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

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

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

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Speaker 3: Karen, we begin with the latest developments in the Middle East.

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Speaker 3: Bloomberg News is reporting the President Donald Trump met his

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Speaker 3: national security team in the White House Situation Room for

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Speaker 3: more than an hour yesterday, discussing the escalating conflict between

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Speaker 3: Israel and Iran. The President followed that up with a

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Speaker 3: call to Israel's Prime Minister Benjamin Nettan Yahoo. Before the meeting,

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Speaker 3: the President demanded Iran's unconditional surrender. In a post on

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Speaker 3: social media, Bloomberg's Jumani Versechi says the president also warned

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Speaker 3: of a possible strike against the country's supreme leader, Iatolahamini.

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Speaker 4: It seems at this point that Trump's advisors are still

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Speaker 4: divided on the move. Everyone has been trying to guess

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Speaker 4: what the President's next move is going to be. But

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Speaker 4: you can sort of piece together that he's turning more

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Speaker 4: hawkish because of the posts that he put out over night,

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Speaker 4: calling the Ayatalla an easy target, using the plural we,

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Speaker 4: saying we know where the Ayatola is hiding. We have

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Speaker 4: complete domination of the skies and of Iranian air at

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Speaker 4: this point in time, and so that suggests that he

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Speaker 4: does view that the US are somewhat involved already, but

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Speaker 4: whether they want to take it to the next level,

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Speaker 4: of course, is going to be the major decision.

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Speaker 3: Bloomberg's Jomanivarsaiche says US military assets have already started deploying

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Speaker 3: to the region, including tanker aircraft.

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Speaker 2: Meanwhile, Nathan the New York Times is reporting US commanders

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Speaker 2: have put troops on high alert throughout the Middle East,

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Speaker 2: with Iran preparing its missiles for possible retaliatory strikes on

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Speaker 2: US military interests. Bloomber's Paul Wallace says, although a strike

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Speaker 2: on Iran is on the table, President Trump may also

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Speaker 2: consider diplomatic options.

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Speaker 5: One interesting meeting to watch is that Trump is going

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Speaker 5: to meet the head of the Pakistani military today in Washington.

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Speaker 5: A little and clear exactly what this is about, but Pakistan,

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Speaker 5: in some way or another is acting as a mediator

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Speaker 5: for run and it's possible that Trump has decided to

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Speaker 5: here out what Pakistan is saying and what it will

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Speaker 5: tell the US about Iran's intention.

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Speaker 2: Bloomer's Paul Wallace erports. The US Embassy in Jerusalem has

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Speaker 2: also been closed for the next three days.

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Speaker 3: And in response to all these developments, Karen iran Supreme leader,

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Speaker 3: posted on social media his country will show no mercy

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Speaker 3: toward Israel and in Iranian Foreign Ministry spokes says quote,

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Speaker 3: any American intervention would be a recipe for an all

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Speaker 3: out war in the region.

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Speaker 2: Well, the latest strikes from both sides have ren crew

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Speaker 2: to trading around seventy five dollars a barrel. Nathan and

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Speaker 2: Bloomberg's John Tucker joins us with the latest John, good morning, Karen.

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Speaker 6: Both Brent, which is the international benchmark in West Texas

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Speaker 6: Intermediate closed yesterday at the highest level in almost five months.

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Speaker 6: For Ellen Lee at Cronswai Capital, it's just one more

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Speaker 6: element of risk for investors.

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Speaker 7: Oil prices do really spike, it will actually pressure inflation.

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Speaker 7: So so far things look okay, but you know a

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Speaker 7: lot of uncertainty out there.

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Speaker 6: It RAN's crude exporting infrastructure that's been spared so far,

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Speaker 6: and most of the fallout has been confined to shipping.

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Speaker 6: The Middle East produces about a third of the world's

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Speaker 6: oil and a wider conflict with drying prices even higher now.

