WEBVTT - Vance to Lead Iran Talks; Trump Rebukes NATO After Rutte Meeting

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today, Karen.

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<v Speaker 3>The ceasefire between the US and Iran appears fragile this morning,

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<v Speaker 3>even as the US looks ahead to talks this weekend.

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<v Speaker 3>The White House says Vice President JD Vance will lead

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<v Speaker 3>a delegation to Pakistan on Saturday along with Envoys Steve

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<v Speaker 3>Whitcoff and Jared Kushner. Vance says President Trump's terms are clear.

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<v Speaker 4>The deal is a ceasefire, a negotiation. That's what we

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<v Speaker 4>give and what they give is the straits are going

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<v Speaker 4>to be reopened. If we don't see that happening, the

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<v Speaker 4>President is not going to abide by our terms if

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<v Speaker 4>the Uranians are not abiding by their term.

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<v Speaker 3>Vice President JD. Vance spoke to reporters in Hungary. Bloomberg's

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<v Speaker 3>Patrick Sikes reports the terms of the negotiation are in dispute.

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<v Speaker 5>Iran has this ten point plan that it talks about

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<v Speaker 5>being the basis of negotiations. It says that the US

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<v Speaker 5>is accepted that as a basis for talks. The US

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<v Speaker 5>talks about its own fifteen point plan, so it does

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<v Speaker 5>seem we are still some way apart, even on the

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<v Speaker 5>very broad contours of what is up for discussion this weekend.

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<v Speaker 3>That's Bloomberg's Patrick Sikes reporting from Istanbul. President Trump says

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<v Speaker 3>the US military will remain around Iran until the quote

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<v Speaker 3>real agreement is fully complied with. If not, he says

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<v Speaker 3>in a social media post, the real shooting starts. Iran's

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<v Speaker 3>ambassador to Pakistan post it on x that a delegation

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<v Speaker 3>would arrive in Islamabad for this weekend's talks tonight. That

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<v Speaker 3>post has since been deleted without explanation.

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<v Speaker 2>Well Nathan, Iranian officials say israel strikes in Lebanon yesterday

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<v Speaker 2>violated the terms of the ceasefire agreement Israel launched. It's

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<v Speaker 2>the largest assault yesterday on Lebanon since the start of

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<v Speaker 2>its invasion. Again, more from Bloomberg. Israeli Bureau Chief Ethan

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<v Speaker 2>Brauner in Tel Aviv.

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<v Speaker 6>Everyone has understood that when the US says the war

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<v Speaker 6>has to come to an end and Iran, Israel will agree.

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<v Speaker 6>Israel is insisting on more independence in terms of what

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<v Speaker 6>it does in Lebanon, and generally the US has allowed

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<v Speaker 6>it to do that. But Vance's statement suggests that they've

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<v Speaker 6>said to the Israelis, do us a favor. Here we're

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<v Speaker 6>in the middle of this negotiation, because what the Israelis

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<v Speaker 6>did yesterday was their biggest single moment operation since the

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<v Speaker 6>page Or thing two years ago. One hundred planes dropped

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<v Speaker 6>on targets simultaneously over a period of one to five

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<v Speaker 6>minutes something like that, and killed what they said was

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<v Speaker 6>hundreds of kihuzbela operative.

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<v Speaker 2>And Bloomberg Israeli Bureau chief Ethan Rauner, Lebanon's Health Ministry

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<v Speaker 2>said at least one hundred and eighty two people were

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<v Speaker 2>killed and hundreds wounded in the operation.

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<v Speaker 3>Karen, President Trump is lashing out at NATO's stance on

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<v Speaker 3>the Iran war following a meeting at the White House

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<v Speaker 3>with the Alliance's Secretary General Mark Ruta. Here is route

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<v Speaker 3>after that meeting with the President.

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<v Speaker 7>Well, let me be absolutely clear, is really disappointed and

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<v Speaker 7>with many nature allies, and I can see his points.

