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

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

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Speaker 2: are the stories we're following today, Karen. The war with

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Speaker 2: Iran is now into a fourth day. This morning, Israel

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Speaker 2: says it struck the Islamic Republic's leadership compound in Tehran,

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Speaker 2: including the presidential offices and the Supreme National Security Council building. Overnight,

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Speaker 2: a pair of drones struck near the US Embassy in

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Speaker 2: riodd Saudi Arabia. Non emergency staff at the American Embassy

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Speaker 2: in Baghdad have been ordered to depart. The State Department

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Speaker 2: is urging Americans across the Middle East to leave as

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Speaker 2: soon as they can. As President Trump vows, the US

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Speaker 2: will do, in his words, whatever it takes to achieve

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Speaker 2: its goals.

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Speaker 3: We have right from the beginning, we projected four to

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Speaker 3: five weeks, but we have capability to go far longer

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Speaker 3: than that.

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Speaker 4: We'll do it.

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Speaker 5: President Trump gave his first public comment on the war

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Speaker 5: at the White House. Secretary of State Marco Rubio isn't

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Speaker 5: providing a timetable, but he says the US is justified

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Speaker 5: in going after Iran. There absolutely was an imminent threat,

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Speaker 5: and the imminent threat was that we knew that if

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Speaker 5: Iran was attacked, and we believe they would be attacked,

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Speaker 5: that they would immediately come after. US Secretary Rubio spoke

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Speaker 5: ahead of a briefing of the so called Gang of

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Speaker 5: Eight on Capitol Hill. Of full congressional briefing is set

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Speaker 5: for later today. The US military says it has destroyed

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Speaker 5: Islamic Revolutionary Guard Core command and control facilities, Iranian Air

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Speaker 5: Defence's missile and drone launch sites, and military airfields. US

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Speaker 5: Central Command says six US service members have been killed

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Speaker 5: in action as of late yesterday. Iran's Tosdam News agency

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Speaker 5: says the death toll since Saturday has risen to seven

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Speaker 5: hundred and eighty seven.

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Speaker 4: Bull Nathan.

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Speaker 2: UK Prime Minister Kiir Starmer says Britain will not join

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Speaker 2: the US in offensive action against Iran. He told Parliament

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Speaker 2: this government does not believe in regime change from the Skies.

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Speaker 6: We all remember but the mistakes of Iraq and we

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Speaker 6: have learned those lessons. Any UK actions must always have

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Speaker 6: a lawful basis and a viable thought through clad.

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Speaker 2: UK Prime Minister here Starmer has allowed UK military bases

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Speaker 2: to be involved in limited strikes to take out Iranian

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Speaker 2: missile launchers. President Trump says he's quote very sad that

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Speaker 2: tis of the UK have become stretched. He ramped up

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Speaker 2: his criticism of Starmer in an interview with The Sun tabloid.

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Speaker 5: Caring A planned summit between President Trump and Chinese President

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Speaker 5: Shi Jinping is pushing ahead despite US strikes against Iran.

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Speaker 5: Bloomberg News has learned US and Chinese trade negotiators are

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Speaker 5: slated to meet in the middle of this month. It

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Speaker 5: would mark the first sit down between high level US

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Speaker 5: and Chinese officials since the Supreme Court dealt the bloat.

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Speaker 5: President Trump's global tariff strategy.

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Speaker 2: Nathan China is calling on all sides of the Iron

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Speaker 2: War to ensure the safe passage of ships through the

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Speaker 2: straight of Horror Moves.

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Speaker 4: It's the most direct call to date.

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Speaker 2: From the Islamic Republic's top economic partner for continued trade

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Speaker 2: through the waterway.

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Speaker 4: Begin more with Bloomberg's Will Kennedy.

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Speaker 7: So it's not just vital to the West, It's not

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Speaker 7: just vital to the United States. The straight ofform moves

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Speaker 7: is very vital to the whole global economy and especially

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Speaker 7: the Asian economy. So China, which is historically closer to

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Speaker 7: have on, will almost certainly be putting that pressure on

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Speaker 7: and it may make itvon think about exactly what it

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Speaker 7: wants to do in regards to the straightform moves. Notably,

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Speaker 7: you know, in some of their communications about this, they've

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Speaker 7: put the emphasis on US ships transiting the straightform moos,

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Speaker 7: and they advertimes make clear that the straits aren't in

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Speaker 7: fact closed. But the bigger issue is that ships are

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Speaker 7: unwilling to transit the strait at the moment because they

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Speaker 7: think it is just too dangerous, and.