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Speaker 6: The biggest concern for the oil market right now centers

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Speaker 6: on the Strait of Hormuz, although there are no signs

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Speaker 6: that tay Ran is seeking to the shop shipping through

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Speaker 6: the narrow waterway at the entrance to the Persian Gulf.

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Speaker 6: About a fifth of the world's crude output passes through

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Speaker 6: the strait, including from Saudi Arabia. The meantime, industry figures

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Speaker 6: show that US crewed supplies they fell by more than

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Speaker 6: ten million barrels last week. That would be the biggest

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Speaker 6: decline since last summer. In New York, I'm John Tucker,

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Speaker 6: Bloomberg Radio.

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Speaker 3: All right, John, thank you. Leaders of the G seven

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Speaker 3: summit in Canada closely followed developments in the Middle East.

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Speaker 3: After President Trump's early departure from the gathering, the focus

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Speaker 3: turned to Ukraine and meetings with President Vladimir Zelenski. Bloomberg's

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Speaker 3: David Gera joins at the details from Banff.

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Speaker 8: Ukraine's President Vladimir Zelenski met with Prime Minister Mark Karney

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Speaker 8: at the start of the day, and Canada announced more

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Speaker 8: financial support for Ukraine in its fight with Russia. Also

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Speaker 8: announced new sanctions on Russia as well. There was cajoling

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Speaker 8: at the dinner among these leaders, and they were able

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Speaker 8: to convince President Trump to support a statement on the

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Speaker 8: Middle East. They were unsuccessful, however, in getting him to

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Speaker 8: sign on to a statement on Ukraine. Friedrich March, the

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Speaker 8: Chancellor of Germany, was cautiously optimistic, as he put it,

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Speaker 8: the Trump will come around and be in favor of

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Speaker 8: applying more sanctions to Russia. David Gura Bloomberg News.

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Speaker 2: All right, David, thank you. And in his closing a

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Speaker 2: news conference, Canadian Prime Minister Mark Harney was asked about

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Speaker 2: President Trump's comments earlier in the week where he suggested

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Speaker 2: that Russian President Vladimir Putin was offended when he was

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Speaker 2: thrown out of what was formally the G eight.

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Speaker 9: With respect to personally, it was personally offensive, as to

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Speaker 9: put it mildly, to the citizens of Ukraine and the

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Speaker 9: inhabitants of Crimea when Russia invaded in twenty fourteen.

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Speaker 2: Canadian Prime Minister Mark Kearney also announced billions in eight

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Speaker 2: for Ukraine and sanctions on Russia.

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Speaker 3: And back in Washington, Karen the Supreme Court is being

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Speaker 3: asked to weigh in on President Trump's economic agenda. Two

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Speaker 3: family owned toy companies are asking the High Court to

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Speaker 3: consider striking down many of the President's tariffs. The companies

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Speaker 3: argue that the massive impact on businesses and consumers requires

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Speaker 3: immediate intervention. Rather than waiting for a federal appeals court

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Speaker 3: to rule, they're seeking a definitive Supreme Court ruling by

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Speaker 3: the end of this year.

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Speaker 2: Turning now to the markets and the Fed and NATHAN,

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Speaker 2: where officials are widely expected to leave interest rates unchanged

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Speaker 2: for a fourth straight meeting today. Bloomber's Michael McKee is

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Speaker 2: a preview of the June decision.

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Speaker 10: The Fed may have to put an expiration date on

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Speaker 10: their decisions Today. With policymakers already conceding no change in

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Speaker 10: interest rates, the focus will be on their latest economic

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Speaker 10: projections and the dot plot guide to what those projections

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Speaker 10: mean for future policy moves. Investors think we'll see a

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Speaker 10: more hawkish tilt, with unemployment and inflation forecasts rising. Both

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Speaker 10: would suggest slower growth. The central bankers are also expected

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Speaker 10: to shave their outlooks for rate cuts this year to

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Speaker 10: one from two, but with tariffs and tax cuts still

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Speaker 10: to be determined, whatever they predict might have to be

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Speaker 10: revised fairly soon. Michael mcke Bloomberg Radio.