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<v Speaker 7>But at the same time I was also able to

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<v Speaker 7>appointed to the fact that the large majority of European

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<v Speaker 7>nations has been helpful with basing, with logistics, with overflights,

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<v Speaker 7>with making sure that they lift up to the commitments.

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<v Speaker 3>NATO Secretary General Mark Rota made those comments on CNN.

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<v Speaker 3>A senior NATO official says the US wants specific commitments

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<v Speaker 3>from European allies on their pledge to help secure the

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<v Speaker 3>Strait of horm moves after the fighting in Iran stops.

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<v Speaker 3>Wants the countries to present concrete plans to ensure navigation

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<v Speaker 3>through the waterway within days.

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<v Speaker 2>Nathan FBI director Cash battels As, a former employee of

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<v Speaker 2>the US military, has been arrested for leaking classified information

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<v Speaker 2>to the media. It comes two days after President Trump

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<v Speaker 2>threatened criminal charges for journalists who published details of a

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<v Speaker 2>military operation to rescue two US airmen in Iran.

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<v Speaker 3>When we turned out to the markets, Karen oil is

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<v Speaker 3>on the rise once again as the Strait of Hormones

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<v Speaker 3>remains largely blocked. Brent crude is up three point two percent,

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<v Speaker 3>trading a just shy of ninety eight dollars of Barrow

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<v Speaker 3>West Texas Intermediate. It's not too far behind, up three

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<v Speaker 3>point four percent. Yesterday, Brent slumped thirteen percent, its biggest

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<v Speaker 3>one day drop in six years. Ed Morris is senior

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<v Speaker 3>advisor and commodities analyst at heart Tree Partners.

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<v Speaker 8>I think we're going to see even more volatility than

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<v Speaker 8>we've had in the past, and that's been a lot

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<v Speaker 8>of volatility. We don't know what's going to happen in

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<v Speaker 8>the next two months, let alone the next two weeks,

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<v Speaker 8>and no matter what happens in terms of a declaration

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<v Speaker 8>of a ceasefire and an effort to do it, we're

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<v Speaker 8>not going to see ships moving through the strait except

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<v Speaker 8>all those lined up trapped north of the strait of

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<v Speaker 8>hormones that want to get out.

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<v Speaker 3>Hartree Partners Commodities analyst Ed Moore says even once hormus

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<v Speaker 3>transit picks up, it could take weeks or possibly longer

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<v Speaker 3>to return to normal.

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<v Speaker 2>And Nathan stocks are giving up some of yesterday's big gains.

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<v Speaker 2>Right now, SMP futures are down four tenths of up percent. Yesterday,

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<v Speaker 2>all three major indexes gained at least two and a

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<v Speaker 2>half percent. The Dow searched more than thirteen hundred points.

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<v Speaker 2>Pria Misras, a portfolio manager at JP Morgan Asset Management,

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<v Speaker 2>some of.

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<v Speaker 9>That heated rhetoric over the last few days. I fel

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<v Speaker 9>like it was coming to a head, So hopefully there

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<v Speaker 9>is a cease five. I think we're watching headlines like

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<v Speaker 9>everyone is. I mean, there's a lot of questions. I

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<v Speaker 9>think as a sigh of relief, but there's a lot

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<v Speaker 9>of details around who controls the straight of foremost is

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<v Speaker 9>two weeks enough to get some sort of a permanence.

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<v Speaker 2>To this and JP Morgan Asset Management portfolio manager Pria

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<v Speaker 2>Misra notes the S and P five hundred broke above

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<v Speaker 2>its two hundred day and fifty day moving averages yesterday.

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<v Speaker 3>And that rally Karen N's the second biggest one day

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<v Speaker 3>gain ever for the world's richest people. In fact, the

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<v Speaker 3>five hundred wealthiest added two hundred and sixty five billion

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<v Speaker 3>dollar dollars to their collective fortunes as as stock sword.

