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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: The US and Ron have exchanged fresh strikes over the

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Speaker 3: weekend and into this morning. We get more from Bloomberg

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Speaker 3: Middle East correspondent aber abu Omar.

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Speaker 4: Into the weekend, we saw yet again another escalation in

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Speaker 4: the rhetoric between the US and Iran, with the US

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Speaker 4: targeting over one hundred targets early in the weekend and

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Speaker 4: then dozens of targets in Iran. This include some attacks

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Speaker 4: in the eastern provinces of Southern Provinces Bouscheher was attacked

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Speaker 4: in Iran, and so Iran not backing down. We see

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Speaker 4: similar patterns of attacks by the IRGC. It does feel

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Speaker 4: like a little bit of an escalation in the narrative.

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Speaker 4: We're not seeing back to kinetic warfare similar to what

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Speaker 4: we've seen in March. The whole region is dragged into it,

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Speaker 4: but no signs of comfort.

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Speaker 3: This morning, man Bloomberg's a biabo Omar says, shipping through

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Speaker 3: the strait of horror moves is at the heart of

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Speaker 3: the latest escalation. A handful of ships have passed through

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Speaker 3: the Strait in secret in recent days than.

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Speaker 2: The escalation in the Middle East is on the forefront.

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Speaker 2: During the European Foreign ministers meeting in Brussels this morning,

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Speaker 2: Ben Sills is bloomberg Managing editor for European Economics and

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Speaker 2: Government Coverage, they.

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Speaker 5: Are obviously pretty on edge. There's not an awful lot

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Speaker 5: they can do about this. If the US Iranian deal

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Speaker 5: starts to unravel, as it seems to be the case.

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Speaker 5: They're particularly vulnerable to energy prices. Callas has been.

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Speaker 6: Saying that they have offered the eused nucleleet expertise to

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Speaker 6: contribute to any potential negotiations, but seems like they're a

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Speaker 6: way off getting to that sort of technical detail at

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Speaker 6: this point when they're still shooing at each other.

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Speaker 2: Bloomberg's Ben Sills adds that EU officials say there can

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Speaker 2: be no tolls or fees in the Strait of horror moves.

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Speaker 3: Karen reactionally can and used to pour in following the

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Speaker 3: sudden passing of Republican Senator Lindsey Graham of South Carolina.

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Speaker 3: Graham died Saturday, a day after returning to Washington from

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Speaker 3: his tenth trip to Kiev since Russia's full scale invasion

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Speaker 3: of Ukraine. He'd been scheduled to appear on NBC's Meet

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Speaker 3: the Press yesterday. Instead, President Trump phoned in to pay

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Speaker 3: tribute to a man he called like a member of

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Speaker 3: the family.

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Speaker 7: To me.

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Speaker 8: He was such an advocate. He was, you know, if

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Speaker 8: he wanted to get something, and you know, he had

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Speaker 8: a unique ability. He was able to deal with Democrats

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Speaker 8: and reply if I had a problem, a real problem,

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Speaker 8: I wouldn't often ask, but if I had a problem

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Speaker 8: with a Democrat, he could work it out. He was

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Speaker 8: a great He was a great politician.

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Speaker 3: Actually, President Trump has ordered flags lowered to half staff

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Speaker 3: through Saturday night in honor of Senator Graham. His office

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Speaker 3: says he died of aortic dissection or a hardened artery.

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Speaker 3: The tour Republican Senator Lindsay Graham was seventy one years old.

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Speaker 8: Nathan.

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Speaker 2: Senator Graham is being remembered as a staunch interval ist

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Speaker 2: on the world stage and a strong backer of Israel.

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Speaker 2: Begin More on that from Bloomberg News congressional reporter Eric Wawson.

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Speaker 9: He was very much in favor of the bombing of Iran,

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Speaker 9: of trying to replace the regime. There just a very

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Speaker 9: assertive foreign policy voice that's going to leave that faction

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Speaker 9: of the party without a very, very clear champion right now.

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Speaker 2: And Bloomberg's Eric Wawson appeared on Bloomberg This Weekend, heard

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Speaker 2: every Saturday and Sunday morning on Bloomberg Radio and television.

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Speaker 2: Graham was also a strong advocate for Ukraine's defense, and

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Speaker 2: his death could leave Kiev and other US allies looking

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Speaker 2: for new advocates. Several Democratic senators are calling for passing

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Speaker 2: a new Russia sanctions bill as a tribute to Senator.