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Speaker 2: All right, Michael, thank you. Stay with Bloomberg for full

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Speaker 2: coverage of the fen's decision and j Powell's news conference

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Speaker 2: as on a special edition of Bloomberg Surveillance they're getting

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Speaker 2: at one thirty pm Wall Street time on Bloomberg Radio,

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Speaker 2: Bloomberg Television, and the Bloomberg Podcast page on YouTube.

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Speaker 3: And ahead of that, Karen, The FED and other bank

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Speaker 3: regulators are planning to reduce a key capital buffer known

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Speaker 3: as the Enhanced Supplementary Leverage ratio by up to one

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Speaker 3: and a half percentage points for the biggest lenders. The

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Speaker 3: revisions would bolster bank's roles as intermediaries in the market,

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Speaker 3: but some experts argue the ratio might not encourage banks

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Speaker 3: to buy more treasuries and could make the financial system

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Speaker 3: more fragile.

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Speaker 2: Well in New York, Nathan City Controller Brad Lander was

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Speaker 2: arrested outside of immigration court in Lower Manhattan yesterday. Lander

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Speaker 2: is running in next week's Democratic primary for mayor. He

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Speaker 2: says he locked arms with an undocumented immigrant and an

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Speaker 2: apparent effort to shield the person from detention.

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Speaker 11: All I tried to do was just hold at Gardo's

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Speaker 11: arm and ask the Ice agents, do you have a warrant?

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Speaker 11: And they would not show me the warrant, and I said,

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Speaker 11: I'd let go of his arm as soon as they

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Speaker 11: showed it to me. And they did not show it

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Speaker 11: to me. And you saw what happened. I will say

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Speaker 11: they treated me just fine after that.

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Speaker 2: Sitting alongside New York City Controller and mayoral candidate Brad

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Speaker 2: Lander was New York Governor Kathy Hokeel, who said Lander's

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Speaker 2: arrest marked a sorry day for New York. In the

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Speaker 2: race for New York City mayor, Mike Bloomberg, the founder

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Speaker 2: and majority owner of Bloomberg LP. He has endorsed former

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Speaker 2: New York Governor Andrew Cuomo. Time Now for a look

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Speaker 2: at some of the other stories making news in New

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Speaker 2: York and around the world, and front that we're joined

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Speaker 2: by Bloomberg's Michael Barr.

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Speaker 12: Michael, Good morning, Good morning Karen. In the wake of

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Speaker 12: the Minnesota shootings, lawmakers in DC were given in emergency briefing.

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Speaker 12: Democratic Senator Amy Kloboodshar of Minnesota spoke on the Senate

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Speaker 12: floor remembering state lawmaker Melissa Hortman, who was killed along

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Speaker 12: with her husband.

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Speaker 2: They were great neighbors, wonderful friends and great parents to

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Speaker 2: their beloved children, Sophie and Colin.

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Speaker 12: Reaction continues from top Democrats after President Trump said calling

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Speaker 12: Minnesota Governor Tim Walls following Saturday's deadly shootings would be

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Speaker 12: a quote waste of time. State Attorney General Keith Ellison

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Speaker 12: was one of the lawmakers on the suspect's hit list.

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Speaker 2: He fundamentally doesn't understand what it means to be the

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Speaker 2: president of the United States.

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Speaker 12: Hey g Keith Ellison me and while the bipartisan group

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Speaker 12: of lawmakers called out Utah Senator Mike Lee over his

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Speaker 12: social media post appearing to mock the assassination, Lee writing

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Speaker 12: this is what happens when Marxists don't get their way

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Speaker 12: and saying nightmare on Wall Street, a reference to state's

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Speaker 12: governor Tim Walls. Leah since deleted the post. In Virginia,

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Speaker 12: former state Delegate Jay Jones one tuesdays closely watched Democratic

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Speaker 12: state primary for attorney general. Jones will face Republican Attorney

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Speaker 12: General Jason Miras in the November general election. A dangerous

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Speaker 12: tropical storm is turning near the southern Mexico coastline in

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Speaker 12: the Pacific Bloomberg and neederologist Craig Allen reports Eric is

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Speaker 12: expected to get stronger.

