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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 sun efforts to end

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Speaker 3: the war with Iran. Both the US and Iran remain

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Speaker 3: far apart on a deal to resolve their conflict and

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Speaker 3: reopen the strait of horror moves, and now President Trump

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Speaker 3: is warning the clock is ticking. He wrote that in

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Speaker 3: a social media post, telling Iran quote, they better get

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Speaker 3: moving fast or there won't be anything left of them.

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Speaker 3: We get more from Bloomberg Middle East. Corresponded Jumana Borsecci.

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Speaker 4: It's a bit of a difference and sentiment from where

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Speaker 4: we were a week ago, and we thought maybe they'd

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Speaker 4: be a diplomatic breakthrough after the Trump. She summits that

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Speaker 4: China would somehow push diplomatically to get through to the

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Speaker 4: Iranian side and get them to make some concessions. It

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Speaker 4: has been the case, and what we've woken up to

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Speaker 4: this morning is more true social threats from President Trump

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Speaker 4: saying that the clock is ticking. He wants the Rani

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Speaker 4: inside to sign up to the peace deal. Iranian media,

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Speaker 4: on their part saying that what the US are asking

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Speaker 4: for is too maximalists, that the US have not made

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Speaker 4: enough concessions and what they're demanding are things that Iran

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Speaker 4: simply cannot concede too.

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Speaker 3: Bloombergs Jumana Barsetti reporting meantime, a drone attack over the

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Speaker 3: weekend sparked a fire at a nuclear plant in the

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Speaker 3: United Arab Emirates. The UAE says it intercepted two other

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Speaker 3: drones launched from west of the country.

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Speaker 2: Nathan Treasury Secretary's John Besson is calling on the G

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Speaker 2: seven nations and others to increase sanctions on Iran. Besson

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Speaker 2: is in Paris for a meeting of finance ministers and

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Speaker 2: central bank governors from the Group of Seven Nations. He's

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Speaker 2: wrapping up an international trip that saw stops in Japan,

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Speaker 2: South Korea, and China.

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Speaker 3: And we're getting more details caring about what came out

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Speaker 3: of President Trump's Beijing summit with Chinese leader Shi Jinping.

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Speaker 3: The White House says China agreed to buy at least

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Speaker 3: seventeen billion dollars of agricultural goods per year through twenty

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Speaker 3: twenty eight and to set up boards of trade and

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Speaker 3: investment with the US. US Trade Representative Jamison discussed the

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Speaker 3: agreements on CBS has faced.

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Speaker 5: The nation Board of Investment is really about discussing key

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Speaker 5: issues in US China investment policy. It's not really an

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Speaker 5: investment program, but it's to try to almost be like

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Speaker 5: a firefighter and put out issues when they arise between

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Speaker 5: the two countries.

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Speaker 3: Get in. US Trade rep Jamison Graer. Bloomberg Steven Angel

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Speaker 3: reports from Beijing that the details on China's AGG purchases

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Speaker 3: still have to be worked out.

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Speaker 6: We do know that China has approved the licensing process

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Speaker 6: for beef to be allowed back into China after a

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Speaker 6: four fourteen month pause. We're hearing corn possibly another big

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Speaker 6: crop is sorghum. Cotton is another one. So we'll have

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Speaker 6: to see where that seventeen billion dollars comes still.

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Speaker 3: Bloomberg Steven Engel reports the commitment brings China's AGG purchases

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Speaker 3: back to where they were in the trade deal during

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Speaker 3: President Trump's first term. He spoke on Bloomberg this weekend,

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Speaker 3: heard seven am Saturdays and Sundays on Bloomberg Radio, Bloomberg Television,

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Speaker 3: and the Bloomberg Business app.

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Speaker 2: Anathan back here at home. Thousands of new Yorkers will

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Speaker 2: have to find another way to get to work this morning,

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Speaker 2: and that's because there's a strike at the nation's largest

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Speaker 2: commuter railroad. We get the latest with Bloombery John Tucker

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Speaker 2: in New York.

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Speaker 7: It's the first weekday of the strike. That is up

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Speaker 7: to three hundred thousand commuters looking for another way to

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Speaker 7: get to work. And it's not just the striking rail

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Speaker 7: workers who are making their voices heard.