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Speaker 3: Graham, and Is Washington morns Senator Graham Karen another senior

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Speaker 3: Republican senators looking at clear up speculation.

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Speaker 10: About his health.

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Speaker 3: Former Senate Leader Mitch McConnell has released a statement saying

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Speaker 3: he had a fall last month that landed him in

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Speaker 3: the hospital and during his recovery he developed a mild

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Speaker 3: case of pneumonia. He says he has moved from the

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Speaker 3: hospital to a rehab center, but still is not healthy

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Speaker 3: enough to return to the Senate. McConnell has not been

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Speaker 3: seen in public since June fourteenth, He had faced pressure

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Speaker 3: in recent weeks to provide more details on his health,

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Speaker 3: including from Democratic Kentucky Governor Andy Basheer.

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Speaker 2: Let's turn to the markets now, Nathan, where the latest

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Speaker 2: escalation in the Middle East is weighing on equities and

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Speaker 2: the oil markets. Checking crude right now, West Texas Intermediate

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Speaker 2: up two percent of a dollar forty nine and seventy

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Speaker 2: two dollars ninety cents a barrel. Brent at more than

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Speaker 2: two percent. It's seventy seven dollars seventy cents in Tech

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Speaker 2: leading the way lower this morning. Right now Nasdaq futures,

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Speaker 2: they're down one percent or three hundred five points.

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Speaker 3: In Asia, CAAR and South Korea's AI fueled stock rally

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Speaker 3: has come under pressure once again. Sk Heinex tumbled by

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Speaker 3: a record fifteen percent, underscoring growing investor concerns that the

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Speaker 3: boom and AI had become overstretched. The sell off sent

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Speaker 3: to benchmark COSPI Index down nine percent. Sk heinez has

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Speaker 3: newly listed American depository receipts may be under pressure today

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Speaker 3: after this. They surged thirteen percent in their debut on Friday.

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Speaker 2: Well. Nathan Erninge will also be in focus on Wall

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Speaker 2: Street this week. Five of the sixth largest banks are

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Speaker 2: set to announce quarterly results tomorrow, and we get a

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Speaker 2: preview with Bloomberg's Charlie Pellett.

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Speaker 10: We'll be hearing from JP Morgan, Chase City Group, Wells Fargo,

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Speaker 10: Bank of America, and Goldman Sachs. Ifan deviit is chief

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Speaker 10: global market strategist at Minetta Group.

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Speaker 11: Plating volumes, I expect them to continue to.

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Speaker 1: Be high, but I would like to hear the outlook

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Speaker 1: given this reversal of interest rate expectations to interest rate

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Speaker 1: stay stable or rise?

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Speaker 11: What does that mean to the pianks.

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Speaker 10: For analysts covering banks, it will be an interesting Tuesday morning.

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Speaker 10: While many of the conference calls are staggered, the ones

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Speaker 10: being held by JP Morgan and Bank of America are

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Speaker 10: scheduled to overlap in New York. Charlie Pellett, Bloomberg Radio.

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Speaker 10: All right, Charlie, thank you. It's also a busy week

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Speaker 10: on the economic front. Kevin Walsh makes his first congressional

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Speaker 10: appearance as Chair of the Federal Reserve, and that comes

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Speaker 10: as Wall Street gets a fresh read on inflation. We

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Speaker 10: get more from Bloomberg's Tom Busby.

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Speaker 12: On Tuesday Warsh will testify about monetary policy and interest

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Speaker 12: rates before the House Financial Services Committee and on Wednesday

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Speaker 12: before a Senate committee. Just ahead of that Tuesday hearing,

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Speaker 12: the Bureau of Labor Statistics releases it's June Consumer Price

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Speaker 12: Index ahead of Wednesday's hearing, the June Producer Price Index.

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Speaker 12: Now both reads are expected to show declines thanks to

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Speaker 12: recent drops and gas prices, but CPI is still forecast

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Speaker 12: to come in at three point eight percent, well above

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Speaker 12: the fed's long term target of two percent. The goal

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Speaker 12: for Warsh to convince Congress he's able to reach a

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Speaker 12: consensus with other central bankers on rates ahead of the

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Speaker 12: fed's next policy meeting two weeks from now. Tom Busby

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Speaker 12: Bloomberg Radio.

