Episode summary
Iran Says Ceasefire Violated, Trump Lashes Out at NATO | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 15 min · Guests: JD Vance, Mark Rutte, Mohammad-Bagher Ghalibaf
Summary
The ceasefire between the US and Iran remained fragile as both sides accused each other of violating it, while Washington prepared for weekend talks in Pakistan led by Vice President JD Vance. The central dispute is whether the agreement covers Lebanon: Vance said the US never promised a halt to fighting there, while Iranian officials argued Israeli strikes on Hezbollah targets and an overnight drone strike inside Iran breached the truce. Bloomberg’s Israel bureau chief said the bigger issue is the Strait of Hormuz and the flow of oil, not Lebanon, and that the ceasefire is unlikely to collapse over the Hezbollah front.
Markets continued to react to the uncertainty. Brent crude rebounded toward $98 a barrel after a sharp swing the day before, and analysts said shipping through the Strait of Hormuz could remain disrupted for weeks. Stocks gave back some of the previous day’s gains, even as the S&P 500 moved above its 50-day and 200-day moving averages. Fed meeting minutes showed officials worried the war could stoke inflation, even as some saw weaker growth and labor-market risks as a reason for easier policy.
The program also covered Trump’s criticism of NATO after meeting Mark Rutte, a major Guilggo Beach guilty plea by Rex Huerman, and other breaking news.
Key takeaways
- The host said the US and Iran are still far apart on whether the ceasefire includes Lebanon, with JD Vance rejecting that interpretation.
- Bloomberg’s Patrick Sykes said Iran and the US are negotiating from different frameworks, with Tehran citing a 10-point plan and Washington a 15-point plan.
- Ed Morris said even after a ceasefire, ships may not move normally through the Strait of Hormuz for weeks, adding to oil-market volatility.
- Priya Misra said the S&P 500’s break above its 50-day and 200-day moving averages reflects a relief rally, but she still sees many unanswered questions.
- Fed minutes showed officials were split between inflation risks from the war and labor-market weakness that could justify lower rates.
Notable quotes
“The deal is a ceasefire, a negotiation. That's what we give and what they give is that straits are going to be reopened”
“We never made that promise. We never indicated that was going to be the case”
“we are still some way apart even on the the very broad contours of what is up for discussion uh this weekend”
“we're not going to see ships moving through the straight except all those lined up trapped north of the straight of Hormuz that want to get out”
“The real shooting starts”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager. — And I'm Karen Moscow. Here are the stories we're following today.
Karen, the ceasefire between the US and Iran appears fragile this morning, even as the US looks ahead to talks this weekend. The White House says Vice President JD Vance will lead a delegation to Pakistan on Saturday along with envoy Steve Witco and Jared Kushner. Vance says President Trump's terms are clear.
The deal is a ceasefire, a negotiation. That's what we give and what they give is that straits are going to be reopened. If we don't see that happening, the president is not going to abide by our terms if the Iranians are not abiding by their terms.
Vice President JD Vance spoke to reporters in Hungary. Bloomberg's Patrick Sykes reports the terms of the negotiation are in dispute.
Iran has this 10-point plan that it talks about being the basis for negotiations. It says that the US has accepted that as a as a basis for talks. The US talks about its own 15point uh plan.
So it does seem uh we are still some way apart even on the the very broad contours of what is up for discussion uh this weekend. That's Bloomberg's Patrick Sykes reporting from Istanbul. President Trump says the US military will remain around Iran until the quote real agreement is fully complied with.
If not, he says in a social media post, "The real shooting starts. Iran's ambassador to Pakistan posted on X that a delegation would arrive in Islamabad for this weekend's talks tonight. That post has since been deleted without explanation.
Well, Nathan, Iranian officials say Israel's strikes in Lebanon yesterday violated the terms of the ceasefire agreement. Israel launched its largest assault yesterday on Lebanon since the start of its invasion.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran ceasefire
- nato trump tensions
- persian gulf shipping
- fed rates inflation risk
- strait of hormuz
Companies and tickers mentioned
- DJT
- Trump Media & Technology Group
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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