:13:51,720 --> 00:13:54,800 Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak. 262 00:13:54,920 --> 00:13:58,600 Speaker 3: Good morning, I'm Nathan Hager. A ceasefire announcement between Israel 263 00:13:58,640 --> 00:14:02,160 Speaker 3: and Iran may already be in doubt hours after President 264 00:14:02,200 --> 00:14:05,680 Speaker 3: Donald Trump posted about it on social media. Israel is 265 00:14:05,720 --> 00:14:09,320 Speaker 3: accusing Iran of breaching the truce, joining us from Tel 266 00:14:09,320 --> 00:14:13,520 Speaker 3: Aviv Bloomberg News Israel Bureau Chief Ethan Bronner Ethan, good morning. 267 00:14:13,520 --> 00:14:16,800 Speaker 3: We've seen a flurry of headlines since the President posted 268 00:14:16,800 --> 00:14:19,720 Speaker 3: that cease fire announcement last night on truth Social what's 269 00:14:19,760 --> 00:14:20,840 Speaker 3: the latest? You can tell. 270 00:14:20,760 --> 00:14:24,680 Speaker 18: Us well, as you said, Nathan, So right after the 271 00:14:24,720 --> 00:14:28,480 Speaker 18: President issue this announcement, there was I think there were 272 00:14:28,600 --> 00:14:33,640 Speaker 18: six volleys of missiles at Israel repeatedly. One after there 273 00:14:33,720 --> 00:14:36,160 Speaker 18: was forty minutes or so we were running in and 274 00:14:36,200 --> 00:14:40,200 Speaker 18: out of bomb shelters. But then the Israelis announced that 275 00:14:40,240 --> 00:14:42,200 Speaker 18: they had accepted it as well, and it seemed it 276 00:14:42,240 --> 00:14:46,160 Speaker 18: was happening. And then just a little while ago, two 277 00:14:46,200 --> 00:14:49,880 Speaker 18: more missiles went to the north. The Iranians apparently say 278 00:14:49,920 --> 00:14:53,160 Speaker 18: they didn't send them, but the Israelis are quite clear 279 00:14:53,240 --> 00:14:55,200 Speaker 18: that who did send them, and they've already seen a 280 00:14:55,200 --> 00:14:58,840 Speaker 18: fragment of it landed in northern Israel. So there clearly 281 00:14:58,960 --> 00:15:02,360 Speaker 18: was some kind of a vile and the Israelis have 282 00:15:02,480 --> 00:15:06,400 Speaker 18: threatened said they're going to carry out a very severe 283 00:15:06,440 --> 00:15:11,800 Speaker 18: attack in Tehran in retaliation. So you're right that it's 284 00:15:11,800 --> 00:15:15,120 Speaker 18: a pretty fragile. My instinct is that it will evolve 285 00:15:15,320 --> 00:15:17,840 Speaker 18: in the next hours, that we will see some kind 286 00:15:17,840 --> 00:15:20,280 Speaker 18: of a truce, because everyone seems to want it, but 287 00:15:20,400 --> 00:15:20,960 Speaker 18: you never know. 288 00:15:22,000 --> 00:15:25,280 Speaker 3: What do we know about the terms of the truth 289 00:15:25,560 --> 00:15:29,000 Speaker 3: that were announced by President Trump last night. How is 290 00:15:29,040 --> 00:15:29,800 Speaker 3: it going to work? 291 00:15:31,080 --> 00:15:35,480 Speaker 18: We don't really know. I'm assuming that there will be 292 00:15:35,640 --> 00:15:40,200 Speaker 18: a kind of formal, you know, quiet for quiet announcement 293 00:15:40,360 --> 00:15:44,360 Speaker 18: between Israel and Iran, and then there'll be a sort 294 00:15:44,360 --> 00:15:48,280 Speaker 18: of unspoken agreement between the United States and Israel, as 295 00:15:48,320 --> 00:15:51,760 Speaker 18: there is with regard to Levin and Hazbollah, in which 296 00:15:51,880 --> 00:15:56,160 Speaker 18: Israel says, if we see clear violations, we are going 297 00:15:56,200 --> 00:15:58,400 Speaker 18: to take you to a lateral action, and the Americans 298 00:15:58,400 --> 00:16:01,480 Speaker 18: are going to say fine. By now, Iran is a 299 00:16:01,480 --> 00:16:04,440 Speaker 18: lot farther away than Lebanon and a lot harder to 300 00:16:04,520 --> 00:16:08,240 Speaker 18: suddenly take action. But that's my instinct about where we're headed. 