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Speaker 2: Time Now for look at somebody of their stories making

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Speaker 2: newsday New York and around the world, and for that

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Speaker 2: we're joined by Bloomberg's Michael Barr or Michael good Morning,

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Speaker 2: Good morning Karen.

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Speaker 7: A legionnaire's outbreak on the Upper East Side of New

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Speaker 7: York City's Manhattan has dozens of confirmed cases. As of

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Speaker 7: last night, the city health officials announced that the number

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Speaker 7: of cases is now at fifty nine, with fifteen patients

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Speaker 7: still hospitalized. Health Commissioner doctor Alistair Martin, and.

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Speaker 9: When you catch a case early of Legionnaire's disease, you

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Speaker 9: can actually treat this fairly straightforwardly, and we're seeing that folks,

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Speaker 9: when caught early, are making it through.

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Speaker 7: Doctor Martin noted that people at most risk for contracting

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Speaker 7: the potentially deadly illness are the elderly, immune, compromised, and smokers.

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Speaker 7: Approximately one hundred and eighty building cooling towers where the

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Speaker 7: legionnaire bacteria usually clusters are being tested. Tonight, officials in

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Speaker 7: New York City planned to hold a virtual town hall

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Speaker 7: on the latest outbreak. Venezuela's official death toll from last

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Speaker 7: month's twin earthquakes rose to four hundred and ninety on Sunday.

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Speaker 7: National Assembly President Jorge Brodigas says that is up from

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Speaker 7: more than forty three hundred a day earlier. New legislation

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Speaker 7: in New York State could temporarily put the brakes on

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Speaker 7: new datus your construction. A new omnibus package of legislation

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Speaker 7: is awaiting New York Governor Cofyehlkcalds signature, which would temporarily

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Speaker 7: limit the construction of large data centers known as hyperscalers.

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Speaker 7: State Senator at Kirsten Gonzalez co authored the bills.

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Speaker 1: It acknowledges that we are not in a place where

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Speaker 1: we can build a number of hyper scale data centers

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Speaker 1: across the state and not see negative impacts on our

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Speaker 1: environmental resources, on our energy bills, on our water bills,

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Speaker 1: and more. And so the bill, for some and foremost,

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Speaker 1: implements a one year moratorium on any state permits being

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Speaker 1: issued for the biggest of the biggest data centers.

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Speaker 7: Senator Gonzalez says the bills would also force data center

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Speaker 7: firms who convert ninety percent of their power intake to

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Speaker 7: renewable sources by twenty forty. Global news twenty four hours

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Speaker 7: a day and whenever you want it with Bloomberg News Now.

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Speaker 7: I'm Michael Barr, and this is Bloomberg Heren.

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Speaker 2: Thanks Michael. Time now for our Bloomberg Sports update, and

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Speaker 2: for that we bring in John stash Hour.

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Speaker 7: Thanks Darren.

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Speaker 13: The Wimbledon Men's final had only two service breaks over

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Speaker 13: four sets, both by Jonnick, Senator. He lost the first

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Speaker 13: set to Alex everybody won the next three. It's Center's

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Speaker 13: fifth Grand Slam title is second straight at Wimbledon. They'll

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Speaker 13: play the Baseball All Star Game tomorrow night in Philadelphia

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Speaker 13: and the Phillies. Christopher Sanchez will be the starting pitcher

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Speaker 13: for the National League. Toronto's Dylan Cease for the America League.

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Speaker 13: The Home Run Derby is tonight. The hottest team going

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Speaker 13: to the All Star Break the Red Sox. They beat

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Speaker 13: the Mets. They finished their first nine to zero road

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Speaker 13: tip since nineteen seventy seven. So Bloomberg Sports Update, stay

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Speaker 13: with us.

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

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Speaker 3: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 3: and around the world on Bloomberg dot Com and the

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Speaker 3: Bloomberg Business app.

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Speaker 10: This is Bloomberg Daybreak.

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Speaker 3: Good morning, m Nathan Hager. Crude oil is back on

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Speaker 3: the rise this morning as the US and Iran continue

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Speaker 3: to trade attacks along with conflicting accounts about the status

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Speaker 3: of the Strait of horm moves. US Ambassador to the

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Speaker 3: United Nations Mike Waltz says Iran has repeatedly broken the

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Speaker 3: Innim peace deal.

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Speaker 9: This was a performance based MoU Iran is not living

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Speaker 9: up to it, and all options are on the table.