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<v Speaker 3>The surge comes almost exactly one year after the richest

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<v Speaker 3>gained a record three hundred and four billion dollars in

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<v Speaker 3>the day following President Trump's declaration of a ninety day

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<v Speaker 3>pause on his planned Liberation Day tariffs. Meta CEO Mark

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<v Speaker 3>Zuckerberg was the biggest gainer on Bloomberg's Wealth Index yesterday.

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<v Speaker 3>He added twelve point eight billion dollars to his net

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<v Speaker 3>worth after Meta shares rose six and a half percent.

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<v Speaker 2>Well, Nathan Let's turn to the economy. Now men, it's

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<v Speaker 2>the fedes March meeting showed a growing number of officials

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<v Speaker 2>worried the Iran war could stoke inflation. Most officials worried

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<v Speaker 2>a protracted war could hurt the labor market and warrant

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<v Speaker 2>lower interest rates. At the same time, many policymakers highlighted

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<v Speaker 2>the risk to inflation that might ultimately warrant rate increases.

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<v Speaker 3>Well, today, Karen, Fed officials and investors get a slew

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<v Speaker 3>of economic data. Let's get a preview from Bloomberg's Michael McKee.

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<v Speaker 10>It's a day of important but mostly before the war data.

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<v Speaker 10>The PCE Inflation Index is the Fed's key measure. Both

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<v Speaker 10>headline and core forecast to be little changed, but the

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<v Speaker 10>data are from February, before the war started and energy

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<v Speaker 10>prices skyrocketed. The same caveat holds for consumer spending and incomes.

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<v Speaker 10>Any sign of a gas price led spending slowdown would

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<v Speaker 10>be premature. Although nationwide average pump prices were rising through February,

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<v Speaker 10>the high was only two dollars and ninety eight cents

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<v Speaker 10>on the last day of the month. More current, initial

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<v Speaker 10>jobless claims for last week. Claims have been holding at

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<v Speaker 10>a very low level, suggesting companies aren't shedding workers a

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<v Speaker 10>sign of labor market stability. A surprise move up or

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<v Speaker 10>down would cause a market reaction. Michael McKee, Bloomberg Radio.

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<v Speaker 2>It's time now for a look at some of the

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<v Speaker 2>other stories making news in New York and around the world,

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<v Speaker 2>and for that we're joined by Bloomberg's Michael Barr Michael

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<v Speaker 2>good Morning, Good.

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<v Speaker 11>Morning, Karen. Long Island. Serial killer Rex Kureman entered a

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<v Speaker 11>guilty plea in the Gilgol Beach murders, with the families

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<v Speaker 11>of the victims and the court room and his ex

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<v Speaker 11>wife of twenty seven years and daughter watching Hureman pleaded

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<v Speaker 11>guilty Wednesday to murdering eight women in a nearly two

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<v Speaker 11>decade killing spree starting in nineteen ninety three. Heureman strangled

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<v Speaker 11>as victims who he hired as escorts. Suffolk County District

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<v Speaker 11>Attorney Ray Tierney, we.

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<v Speaker 8>Are honored and thankful for having being able to have

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<v Speaker 8>played a small role in obtaining a small measure of

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<v Speaker 8>justice for these families.

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<v Speaker 11>Da Ray Tierney says he believes there was just a

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<v Speaker 11>point where Heureerman was exhausted and did not want to

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<v Speaker 11>go on defending himself. At least one person is dead

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<v Speaker 11>after a seventh story garage under construction collapsed in Philadelphia Wednesday.

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<v Speaker 11>Emergency crews are searching for survivors in the debris, but

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<v Speaker 11>Fire Commissioner Jeffrey Thompson says the structure remains unstable.

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<v Speaker 12>We have to very carefully and methodically deconstruct this building

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<v Speaker 12>for the safety of the people working on it and

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<v Speaker 12>ultimately for the safety of the first responders who will

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<v Speaker 12>continue to search.