301 00:16:08,760 --> 00:16:14,840 Speaker 3: Okay. Now, ahead of this apparent break of the seafire, 302 00:16:15,360 --> 00:16:18,440 Speaker 3: Israel had said that it achieved its war aims in 303 00:16:18,840 --> 00:16:22,479 Speaker 3: agreeing to this. Does that mean from the Israeli perspective 304 00:16:22,520 --> 00:16:25,400 Speaker 3: that it no longer sees Iran as a nuclear thread. 305 00:16:27,120 --> 00:16:28,840 Speaker 19: I think it more or less means that, or at 306 00:16:28,920 --> 00:16:32,000 Speaker 19: least that it's its nuclear program is set back sufficiently 307 00:16:32,200 --> 00:16:35,400 Speaker 19: two years or something that it's going to be very 308 00:16:35,440 --> 00:16:38,440 Speaker 19: hard if you have all of these broken centrifuges and 309 00:16:38,560 --> 00:16:42,120 Speaker 19: all of these enrichment sites that are impossible to get 310 00:16:42,160 --> 00:16:43,760 Speaker 19: into or to send. 311 00:16:43,520 --> 00:16:46,000 Speaker 18: Power to it for a while. I think there's the 312 00:16:46,080 --> 00:16:48,200 Speaker 18: sense that we need to still see all of that 313 00:16:48,960 --> 00:16:54,000 Speaker 18: with greater clarity. The yes as a nuclear threshold state 314 00:16:54,440 --> 00:16:58,040 Speaker 18: Iran has been pushed aside for now, and the Israeli 315 00:16:58,120 --> 00:17:01,120 Speaker 18: is also saying that they took care of eighty percent 316 00:17:01,680 --> 00:17:05,679 Speaker 18: of the launchers of ballistic missiles, and so that's the 317 00:17:05,760 --> 00:17:08,560 Speaker 18: less of a threat as well. Obviously it is in 318 00:17:08,720 --> 00:17:12,399 Speaker 18: total victory, but enough for them to declare it as such. 319 00:17:13,000 --> 00:17:16,920 Speaker 3: And of course it came after Iran lobbed the same 320 00:17:17,000 --> 00:17:20,320 Speaker 3: number of missiles as the amount of bunker buster bombs 321 00:17:20,359 --> 00:17:24,000 Speaker 3: that the US dropped on its nuclear sites over the weekend. 322 00:17:24,080 --> 00:17:27,879 Speaker 3: What can we expect when it comes to further US 323 00:17:28,040 --> 00:17:31,600 Speaker 3: involvement here, Well, I mean the. 324 00:17:31,600 --> 00:17:34,480 Speaker 18: Numbers may have been the same, but it was a 325 00:17:34,480 --> 00:17:37,560 Speaker 18: little bit like a kabuki theater. I mean, they dropped 326 00:17:37,600 --> 00:17:42,760 Speaker 18: fourteen missile some kind of projectiles on an American base, 327 00:17:42,840 --> 00:17:45,600 Speaker 18: but they told the Americans and the Kataris where the 328 00:17:45,640 --> 00:17:50,119 Speaker 18: base is in advance. They were all stopped. President Trump 329 00:17:50,200 --> 00:17:52,400 Speaker 18: was kind of narrating it on his truth social as 330 00:17:52,400 --> 00:17:54,960 Speaker 18: it was happening, So it was kind of an active theater. 331 00:17:55,119 --> 00:17:58,560 Speaker 18: I don't think the Americans are planning any kind of retaliation, 332 00:17:58,800 --> 00:18:02,120 Speaker 18: and everyone's hoping that would be it from that perspective. 333 00:18:02,880 --> 00:18:06,119 Speaker 3: So does that mean that we could see resumption of 334 00:18:06,480 --> 00:18:10,919 Speaker 3: discussions around Iran's nuclear program? As you mentioned, there are 335 00:18:10,960 --> 00:18:14,320 Speaker 3: still a lot of questions about the status of the 336 00:18:14,359 --> 00:18:16,320 Speaker 3: program following all these attacks. 