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Speaker 2: That's Bloomberg's well, Kennedy, and we are continuing to see

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Speaker 2: big moves in the energy markets right now. Naimex scrude

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Speaker 2: oil is up five point eight percent, is seventy five

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Speaker 2: dollars thirty five cents a barrel, while Brent is it

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Speaker 2: eighty two dollars eighteen cents, and European natural gas prices

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Speaker 2: surged as much as thirty four percent this.

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Speaker 5: Morning with Karen, some big names in finance and investing

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Speaker 5: or giving market context to the war in Iran. JP

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Speaker 5: Morgan Chase CEO Jamie Diamond says there's more inflation risk

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Speaker 5: than people think in An interview with Bloomberg's Lisa Abramowitz,

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Speaker 5: Diamond said the wild card is the crisis in the

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Speaker 5: Middle East.

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Speaker 4: This war with Iran, you.

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Speaker 3: Know, is short and oil goes to eighty or ninety

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Speaker 3: or one hundred.

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Speaker 4: But it is a short time not prolonged. It probably

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Speaker 4: would have a major effect.

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Speaker 5: If it becomes prolonged, then the old bets walk to

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Speaker 5: table and you can hear more from our interview with

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Speaker 5: JP Morgan Chase CEO Jamie Diamond on our new hub

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Speaker 5: for live streaming news and interviews, all our Bloomberg TV shows,

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Speaker 5: documentaries and more, all in one place. Bloomberg dot Com

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Speaker 5: Forward Slash Videos.

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Speaker 2: Nathan oak Tree Capital Management co founder Howard Mark says

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Speaker 2: investors need to avoid letting their emotions run high when

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Speaker 2: making decisions on exposure due to the Middle East conflict.

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Speaker 2: He told the Australian Financial Review Business Summit that the

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Speaker 2: main thing to keep in mind is how much we

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Speaker 2: don't know about the conflicts, duration, size, and outcome. This morning,

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Speaker 2: US Dock Index futures they are sharply lower. Nasday futures

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Speaker 2: are leading the declines. They're down two and a quarter

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Speaker 2: percent yesterday after falling more than one percent. During the session,

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Speaker 2: stocks staged a comeback to eke out.

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Speaker 5: Gains' tring to politics at home now, Karen Is. Several

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Speaker 5: incumbents in Texas are at risk of losing their jobs

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Speaker 5: in the first congressional primary voting of the twenty twenty

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Speaker 5: six election. Bloomberg Zamy Morris reports from Washington.

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Speaker 8: On the House side, Representatives Tony Gonzales and Dan Crenshaw

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Speaker 8: are vulnerable because of personal scandal and they've antagonized some Republicans,

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Speaker 8: but after Republican legislators redrew congressional lines in Texas, Democrats

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Speaker 8: Al Green and Julie Johnson are also at risk of

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Speaker 8: losing their seats. But in the Senate, Republican John Cornyn,

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Speaker 8: who has two decades in the Senate, faces a challenge

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Speaker 8: from Texas Attorney General Ken Paxton, who brings with them

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Speaker 8: legal and personal cons controversies. Cornyn telling the Washington Post

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Speaker 8: that he cannot in good conscience turn the job over

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Speaker 8: to somebody as corrupt as Paxton. In Washington, Amy Moore

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Speaker 8: as Bloomberg Radio.

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Speaker 2: All right, Amy, thank you now to the latest on

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Speaker 2: the Jeffrey Epstein's scandal. Former President Bill Clinton told the

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Speaker 2: House Pennell that his former Treasury Secretary, Larry Summers, introduced

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Speaker 2: him to the disgraced financier after he left office. The

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Speaker 2: House Overside Committee released video of the former president's deposition yesterday.

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Speaker 9: Did you ever have any sexual contact with young women

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Speaker 9: or girls in the presence of Epstein or Maxwell?

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Speaker 4: No?

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Speaker 9: Did you ever have sexual contact with any young woman

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Speaker 9: or girl introduced to you by Epstein or Maxwell?

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Speaker 2: Both former President Bill Clinton and his wife, former Secretary

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Speaker 2: of State Hillary Clinton, denied knowledge of Epstein's crimes during

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Speaker 2: their sworn testimony.

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Speaker 4: Las Friday's deposition.

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Speaker 2: Was the first time a former president has been forced

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Speaker 2: to testify before Congress.

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Speaker 5: And as we've just seen this past weekend, Karen Markets

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Speaker 5: may close on Fridays, but the world does not. That

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Speaker 5: is why we are bringing you a new live radio

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Speaker 5: and TV show, Bloomberg This Weekend, looks beyond the daily

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Speaker 5: headlines to the bigger themes striving politics, business, and culture.