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<v Speaker 11>Commissioner Thompson says the collapse started in a stairwell of

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<v Speaker 11>the structure. The Artemis two crew is heading back to

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<v Speaker 11>Earth after flying behind the Moon. The crew of the

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<v Speaker 11>Orion spacecraft is carrying out some final tests on the

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<v Speaker 11>way home. In a news conference from space pilot Victor

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<v Speaker 11>Glover reflected on the mission.

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<v Speaker 13>We have to get back. There's so much data that

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<v Speaker 13>you've seen already, but all the good stuff is coming

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<v Speaker 13>back with us. There's so many more pictures, so many

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<v Speaker 13>more stories, and gosh, I haven't even begun to process

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<v Speaker 13>what we've been through.

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<v Speaker 11>Artemis two is scheduled to splash down in the Pacific

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<v Speaker 11>Ocean Friday night. Global News twenty four hours a day

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<v Speaker 11>and whenever you want it with Bloomberg News Now, not

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<v Speaker 11>Michael Barrn. This is Bloomberg Hearing.

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<v Speaker 1>Thanks Michael.

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<v Speaker 2>All time now for our Bloomberg Sports Update, and for

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<v Speaker 2>that we bring in John stash Hour.

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<v Speaker 11>Thanks Dawn.

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<v Speaker 14>The Oklahoma City Thunder defending the NBA champions and favorites

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<v Speaker 14>to win again this year. They beat the Clippers in

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<v Speaker 14>LA to clinch the one seed at home court advantage

0:09:58.640 --> 0:10:02.200
<v Speaker 14>throughout the playoffs after sixty eight wins last year, at

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<v Speaker 14>sixty four was still two games to go. That's the

0:10:04.600 --> 0:10:07.440
<v Speaker 14>third most wins of a two year span in NBA history.

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<v Speaker 14>The Master's ninetieth edition Tee's off today at Augusta. Rory

0:10:11.320 --> 0:10:14.880
<v Speaker 14>McElroy's the defending champions Scottie Scheffler won in twenty twenty

0:10:14.880 --> 0:10:18.280
<v Speaker 14>two and twenty four John ramin twenty three. That's a

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<v Speaker 14>Bloomberg Sports Update.

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<v Speaker 10>Stay with us.

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<v Speaker 2>More from Bloomberg Daybreak coming up after this.

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<v Speaker 1>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 3>Good morning, I'm Nathan Hagards. Day two of the two

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<v Speaker 3>week ceasefire between the US and Irana. The situation remains fragile,

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<v Speaker 3>with Taran accusing the US of violating the agreement through

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<v Speaker 3>Israeli attacks on Lebanon, but Vice President Jady Vance says

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<v Speaker 3>it would be dumb, in his words, to let negotiations

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<v Speaker 3>fall apart over that.

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<v Speaker 4>I think the Iranians thought that the ceasefire included Lebanon,

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<v Speaker 4>and it just didn't. We never made that promise, We

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<v Speaker 4>never indicated that was going to be the case.

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<v Speaker 3>That was Vice President jd Van speaking with reporters in

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<v Speaker 3>Hungary ahead of the negotiations. He said to lead in

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<v Speaker 3>Pakistan this weekend, joining us from Tel Aviv. This morning

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<v Speaker 3>is Bloomberg News. Israel Bureau Chief Ethan Bronner, Ethan, good morning.

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<v Speaker 3>What is the possibility that these Israeli attacks on Lebanon

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<v Speaker 3>could derail this truce?

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<v Speaker 6>Good morning, Good morning, Nathan. Look, I think they're an obstacle,

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<v Speaker 6>but I would be surprised if they derailed the truth.

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<v Speaker 6>I think that the core issue here is the straighter

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<v Speaker 6>for moves, the global movement of oil, and you know,

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<v Speaker 6>these larger golf issues, rather than what to some extent

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<v Speaker 6>has been a side show in Lebanon and his flaw,

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<v Speaker 6>So you know, it's something that's going to be on

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<v Speaker 6>the table, but I don't think it's going to be

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<v Speaker 6>the thing that will cause the problem.