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Speaker 3: I pay three.

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Speaker 2: Hundred and ninety four dollars a month. It better be

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Speaker 2: a seamless transaction for me to receive a refund.

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Speaker 7: The Ali Double Arre operates twenty four to seven serves

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Speaker 7: one hundred and twenty six stations across more than three

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Speaker 7: hundred route miles on seven hundred miles of track. Governor

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Speaker 7: Kathy hokel the.

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Speaker 3: Railroad is the lifeblood of Long Island. Without it, life

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Speaker 3: as we know it is simply not possible.

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Speaker 7: The MTA, which runs New York City Subways, bosses and

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Speaker 7: commuter rail lines, is advising people to work from home

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Speaker 7: if possible. Two hundred and seventy five free shuttle buses

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Speaker 7: across six Long Island locations are shuttling essential workers to

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Speaker 7: some stations in Queens. If you have deeper pockets, Bleed

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Speaker 7: is offering ninety five dollars one way helicopter rides for

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Speaker 7: those driving calls to suspend New York's congestion pricing. They

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Speaker 7: went nowhere. With the union seeking a five percent raise

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Speaker 7: this year, The MTA on Friday offered nearly four and

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Speaker 7: a half percent. Negotiations between the unions and the MTA

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Speaker 7: restarted yesterday in New York Time, John Tucker, Bloomberg Radio.

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Speaker 3: John, Thanks, let's turn to politics. Now, attention turns to

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Speaker 3: tomorrow's Kentucky primary. It's after Senator Bill Cassidy was decisively

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Speaker 3: defeated in the Republican primary in Louisiana over the weekend.

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Speaker 3: President Trump campaigned against Cassidy after he voted to convict

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Speaker 3: the president during an impeachment trial over the attack on

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Speaker 3: the Capitol. Now, the President's focused on getting Congressman Thomas

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Speaker 3: Massey booted in Kentucky. Massy spoke on ABC's This Week.

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Speaker 8: I think that's going to help my fundraising at Thomasmassey

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Speaker 8: dot com.

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Speaker 5: Every time he tweets about me, it's good for some

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Speaker 5: money coming in because people.

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Speaker 3: Don't like Kentucky Republican Thomas Massey again on ABC's This

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Speaker 3: Week Heard Sundays on Bloomberg Radio. Massey has angered the

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Speaker 3: President by voting against his signature tax legislation, pushing for

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Speaker 3: the release of the Jeffrey Epstein files, and opposing the

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Speaker 3: President's decision to go to war with Iran.

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Speaker 2: Nathan Tomorrow also brings US primary elections in Alabama, Idaho, Oregon, Pennsylvania,

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Speaker 2: and Georgia. Georgia's primary will provide an early read on

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Speaker 2: key dynamics shaping the twenty twenty six cycle, with both

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Speaker 2: the governor's race and a messy Republican Senate contest in focus,

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Speaker 2: and they're to cover it all. Bloomberg Balance of Power,

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Speaker 2: Joe Matthew and Kayley Lines are live in Atlanta breaking

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Speaker 2: down the races. You can catch them at noon, Wall

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Speaker 2: Street Time on Bloomberg Radio, Bloomberg Television, and the Bloomberg

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Speaker 2: Business app.

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Speaker 3: Turn into Sports Now, Karen, Because history has been made

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Speaker 3: at the PGA Championship. In Bloomberg's John Stash hours here

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Speaker 3: to tell us more, John.

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Speaker 9: Nathan and England. They've been waiting since nineteen nineteen for

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Speaker 9: a PRETI J champion and I unlikely winner sealed his

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Speaker 9: victory on the next to last hole.

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Speaker 3: Here, Aaron Rye has just hit a beautiful bird.

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Speaker 10: About seventeen week chains it from fifty feet.

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Speaker 1: Aaron Rye is unstoppable aeronomics.

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Speaker 3: He is nine hundred parm must get.

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Speaker 9: One of the calls heard here on Bloomberg Radio. Thirty one

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Speaker 9: year old Rye had only won one tournament before, had

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Speaker 9: never finished in the top fifteen of a major. He

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Speaker 9: pulled away on the back nine won by three shots.