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Speaker 5: Joined David Gura, Christina Raffini, and Lisa Matteo for smart

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Speaker 5: conversations and in depth interviews that help make sense of

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Speaker 5: the week that's been and what comes next. Get Bloomberg

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Speaker 5: this Weekend Live Saturdays, and Sundays from seven am Eastern

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Speaker 5: on Bloomberg Radio, Bloomberg Television, and the Bloomberg Business app.

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Speaker 2: It is time now for a look at some of

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

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

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Speaker 4: Michael, Good Morning, Good morning Karen.

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Speaker 10: There are differing views from protesters about the US going

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Speaker 10: to war with the Ron. Protesters gathered in New York

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Speaker 10: City's Columbus Circles speaking out against the US and Israelly

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Speaker 10: strikes on Iran.

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Speaker 5: So we know Trump doesn't care what we think.

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Speaker 4: We know that he does not.

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Speaker 11: Have the wellbeing of the American people in his mind

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Speaker 11: right now. He has the pockets of his rich billionaire

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Speaker 11: friends at the forefront.

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Speaker 10: Meanwhile, an encounter demonstration, many Iranian Americans, while concerned about

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Speaker 10: their homeland being bombed, say they are happy to see

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Speaker 10: their oppressive ruler Ayatola Kameni is no more.

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Speaker 1: When an entire country of people is begging to be bombed,

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Speaker 1: you know that there's something wrong.

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Speaker 10: Audio courtesy of ABC seven. Many in this demonstration came

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Speaker 10: out to thank President Trump for getting rid of Kamani.

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Speaker 10: Today Show hosts. Savannah Guthrie and her sister returned to

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Speaker 10: their mother's home outside Tucson, in their first sighting at

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Speaker 10: the house since Nancy Guthrie went missing about a month ago.

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Speaker 10: The NBC anchor, her sister and brother in law walked

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Speaker 10: arm in arm down the driveway and laid yellow flowers

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Speaker 10: in a makeshift tribute to the eighty four year old

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Speaker 10: at their edge of the street. Authorities believe she was abducted.

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Speaker 10: The Reverend Jesse Jackson returned to his home state of

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Speaker 10: South Carolina one more time Monday to lie in state

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Speaker 10: inside the South Carolina Capital. Jackson died last month at

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Speaker 10: age eighty four. His close friend, Representative James Clyburn of

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Speaker 10: South Carolina, spoke inside the Capitol in Columbia. Because of

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Speaker 10: his efforts, I'm able to sit where us at today,

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Speaker 10: I can remember those battles. After South Carolina, Jackson will

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Speaker 10: be returned to Chicago for our large celebration of life

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Speaker 10: gathering at Omega Church and the final homecoming services at

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Speaker 10: the Rainbow Push Headquarters. Global News twenty four hours a

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Speaker 10: day and whenever you want it with the Bloomberg News

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Speaker 10: Now Michael Barr and this is Bloomberg.

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Speaker 4: Karen, thanks Michael.

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Speaker 2: Time now for our Bloomberg Sports update, and for that

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Speaker 2: we bring in John stash hour Ns.

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Speaker 3: Darren Duke is right at number one in college basketball.

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Speaker 3: Blue Devils have been winning their games easily. That was

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Speaker 3: the kese last night at North Carolina State ninety three

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Speaker 3: to sixty four. Second ranked Arizona beat sixth th rank

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Speaker 3: Diowa State seventy three fifty seven. NFL free agency comes

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Speaker 3: next week. Beforehand, Detroit traded running back David Montgomery to Houston.

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Speaker 3: Washington released cornerback Marshawn Lattimore. Kansas City did likewise with

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Speaker 3: starting tackle Jawan Taylor. That's your Bloomberg Sports update.

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Speaker 4: Stay with us.

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Speaker 2: More from Bloomberg day Break coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Serious Exam

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business Album. This is Bloomberg Daybreak.

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Speaker 7: Good morning.

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Speaker 5: I'm Nathan Hager. Whatever it takes. That is the promise

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Speaker 5: from President Trump as the US Israeli war with Iran

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Speaker 5: enters a fourth day.

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Speaker 1: We have the strongest and most powerful, by far military

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Speaker 1: in the world, and we will easily prevail.

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Speaker 5: That was President Trump in his first public comment on

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Speaker 5: the war from the White House. For the very latest,

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Speaker 5: we are joined by Bloomberg Middle East corresponded Jumana Bursechi,

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Speaker 5: the host of Bloomberg Horizons on Bloomberg Television, and Jumana

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Speaker 5: just looking at the headlines this morning, it doesn't seem

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Speaker 5: like there is any let up in the Middle East.

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Speaker 5: Good morning.