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<v Speaker 3>And in the meantime, the attack we saw yesterday by

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<v Speaker 3>Israel on Hesba of targets in Lebanon was pretty significant

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<v Speaker 3>to say the very least. What does it mean for

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<v Speaker 3>Hezbola's potential going forward?

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<v Speaker 6>Yeah, what happened yesterday, I mean it was some massive

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<v Speaker 6>affair of like a hundred planes attacking within ten minutes

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<v Speaker 6>different spots. The Defense Minister here and the Prime Minister

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<v Speaker 6>both compared it to the attack that Israel carried out

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<v Speaker 6>on his Bola a couple of years ago using those

0:12:30.679 --> 0:12:35.280
<v Speaker 6>rigged cagers which wounded thousands of people. The idea being

0:12:35.320 --> 0:12:39.320
<v Speaker 6>that this was a major intelligence coop. For what Israel

0:12:39.360 --> 0:12:42.679
<v Speaker 6>did yesterday, we don't have a lot of details, but

0:12:43.480 --> 0:12:46.000
<v Speaker 6>they're claiming to have gotten a lot of important his

0:12:46.120 --> 0:12:50.160
<v Speaker 6>Bola people at that time yesterday. So if they did,

0:12:50.520 --> 0:12:52.240
<v Speaker 6>that will of course play a role. But as we've

0:12:52.280 --> 0:12:55.600
<v Speaker 6>seen with Amas with his Bela and indeed with Iran

0:12:56.360 --> 0:13:00.200
<v Speaker 6>eliminating a whole row of people at the top of

0:13:00.240 --> 0:13:05.319
<v Speaker 6>these organizations and countries don't necessarily doesn't necessarily and the

0:13:05.400 --> 0:13:07.960
<v Speaker 6>place their ability to keep act functioning.

0:13:08.000 --> 0:13:11.040
<v Speaker 3>You know, is there a concern in Israel that this

0:13:11.080 --> 0:13:14.040
<v Speaker 3>could lead to a direct Iranian response against Israel.

0:13:15.200 --> 0:13:18.360
<v Speaker 6>There is a concern. I will say that the Home

0:13:18.400 --> 0:13:21.120
<v Speaker 6>Command has told people that they can go back to

0:13:21.200 --> 0:13:24.160
<v Speaker 6>acting more or less normally. School is due to begin,

0:13:24.960 --> 0:13:30.320
<v Speaker 6>the airport has vastly increased its traffic. So while there

0:13:30.360 --> 0:13:33.480
<v Speaker 6>is concern, I would say that the official view is

0:13:33.520 --> 0:13:36.199
<v Speaker 6>that it will not. There have been a few Hisbola

0:13:36.600 --> 0:13:40.080
<v Speaker 6>rocket and missile attacks in the last twelve hours or so,

0:13:40.200 --> 0:13:45.240
<v Speaker 6>but relatively minor, and in the north nothing from Iran.

0:13:46.000 --> 0:13:48.960
<v Speaker 3>In our last thirty seconds. With so much focus on

0:13:49.040 --> 0:13:52.400
<v Speaker 3>the Strait of Horrormus, what is the situation there right now?

0:13:53.880 --> 0:13:56.719
<v Speaker 6>Yeah, the situation seems to be that it's still basically

0:13:56.760 --> 0:13:59.840
<v Speaker 6>blocked by Iran. They stay've handed out a map telling

0:14:00.080 --> 0:14:02.920
<v Speaker 6>people how they could do it. There's some lack of

0:14:03.000 --> 0:14:06.360
<v Speaker 6>clarity about whether they're going to continue to collect fees

0:14:06.600 --> 0:14:10.040
<v Speaker 6>in cooperation with the US. All of that to be negotiated,

0:14:10.440 --> 0:14:15.640
<v Speaker 6>a huge, huge mess for oil and global economic issues.

0:14:15.720 --> 0:14:20.720
<v Speaker 2>Unquestionably, this is Bloomberg Daybreak, your morning podcast on the

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