337 00:18:17,119 --> 00:18:21,160 Speaker 18: Yes, I assume there will be an attempt to get 338 00:18:21,160 --> 00:18:24,200 Speaker 18: these talks going again. But I think that the American 339 00:18:24,240 --> 00:18:27,600 Speaker 18: and the Rushalian perspective is that what has been destroyed 340 00:18:27,680 --> 00:18:31,280 Speaker 18: is so significant that there isn't an urgency to the 341 00:18:31,320 --> 00:18:32,959 Speaker 18: talks the way there once was. 342 00:18:34,800 --> 00:18:39,320 Speaker 3: So to that extent, where does this last twelve days 343 00:18:39,400 --> 00:18:43,000 Speaker 3: since the Israeli attack on Iran that began all this, 344 00:18:43,119 --> 00:18:46,800 Speaker 3: where does this leave the Iranian regime Ethan? I mean, 345 00:18:47,040 --> 00:18:50,760 Speaker 3: we've seen President Trump muse kind of openly about the 346 00:18:50,800 --> 00:18:54,359 Speaker 3: possibility of regime change by the Iranian people. Could it 347 00:18:54,440 --> 00:18:54,920 Speaker 3: go there? 348 00:18:56,119 --> 00:18:59,879 Speaker 18: Look, I think nobody really you know, predicting revolutions and 349 00:19:00,240 --> 00:19:05,879 Speaker 18: who's is a fool's errand But obviously this government in 350 00:19:05,960 --> 00:19:08,960 Speaker 18: arab this regime is as weak as it has ever been, 351 00:19:09,720 --> 00:19:12,320 Speaker 18: as threatened as it has ever been. It is held on, 352 00:19:13,480 --> 00:19:15,560 Speaker 18: you know, it's got all the leavers of power still 353 00:19:15,600 --> 00:19:18,600 Speaker 18: in its hands. So I don't know what's going to 354 00:19:18,640 --> 00:19:22,200 Speaker 18: happen to it, but there's no question that you know, 355 00:19:22,359 --> 00:19:26,920 Speaker 18: it's friends Russia. China did not come to its aid militarily. 356 00:19:27,720 --> 00:19:33,399 Speaker 18: Its proxies in Lebanon and in Syria and Iraq have 357 00:19:33,520 --> 00:19:39,000 Speaker 18: been almost entirely not eliminated, but certainly diminish. And so 358 00:19:39,160 --> 00:19:42,280 Speaker 18: it is a shadow of its former self as a 359 00:19:42,320 --> 00:19:45,840 Speaker 18: regional power today, and that is what Israel wanted. 360 00:19:46,600 --> 00:19:48,879 Speaker 3: Thank you for this, Ethan. Great to have you with 361 00:19:48,960 --> 00:19:51,840 Speaker 3: us this morning. That is Ethan Bronner joining us from 362 00:19:51,880 --> 00:19:56,480 Speaker 3: Tel Aviv, Israel Bureau chief for Bloomberg News, Karen Nathan. 363 00:19:56,280 --> 00:19:59,080 Speaker 2: Let's repeat some of our top stories this morning. President 364 00:19:59,080 --> 00:20:02,440 Speaker 2: Trump says he hopes Congress really works fed share J. 365 00:20:02,680 --> 00:20:05,760 Speaker 2: Powell as he gets ready for two days of testimony today. 366 00:20:06,040 --> 00:20:08,680 Speaker 2: The President says interest rates should be two to three 367 00:20:08,680 --> 00:20:12,399 Speaker 2: points lower. Another legal blow for President Trump and his 368 00:20:12,440 --> 00:20:15,080 Speaker 2: battle with Harvard. For the second time in a week, 369 00:20:15,119 --> 00:20:18,000 Speaker 2: a federal judge in Boston is issued a court order 370 00:20:18,080 --> 00:20:21,520 Speaker 2: letting the Ivy League keep hosting foreign students and its 371 00:20:21,600 --> 00:20:24,439 Speaker 2: primary day in New York City, voters will contend with 372 00:20:24,520 --> 00:20:28,400 Speaker 2: extreme heat and a ranked choice ballot in the Democratic 373 00:20:28,480 --> 00:20:30,800 Speaker 2: race for mayor. We have more in those stories coming 374 00:20:30,880 --> 00:20:32,520 Speaker 2: up on Bloomberg Daybreak, Nathan. 