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Speaker 11: No, no, there absolutely isn't. And just in the last

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Speaker 11: half an hour ago we're hearing of further sirens going

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Speaker 11: off and Behinan. It appears as though more US assets,

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Speaker 11: US bases have been targeted. And this is adding to

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Speaker 11: the energy infrastructure sites that were hit yesterday which caused

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Speaker 11: global ramifications as you know on energy markets, with that

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Speaker 11: key LNG facility and kut are being halted for disruption.

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Speaker 11: As we understand, it's still closed for production and this

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Speaker 11: accounts for about twenty percent of the world's ellen G needs,

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Speaker 11: so substantial impact there. And that refining facility in a

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Speaker 11: Roundcos still closed. And this morning we walked in to

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Speaker 11: news that the US embassy in Riod had also been

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Speaker 11: targeted as well. The Arabian the Saudi Arabian Minister of

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Speaker 11: Finance just put out a statement of minutes ago contemning

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Speaker 11: the attack and then also adding a line at the

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Speaker 11: end saying they repeat that they have the right to

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Speaker 11: self defense and if deemed necessary, also have the right

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Speaker 11: to respond as well. So the language and the response

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Speaker 11: coming out of these Gulf states is also intensifying in

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Speaker 11: nature as these attacks continue.

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Speaker 5: We've spoken before about the risk of the wider Middle

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Speaker 5: East being drawn into this conflict that's led at this

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Speaker 5: point by the US and Israel. What is the sense

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Speaker 5: at this point about whether this could escalate even further.

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Speaker 11: Well, if you listen to what the President said yesterday,

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Speaker 11: President Trump, he seemed to imply that this was not

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Speaker 11: going to be wrapped up in a matter of days,

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Speaker 11: that rather, it could actually continue for weeks. The Secuy

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Speaker 11: of State Marcarubio also suggesting that the intensity of their

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Speaker 11: actions could be amplified in the coming days as well,

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Speaker 11: and the Israeli CID are also saying the same thing.

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Speaker 11: Israeli Prime Minister also that he expects the operations to

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Speaker 11: intensify in the coming days. This morning we heard of

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Speaker 11: the US taking out or specifically targeting a command center,

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Speaker 11: control and command center for the Revolutionary Guard In a

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Speaker 11: short while ago, the IDEAF said that they had targeted

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Speaker 11: the presidential headquarters of Iran. So we still don't know

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Speaker 11: whether there were any casualties or what happened there, but

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Speaker 11: the presidential headquarters was a target this morning, in addition

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Speaker 11: to ongoing strikes on military infrastructure, on Iran's missile launchers,

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Speaker 11: and indeed, as we understand, on some of those clear

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Speaker 11: nuclear sites, with the IEA confirming that there was a

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Speaker 11: bit of damage sustained at the Natant nuclear site too.

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Speaker 5: With these attacks targeting apparently command and control centers as

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Speaker 5: well as leadership facilities in Tehran, where is the off ramp?

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Speaker 5: We had heard that the United Arab Emirates and Qatar

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Speaker 5: were lobbying allies to help President Trump find an off ramp.

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Speaker 5: What could that look like at this point?

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Speaker 2: Yeah.

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Speaker 11: Indeed, according to our reporting, there was a suggestion that

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Speaker 11: the UAE and Katar had been speaking to their counterparts

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Speaker 11: in Europe and the US as well to potentially look

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Speaker 11: for some sort of diplomatic channel out of this this

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Speaker 11: as the costs continued to mount for these Gulf states.

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Speaker 11: I mean, you know, nobody had anticipated I don't think

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Speaker 11: any of the leaders had anticipated a couple of days

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Speaker 11: ago that the attacks specifically on energy infrastructure civilian infrastructure

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Speaker 11: would be as frequent and as damaging as they have

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Speaker 11: me and so there is concern that this could really

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Speaker 11: spiral out of control. But at the same time, the

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Speaker 11: comments that have come through even from the Iranian side.

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Speaker 11: Yesterday we were talking about the chief commander of this

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Speaker 11: National Supreme Council, Ali Larijani, who effectively is kind of

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Speaker 11: running the show behind the scenes now because he makes

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Speaker 11: a lot of the military and intelligence decisions. He said

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Speaker 11: that negotiations with the US are not on the t

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Speaker 11: so perhaps the best bet of an off raum is

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Speaker 11: this continued mediation effect mediation impact that what might come

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Speaker 11: through from the Gulf states who would look to seek

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Speaker 11: an end to the conflict. But at the same time,

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Speaker 11: there's also a feeling in the region that Iran has

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Speaker 11: gone one step too far in terms of the amount

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Speaker 11: of damage it has leveled at the Gulf countries.

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