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Speaker 13: The tropical Pacific remains very active, and this storm named

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Speaker 13: Eric is going to rapidly intensify today and become a

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Speaker 13: hurricane with possible wins of one hundred miles per hour

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Speaker 13: or stronger. There will also be life threatening flash flooding

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Speaker 13: as well as mud slides possible in the hillier terrain,

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Speaker 13: dangerous storm surge and rip currents along coastline. Eric is

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Speaker 13: moving northwest towards the southern Mexico coastline and could make

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Speaker 13: landfall tonight or early Thursday.

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Speaker 12: Bloomberg Meetia Religious Craig Allen, And as we've been reporting,

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Speaker 12: New York City Controller and Democratic mayoral candidate Brad Lander

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Speaker 12: was arrested by masked ICE agents at Federal Immigration Court

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Speaker 12: in Lower Manhattan and Foley Square. Protesters gathered in Manhattan

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Speaker 12: after Lander's arrest. New York Governor Kathy Oakles says charges

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Speaker 12: filed against Lander have been dropped. Global News twenty four

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Speaker 12: hours a day and whenever you want it with Bloomberg

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Speaker 12: News Now. I'm Michael Barr, and this is Bloomberg.

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Speaker 2: Karen all right, Michael Barr, thank you time now for

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Speaker 2: the Bloomberg Sports Update, brought to you by Flushing Bank,

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Speaker 2: and here's Dan Schwartzman.

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Speaker 14: Dan, Good morning, Good morning, Karadonna than Flauda. Panthers repeating

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Speaker 14: as Stanley Cup champions, defeating the Oilers in Game six,

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Speaker 14: five to one behind four Sam Reinhart goals to take

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Speaker 14: this year. These four games to two, Panthers are the

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Speaker 14: third NHL team to win back to back championships this century,

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Speaker 14: following the Tampa Bay Lightnings to accomplished the beat in

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Speaker 14: twenty twenty and twenty twenty one. Sam Bennett taken on

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Speaker 14: the CONSMKE Trophies Playoff MVP after scoring fifteen postseason goals.

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Speaker 14: Bennett on what it took to beat the Oilers.

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Speaker 15: Guys were We're willing to do whatever it takes to

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Speaker 15: shut them down, and some guys played some big minutes

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Speaker 15: shutting down some I mean to the best players in

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Speaker 15: the world. And that's that's not an easy job by

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Speaker 15: any means.

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Speaker 14: So Major League Baseball Action Yankees loser fifth straight while

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Speaker 14: being shut out for the third traight game, falling to

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Speaker 14: the Angels and the Bronx four nothing. Yankees scoreless streak

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Speaker 14: extending to twenty nine innings with the Bombers last scoring

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Speaker 14: Saturday against the Red Sox. Elsewhere, Mets losing ten innings

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Speaker 14: to the Braves five to four, Oriols defeat the race

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Speaker 14: five to one. National's fall to the lowly Rockies ten

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Speaker 14: to six. Cubs get pass the Brewers five to three,

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Speaker 14: of the Dodgers outlast to Padres eight to six.

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Speaker 13: Matts.

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Speaker 14: Will be without starter Tyler mc you for at least

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Speaker 14: a month after placing the right hander on the fifteen

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Speaker 14: day injured list with his brain right elbow. Miguel is

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Speaker 14: five and five in the season and fourteen starts with

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Speaker 14: a three point ninety five ERA.

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Speaker 12: Oklahomassippi Thunder looking to finish off the.

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Speaker 14: Indiana Basers Thursday night in Indianapolis to secure the franchise's

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Speaker 14: first NBA championship since moving to OKC. That's your Bloomberg

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Speaker 14: Sports Update. I'm Dan Schwarzman, Karen and Nathan.