375 00:20:32,640 --> 00:20:34,399 Speaker 3: All right, Kather, and thank you for that. It is 376 00:20:34,400 --> 00:20:36,720 Speaker 3: a five point twenty two on Wall Street. Want to 377 00:20:36,760 --> 00:20:39,240 Speaker 3: turn now to another one of our top stories. What's 378 00:20:39,240 --> 00:20:42,080 Speaker 3: happening in the Hague. Later today, leaders from the NATO 379 00:20:42,160 --> 00:20:46,080 Speaker 3: Alliance gathering for their annual two day summit, looking to 380 00:20:46,480 --> 00:20:50,800 Speaker 3: lock in big defense spending increases as President Trump prepares 381 00:20:50,840 --> 00:20:53,160 Speaker 3: to make his way to the event. Joining us from 382 00:20:53,240 --> 00:20:56,760 Speaker 3: the Hague this morning is Bloomberg's Oliver Crook. Great to 383 00:20:56,800 --> 00:21:00,000 Speaker 3: speak with you this morning, Oliver, after we heard from 384 00:21:00,080 --> 00:21:03,159 Speaker 3: the Secretary General of NATO Mark Rutta talking about a 385 00:21:03,720 --> 00:21:07,600 Speaker 3: five percent of GDP defense spending goal that would be 386 00:21:07,680 --> 00:21:11,119 Speaker 3: a huge increase from current levels. Does that look like 387 00:21:11,160 --> 00:21:15,399 Speaker 3: it's going to hold? Good morning, Nathan. 388 00:21:15,480 --> 00:21:16,919 Speaker 20: Yeah, it does look like it's going to hold at 389 00:21:16,920 --> 00:21:18,480 Speaker 20: this stage. I mean, there's a little bit of infighting 390 00:21:18,480 --> 00:21:20,360 Speaker 20: which we can get into, but you know, I think 391 00:21:20,359 --> 00:21:22,840 Speaker 20: that what we've learned about the Trump administration and Donald 392 00:21:22,840 --> 00:21:25,719 Speaker 20: Trump itself is he likes one big, beautiful number, and 393 00:21:25,720 --> 00:21:27,879 Speaker 20: that big beautiful number that NATO wants to present to 394 00:21:27,960 --> 00:21:30,800 Speaker 20: him in order to guarantee continued US support of the 395 00:21:30,840 --> 00:21:34,040 Speaker 20: alliance is five percent five percent of GDP spend on 396 00:21:34,040 --> 00:21:37,240 Speaker 20: an annual basis of every single country within the NATO Alliance. 397 00:21:37,359 --> 00:21:40,879 Speaker 20: As you say, Nathan, the previous requirements were two percent. 398 00:21:41,119 --> 00:21:43,520 Speaker 20: Most countries were not hitting that for a very long 399 00:21:43,560 --> 00:21:46,280 Speaker 20: time you take the average of the last decade, in 400 00:21:46,560 --> 00:21:49,200 Speaker 20: removing the United States, it's closer to one point six percent. 401 00:21:49,440 --> 00:21:52,000 Speaker 20: And now you're in a position where you have these 402 00:21:52,080 --> 00:21:54,800 Speaker 20: nations lining up to basically guarantee to spend about five 403 00:21:54,840 --> 00:21:57,360 Speaker 20: percent of their GDP on defense. Now we should say 404 00:21:57,359 --> 00:22:00,360 Speaker 20: this is not strictly speaking a real five percent. Only 405 00:22:00,440 --> 00:22:02,399 Speaker 20: three point five percent of that is going to be 406 00:22:02,480 --> 00:22:05,119 Speaker 20: on the sort of hard military hardware, the kind of 407 00:22:05,119 --> 00:22:09,240 Speaker 20: traditional military spending we think about guns, ammunition, tanks, aircraft 408 00:22:09,760 --> 00:22:11,879 Speaker 20: and those sorts of things. One point five of that 409 00:22:11,920 --> 00:22:14,000 Speaker 20: is going to be sort of defense adjacent. So let's 410 00:22:14,000 --> 00:22:16,359 Speaker 20: say there is theoretically a war on the eastern flank 411 00:22:16,359 --> 00:22:18,600 Speaker 20: of NATO. You need roads and railways that can carry 412 00:22:18,640 --> 00:22:21,159 Speaker 20: tanks around. You need cybersecurity defense, so those sorts of 413 