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Speaker 9: Well here from Aaron Raie coming up in sports, John Stashaware,

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Speaker 9: Bloomberg Radio.

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Speaker 2: Right, John, thank you. Let's turn to the markets now,

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Speaker 2: and futures are lower this morning. Bonds are off their

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Speaker 2: worst levels of the morning as well. And we're checking

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Speaker 2: US treasuries right now, with the ten year yield four

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Speaker 2: point five nine percent, yield on the two year four

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Speaker 2: point zero seven percent, of the thirty year yeald five

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Speaker 2: point one two percent in Asia, Japan's thirty year yield

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Speaker 2: search of the highest level since nineteen ninety nine. Mark

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Speaker 2: Cranfield covers the markets for Bloomberg.

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Speaker 11: When you have the long end of bond markets behaving badly,

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Speaker 11: it really is one of the US scenarios you can

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Speaker 11: get across asset markets. Central banks control the short end

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Speaker 11: pretty well. They are just interest rate policy, and that

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Speaker 11: has a very big effect on where short term yields go.

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Speaker 11: They have very little control over the long end of

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Speaker 11: bond markets, particularly when bond supply is so huge around

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Speaker 11: the world. Fiscal deficits are increasing in most of them.

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Speaker 11: There doesn't seem to be a great deal of people

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Speaker 11: wanting to get on and reduce those deficits. Are all

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Speaker 11: in fact that it's going. The Iran war has made

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Speaker 11: it worse. It's going the other way. Investors can see that.

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Speaker 2: Bloomber's Mark Cranfield says bond yields are rising not only

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Speaker 2: on oil driven inflation risks, but also do the fears

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Speaker 2: that governments will ramp up borrowing to cushion rising living costs.

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Speaker 3: As the rout continues, Karen Veteran market strategist ed Yard Denny,

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Speaker 3: is warning that the Fed needs to catch up with

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Speaker 3: the bond markets or risk losing control of borrowing costs.

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Speaker 3: Denny says the Central Bank should remove its easing bias

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Speaker 3: at next month's meeting, given that it is, in his words,

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Speaker 3: no longer appropriate in the current market environment. Denny expects

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Speaker 3: the FED to hold rate unchanged at the June meeting

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Speaker 3: and shift to a tightening policy stands.

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Speaker 2: Time now for look at some of the stories making

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Speaker 2: news in New York and around the world, and for

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Speaker 2: that we're joined by Bloombers Michael Barr, Michael good Morning.

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Speaker 12: Good Morning. Karen. Uganda postponed an annual religious holiday usually

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Speaker 12: held on June third, following an outbreak of the ebola

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Speaker 12: virus in neighboring Democratic Republic of Congo. Uganda has confirmed

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Speaker 12: two infections and one death from the outbreak. About three

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Speaker 12: hundred and fifty suspected cases and ninety one deaths have

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Speaker 12: been reported in northeastern Congo. Doctor Jean Casea, Director General

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Speaker 12: of Africa Centers for Disease Control and Prevention, says that

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Speaker 12: Western countries need to make an investment in Africa and

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Speaker 12: vaccines and therapeutics to fight a boler.

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Speaker 8: Western countries de dun't understand that when Africa is affected,

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Speaker 8: they are also at risk because people are flent every

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Speaker 8: day and it means building stone system voting Africa, investing

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Speaker 8: in Africa.

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Speaker 12: Doctor Jean Cassea. The CBC is escalating its response to

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Speaker 12: the abola outbreak after the who labeled it a public

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Speaker 12: health emergency. The cruise ship hit by a hunted virus outbreak,

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Speaker 12: is set to arrive in the Dutch port of Rotterdam

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Speaker 12: later today. The ship has twenty five crew members and

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Speaker 12: two medical staff on board, none showing symptoms. Officials in Austin,

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Speaker 12: Texas say two teenagers are in custody and a third

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Speaker 12: suspect has been arrested after at least ten random shootings

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Speaker 12: that left four people heard over the weekend. At one point,

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Speaker 12: authorities ordered residents of a large part of southern Austin

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Speaker 12: to shelter in place on Sunday while the investigation continued.

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Speaker 12: Austin Mayor Kirk Watson says the shootings appeared to be random.