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Speaker 2: We saw that from our great US military overnight.

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Speaker 3: It was you an ambassador Mike Waltz on ABC's This

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Speaker 3: Week Heard every Sunday on Bloomberg Radio. And joining us

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Speaker 3: this morning is Terry Haines, the founder of Pangaea Policy. Terry,

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Speaker 3: we've seen US Central Command go after a number of

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Speaker 3: targets aimed at degrading Iran's ability to threaten the Strait

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Speaker 3: of Horror moves in Iran responding with attacks on US

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Speaker 3: assets around the Gulf. What's your read on what's happening

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Speaker 3: in the Middle East since the weekend?

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Speaker 11: Good morning, Good morning, Nathan. I would say that the

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Speaker 11: markets are following the through line a lot more than

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Speaker 11: they are the competing explosions, and the through line here

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Speaker 11: is that there's probably positive direction of travel on opening

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Speaker 11: the Strait of Horror moves. You see the United States

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Speaker 11: kind of say enough already on Iran's gaming, and you

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Speaker 11: see Iran being back into a corner which is increasing

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Speaker 11: IRGC desperation. There's been all you know, there's the tensions

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Speaker 11: between conventional civil government and the IRGC have been much

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Speaker 11: in the headlines over the past week, and I think

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Speaker 11: what you see is ultimately kind of the concert of

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Speaker 11: the United States, the Gulf nations, Israel, even China to

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Speaker 11: some extent, all working together to bring Iran back to

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Speaker 11: the table. So there are jitters this morning, justifiably so overall,

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Speaker 11: though I think we're trending in the proper direction.

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Speaker 3: We have to wonder how Senator Graham might have reacted

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Speaker 3: to what's been happening. Of course, he was a strong

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Speaker 3: advocate for going after Iran's nuclear program, carrying out the

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Speaker 3: attacks that were launched on February twenty eight. Give us

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Speaker 3: your thoughts, Terry, on the whole left by Senator Graham

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Speaker 3: and Washington.

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Speaker 11: Two things really, One is you know the and I

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Speaker 11: agree with you that I think Senator Graham would have

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Speaker 11: would have applauded and did applaud the most most recent

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Speaker 11: actions in the streets.

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Speaker 7: You know.

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Speaker 11: The thing is Washington is, you know, always has workhorses

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Speaker 11: and show horses, and the the the relation of of

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Speaker 11: show horses, I think to workhorses is higher than ever

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Speaker 11: and you see, you see that every day and it's

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Speaker 11: been both parties. But Lindsay Graham was a was a

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Speaker 11: workhorse who understood was a serious guy. Understood a lot

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Speaker 11: of things, uh, including how to project power out of

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Speaker 11: the Senate, and uh you know, the peer respect is

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Speaker 11: the respect that matters in Washington, and Graham had that

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Speaker 11: in spades, whether a Republican Democrat or anybody else.

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Speaker 2: Uh.

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Speaker 11: So, you know, this is a serious man who achieved

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Speaker 11: a lot, and it's deservedly mourned. The other thing I

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Speaker 11: would say, though, is that people who think that that

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Speaker 11: hole is not going to be filled, I think are incorrect.

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Speaker 11: Republicans do have a deep and strong foreign policy bench,

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Speaker 11: from Senator Haggerty of Tennessee to Dave McCormick, who's kind

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Speaker 11: of the rising star there, Tom Cotton of Arkansas the stalwart,

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Speaker 11: and a number of veterans including Roger Wicker and Jim Rish.

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Speaker 11: So Graham did not do this all by himself, and

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Speaker 11: I think you will see a remarkable consistency in how

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Speaker 11: the post Graham Republican Party continues to deal with foreign

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Speaker 11: policy matter.

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Speaker 3: Do you think, Terry, any of those potential advocates will

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Speaker 3: have the ear of President Trump in the same way

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Speaker 3: that Senator Graham did. We only have about thirty seconds left.

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Speaker 11: Not exactly in the same way, but they do. Bill

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Speaker 11: Haggerty certainly, former diplomat, among many other things, Dave McCormick,

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Speaker 11: who has a unique background from West Point to military service,

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Speaker 11: to Treasury senior to major financial services posts, and Tom

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Speaker 11: Cotton always has So you know, I think you'll see

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Speaker 11: a variety of people not really vying, but providing complimentary

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Speaker 11: advice to the president in building trust there.

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