00:22:21,200 --> 00:22:23,639 Speaker 20: things could also be included. But we should say, Nathan, 414 00:22:23,640 --> 00:22:25,280 Speaker 20: that this, despite the fact that it's maybe not a 415 00:22:25,320 --> 00:22:28,399 Speaker 20: clear and pure five percent, this is a massive uptick 416 00:22:28,440 --> 00:22:31,000 Speaker 20: in terms of European defense spending. And this is something 417 00:22:31,040 --> 00:22:34,400 Speaker 20: that frankly six months ago was completely inconceivable and it's 418 00:22:34,440 --> 00:22:36,520 Speaker 20: becoming a reality over the next couple of days. 419 00:22:37,119 --> 00:22:38,840 Speaker 3: We had heard in the lead up to this Oliver 420 00:22:38,960 --> 00:22:42,680 Speaker 3: that Spain was holding out on committing to that five 421 00:22:42,760 --> 00:22:48,399 Speaker 3: percent target. How serious is Spain's sort of reluctance to 422 00:22:48,640 --> 00:22:49,560 Speaker 3: go forward with this. 423 00:22:52,040 --> 00:22:54,119 Speaker 20: Yeah, they've been really sort of a holdout, and this 424 00:22:54,160 --> 00:22:56,160 Speaker 20: has been a big topic of conversation over the last 425 00:22:56,200 --> 00:22:58,280 Speaker 20: couple of days. I've spoken to a number of defense 426 00:22:58,320 --> 00:23:00,760 Speaker 20: at foreign ministers over the last couple of day, they 427 00:23:01,280 --> 00:23:03,480 Speaker 20: from different European nations. They seem to think that Spain 428 00:23:03,560 --> 00:23:05,680 Speaker 20: is going to get on board. Basically how it works 429 00:23:05,680 --> 00:23:08,200 Speaker 20: as NATO assigns a certain amount of hardware and things 430 00:23:08,320 --> 00:23:10,960 Speaker 20: that each of its members need to basically participate in. 431 00:23:11,240 --> 00:23:13,480 Speaker 20: The point is that Spain says that they can basically 432 00:23:13,520 --> 00:23:16,760 Speaker 20: meet those requirements without spending the three point five percent, 433 00:23:16,800 --> 00:23:18,520 Speaker 20: but can do it with two point one percent. But 434 00:23:18,560 --> 00:23:20,359 Speaker 20: we even heard from Mark Rote yesterday saying that he 435 00:23:20,440 --> 00:23:22,680 Speaker 20: really doesn't think that that's possible and there can't really 436 00:23:22,720 --> 00:23:26,000 Speaker 20: be two speeds and two different requirements for different members 437 00:23:26,040 --> 00:23:28,000 Speaker 20: of NATO. And the second that sort of Spain is 438 00:23:28,080 --> 00:23:30,240 Speaker 20: unwilling to do it. Then you heard started hearing sounds 439 00:23:30,240 --> 00:23:32,399 Speaker 20: from Slovakia. So really what they need to do is 440 00:23:32,400 --> 00:23:34,760 Speaker 20: to present a united front. It's hard to imagine that 441 00:23:34,800 --> 00:23:36,560 Speaker 20: they sort of blow up this whole arrangement just because 442 00:23:36,560 --> 00:23:38,120 Speaker 20: Spain doesn't get on board. So I have to watch 443 00:23:38,119 --> 00:23:39,639 Speaker 20: what we get over the next twenty four hours. 444 00:23:39,960 --> 00:23:42,200 Speaker 3: And as we wait for a President Trump to make 445 00:23:42,280 --> 00:23:46,639 Speaker 3: his way over there following the announcement of the cease fire, 446 00:23:47,200 --> 00:23:50,680 Speaker 3: with the shakiness surrounding that, Now, where does this position 447 00:23:50,760 --> 00:23:55,400 Speaker 3: President Trump as he heads to NATO. 448 00:23:55,600 --> 00:23:57,520 Speaker 20: Yeah, so it's a really interesting question. It's something that 449 00:23:57,520 --> 00:23:59,360 Speaker 20: I've been sort of wondering about. You know, if he's 450 00:23:59,359 --> 00:24:01,879 Speaker 20: got basically a big win