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Speaker 12: Police Chief Lisa Davia says the shootings occurred Saturday and

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Speaker 12: Sunday morning, including two outside fire stations.

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Speaker 2: A motive, I don't know what a motive is.

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Speaker 5: I don't know what motive would drive anybody to come

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Speaker 5: and drive around censusly in the city and multiple parts

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Speaker 5: of the city shooting.

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Speaker 12: Chief Davis says the suspects apparently we're stealing vehicles as

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Speaker 12: they moved about. Global News twenty four hours a day

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Speaker 12: and whenever you want it with the Bloomberg News Now

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Speaker 12: Michael Barr and this is Bloomberg Heron.

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Speaker 2: All right, Malchaol Barr, thank you time now for the

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Speaker 2: Bloomberg Sports Update. It's brought to you by Flashing Bank

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Speaker 2: and here's John stash Hour, John, good morning.

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Speaker 9: Good morning Karen. The PGA Championship had a very crowded

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Speaker 9: leaderboard until the end when Aaron Rye pulled away. It

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Speaker 9: started with his eagle on the ninth holl that he

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Speaker 9: shot thirty one on the back nine, including a sixty

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Speaker 9: eight foot put on seventeen, finished with a sixty five,

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Speaker 9: never had a round over par nine hundred, was three

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Speaker 9: shots better than John Rahm in the one hundred and

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Speaker 9: eighth PGA rise, the first Englishman to win since the

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Speaker 9: second PGA in nineteen nineteen.

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Speaker 10: There's a lot of incredible and historic English players over

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Speaker 10: those hundred years who've gone on to achieve incredible things

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Speaker 10: and had phenomenal careers. But to win this event and

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Speaker 10: then to be yeah, a person that's the first one

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Speaker 10: to have won in such a long time from England

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Speaker 10: is yeah, is an amazing is an amazing thing.

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Speaker 9: At the start of the tournament, the odds on an

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Speaker 9: Aaron Raye victory was as high as two hundred and

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Speaker 9: ninety to one a week after the next locked up.

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Speaker 9: It's fine on the Eastern Conference Finals. They finally know

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Speaker 9: their opponent, the Cleveland Cavaliers. Nicks went two and one

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Speaker 9: against them in the regular season. They went zero one

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Speaker 9: three versus Detroit, two losses by over thirty points. With

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Speaker 9: the Calves, the Knicks get home court, but they'll play

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Speaker 9: a Cleveland team that looked off for the good last night,

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Speaker 9: blowing out the Pistons in Game seven one twenty five

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Speaker 9: to ninety four, the third largest win ever by a

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Speaker 9: road team in a Game seven. Knicks and Calves start

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Speaker 9: tomorrow at the Guard and the West Finals start tonight

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Speaker 9: San Antonio at Oklahoma City, Okay see Shay Gildess. Alexander

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Speaker 9: will be given his MVP trophy at Cityfield. Stunning finished

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Speaker 9: to the Subway series. The Yankees led five to one,

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Speaker 9: They led six to three with two outs in the

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Speaker 9: bottom of the NYE tire our own Taylor a game

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Speaker 9: time three run home off David Bednar. The Mets won seven,

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Speaker 9: six and ten names. It ends a brutal road trip

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Speaker 9: for the Yankees. They went two and seven are now

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Speaker 9: three games behind Tampa Bay. Red Sox lost it Atlanta

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Speaker 9: eight to one. The Nationals beat the Orioles seven to three.

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Speaker 9: John Stanshedward Bloomberg sports Car.

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Speaker 2: You stay with us. More from Bloomberg Daybreak coming up

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Speaker 2: after this.

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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. The clock is ticking. That

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Speaker 3: is the warning from President Trump to Iran on social media,

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Speaker 3: as both sides remain far apart on a deal to

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Speaker 3: end their nearly three month war. For the latest were

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Speaker 3: joined by Bloomberg Middle East correspondent and Bloomberg Horizons anchor

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Speaker 3: Jumana Bursecci Jaman. Of course, we've heard threats from the

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Speaker 3: President in the past. Is this time different? Good morning?

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Speaker 12: Yeah?

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Speaker 4: Well, I suppose we'll find out in the coming days.