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Speaker 1: Coast to Coast on Bloomberg Radio nationwide on Sirius XM,

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

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

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Speaker 3: Good morning. I'm Nathan Hager. President Trump is weighing his options. Now,

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Speaker 3: six days into the fighting between Israel and Iran, his

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Speaker 3: calls for unconditional surrender from the Iranians are fueling speculation

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Speaker 3: that the US could become more directly involved. Wesley Clark

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Speaker 3: is the former NATO Supreme Allied Commander Europe.

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Speaker 16: I think you're going to end up with a regime

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Speaker 16: change out of this, and the question is who's going

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Speaker 16: to take charge and how is it going to work.

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Speaker 16: You sure didn't do a very good job in Iraq

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Speaker 16: in two thousand and three.

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Speaker 3: Retired General Wesley Clark speaking of Bloomberg this morning. We're

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Speaker 3: joined by Bloomberg News Senior editor Bill Ferries and Bill,

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Speaker 3: that really is one of the questions surrounding this as

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Speaker 3: President Trump considers what to do. Is this about regime

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Speaker 3: change or is it about Israel's goal of decimating Iran's

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Speaker 3: nuclear and ballistic missile programs.

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Speaker 17: Good morning, Good morning, Thanks for having me. I mean,

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Speaker 17: it's very hard to separate those two questions you just posed.

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Speaker 11: They made.

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Speaker 17: They're very much wrapped around each other. I mean, Israel

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Speaker 17: has said its goal here is to eliminate the threat,

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Speaker 17: to eliminate Iran's nuclear program. For the long term, and

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Speaker 17: the US President Donald Trump has repeatedly said that Iran

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Speaker 17: cannot be allowed to have a nuclear weapon. Whether that's

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Speaker 17: a possible goal without regime change is really doubtful. At

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Speaker 17: this point, we're in the sixth day of these two countries,

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Speaker 17: Iran and Israel, firing back and forth at each other,

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Speaker 17: and the rhetoric, as you mentioned, is becoming I think

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Speaker 17: even more heated. A lot of questions about where the

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Speaker 17: US stands and what Donald Trump will eventually do. But

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Speaker 17: he did have that meeting in the situation room with

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Speaker 17: his advisors, and he did have a call with Netanyahu afterwards,

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Speaker 17: and posting that statement calling for the unconditional surrender of

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Speaker 17: Iran and saying that the US could even knew, saying

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Speaker 17: that the US knew the whereabouts of Ayatola Kamani, and

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Speaker 17: that he's saying he is quote an easy target, but

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Speaker 17: we are not going to take him out, at least

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Speaker 17: not for now. So very tense situation and Iran coming

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Speaker 17: back and warning that any US action in Israel Israel's

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Speaker 17: offensive risks putting American assets at risk and would result

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Speaker 17: in all out war.

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Speaker 3: And coming out of this meeting, Bill you have to

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Speaker 3: wonder who's got the president's here, because this has to

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Speaker 3: be pitting some of the you know, defense hawks in

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Speaker 3: the GOP with the MAGA wing of President Trump's party.

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Speaker 17: What absolutely is it is really ripping the Trump movement

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Speaker 17: in half right now. I mean you have influential outsiders

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Speaker 17: like Tucker Carlson really pushing back on the idea that

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Speaker 17: the US should be involved, saying, you know, this is

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Speaker 17: Israel's basically saying it's a war of choice by Israel.

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Speaker 17: And then you have people like Senator Lindsey Graham from

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Speaker 17: South Carolina who have long been been hawks on Iran

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Speaker 17: and saying that, you know, this is kind of the opportunity.

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Speaker 17: This is the time i Ron's defensive systems are degraded,

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Speaker 17: a lot of its leadership, military leadership has been taken out.

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Speaker 17: Now is the time for the US to get involved

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Speaker 17: and help use its weaponry to help eliminate this nuclear program.

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

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