under his belt, saying that 451 00:24:01,920 --> 00:24:05,639 Speaker 20: he's a destroyed all of Iran's nuclear facilities or to 452 00:24:05,680 --> 00:24:07,919 Speaker 20: a very large extent, b has managed to sort of 453 00:24:07,960 --> 00:24:10,600 Speaker 20: negotiate a ceasefire. He comes to the sort of NATO 454 00:24:10,640 --> 00:24:13,199 Speaker 20: meeting potentially in high spirits, but also in a position 455 00:24:13,240 --> 00:24:15,320 Speaker 20: to basically make a lot of demands and to feel 456 00:24:15,400 --> 00:24:17,480 Speaker 20: very sort of good about pushing around the rest of 457 00:24:17,520 --> 00:24:20,080 Speaker 20: the world because, as we know, the Europeans have basically 458 00:24:20,119 --> 00:24:23,160 Speaker 20: had zero influence on the situation in the Middleies, whether 459 00:24:23,200 --> 00:24:25,920 Speaker 20: it's Gaza, whether it's Iran, all of these sorts of things. 460 00:24:25,920 --> 00:24:28,480 Speaker 20: And he comes here to NATO and really does feel 461 00:24:28,480 --> 00:24:30,240 Speaker 20: a little bit like the sort of you know, the 462 00:24:30,320 --> 00:24:32,400 Speaker 20: King of NATO. This is all down to the fact 463 00:24:32,400 --> 00:24:35,680 Speaker 20: that basically the Trump administration, Donald Trump has threatened basically 464 00:24:35,720 --> 00:24:38,280 Speaker 20: not to come to the aid of certain NATO members 465 00:24:38,280 --> 00:24:40,000 Speaker 20: if they do not reach their targets, and that is 466 00:24:40,040 --> 00:24:42,199 Speaker 20: what has got everybody in line. But likely if he 467 00:24:42,280 --> 00:24:43,840 Speaker 20: still comes to the summit, and that is our base 468 00:24:43,840 --> 00:24:46,640 Speaker 20: case assumption, that he will be becoming a in high 469 00:24:46,680 --> 00:24:49,359 Speaker 20: spirits and be in a very sort of powerful position, 470 00:24:49,400 --> 00:24:51,200 Speaker 20: even more powerful potentially than previously. 471 00:24:51,440 --> 00:24:54,840 Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories 472 00:24:54,920 --> 00:24:57,960 Speaker 2: making news from Wall Street to Washington and beyond. 473 00:24:58,200 --> 00:25:00,600 Speaker 3: Look for us on your podcast feed by six am 474 00:25:00,640 --> 00:25:04,040 Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen. 475 00:25:04,240 --> 00:25:07,120 Speaker 2: You can also listen live each morning starting at five 476 00:25:07,160 --> 00:25:09,760 Speaker 2: am Wall Street Time on Bloomberg eleven three to zero 477 00:25:09,880 --> 00:25:12,760 Speaker 2: in New York, Bloomberg in ninety nine to one in Washington, 478 00:25:12,840 --> 00:25:16,760 Speaker 2: Bloomberg ninety two nine in Boston, and nationwide on serious 479 00:25:16,960 --> 00:25:18,520 Speaker 2: XM Channel one twenty one. 480 00:25:18,920 --> 00:25:21,640 Speaker 3: Plus listen coast to coast on the Bloomberg Business app 481 00:25:21,720 --> 00:25:25,240 Speaker 3: Now with Apple CarPlay and Android Atto interfaces. 482 00:25:24,720 --> 00:25:27,760 Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's 483 00:25:27,760 --> 00:25:30,520 Speaker 2: the latest news, whenever you want it in five minutes 484 00:25:30,600 --> 00:25:33,720 Speaker 2: or less. Search Bloomberg News Now on your favorite podcast 485 00:25:33,760 --> 00:25:37,920 Speaker 2: platform to stay informed all day long. I'm Karen Moscow. 486 00:25:37,720 --> 00:25:40,240 Speaker 3: And I'm Nathan Hager. Join us again tomorrow morning for 487 00:25:40,280 --> 00:25:42,200 Speaker 3: all the news you need to start your day right 488 00:25:42,240 --> 00:25:43,479 Speaker 3: here on Bloomberg Day. 489 00:25:43,560 --> 00:25:43,720 Speaker 12: Ray