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Speaker 4: But certainly a bit of a contrast with the sentiment

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Speaker 4: we had towards the end of last week. Remember, people

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Speaker 4: were optimistic, hopeful that there might be some form of

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Speaker 4: a breakthrough after that Trump She summit that maybe China

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Speaker 4: could exert some influence on Iran, but that does not

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Speaker 4: appear to be the case, and if anything, the rhetoric

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Speaker 4: has once again deteriorated overnight that the truth social posts

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Speaker 4: that you mentioned, Trump saying that the clock is ticking.

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Speaker 4: He wants to see Iran come to the table sign

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Speaker 4: a piece deal. Iran, for their part, over the weekend,

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Speaker 4: Iranian state media saying that what the US is demanding

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Speaker 4: out of them is too maximalists and that they are

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Speaker 4: not going to surrender or compromise. So we are back

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Speaker 4: to a situation of impasse, and not just on their

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Speaker 4: respective negotiating positions, but of course when it comes to

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Speaker 4: the Straits as well.

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Speaker 3: Well, what do we know, Jumana about the demands that

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Speaker 3: Iran says are too maximalist? What are both sides holding

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Speaker 3: out for at this point?

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Speaker 4: Yeah, so that you know, it comes back to the

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Speaker 4: same issues that we've been talking about for the better

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Speaker 4: part of honestly all of this year. But one of

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Speaker 4: Iran's media news agencies, this is far As News agencies,

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Speaker 4: said that the US had asked for five main conditions

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Speaker 4: for a peace deal, including transferring the highly enriched uranium

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Speaker 4: to the US no war reparations, and unfreezing less than

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Speaker 4: a quarter of Iran's frozen assets. So this has just

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Speaker 4: been cited by the Iranian media, It has not been

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Speaker 4: conferred by the US, to be clear, But equally that

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Speaker 4: sort of tallies up with what we know the US

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Speaker 4: have been putting forwards, and President Trump a couple of

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Speaker 4: times of the past week has suggested that the Iranian

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Speaker 4: response to their proposal has been quote unquote garbage. That

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Speaker 4: he didn't make it through the first paragraph, is what

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Speaker 4: he says. And so once again it comes back to

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Speaker 4: which side is going to blink first, which side is

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Speaker 4: going to make concessions. But President Trump has said over

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Speaker 4: the course of this war that the main goal is

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Speaker 4: to ensure that Iran doesn't go on to develop an

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Speaker 4: nuclear weapon. The question is how they can ensure that

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Speaker 4: that does not happen, what it means for the fate

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Speaker 4: of that highly enriched stockpile, and what it means for

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Speaker 4: all the centrifugias that Iran still have access to.

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Speaker 3: In the meantime, we're hearing reports of drone attacks on

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Speaker 3: a nuclear plant in the United Arab Emirates as well,

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Speaker 3: putting the nuclear issue front and center there. I mean,

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Speaker 3: what does that tell us about where the ceasefire stands

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Speaker 3: right now?

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Speaker 4: Yeah, remarkable and dangerous escalation. Thankfully, no radiation leaks detected

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Speaker 4: this per the IEA, there was a drone attack on

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Speaker 4: the UAE yesterday ABUW and this was targeted at a

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Speaker 4: civilian nuclear power plant. It counts for about twenty five

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Speaker 4: percent of the electricity generation within the UAE. It caused

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Speaker 4: the fire an electricity generator, but no injuries and as

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Speaker 4: I said, no radiological leak. But again, it's just another

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Speaker 4: example of how Iran can cause disruption and potential damage

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Speaker 4: at key infrastructure sites. And by the way, it wasn't

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Speaker 4: just in the UAE. Saudi Arabia this morning also announcing

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Speaker 4: that they had intercepted three drones that were being fired

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Speaker 4: from Iraq actually not Iran. And so this raises the

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Speaker 4: broader question as to who exactly is firing these projectiles

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Speaker 4: towards the UAE and Saudi Arabia. Is it proxies, is

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Speaker 4: it Iran themselves? Does the Iranian military still have control

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Speaker 4: over these actors?

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Speaker 2: You know?

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Speaker 4: Still it opens up a box of worms, and again

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Speaker 4: it's just another reminder that there's still a lot of

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Speaker 4: disruption that Iran could cause.

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

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