Episode summary
Trump Teases End to Iran War; 'Historic' Israel-Lebanon Talks | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · Guests: Janet Yellen, Scott Bessent
Summary
Markets rallied around signs that the US war with Iran could be nearing a wind-down, with President Trump signaling that a second round of peace talks may happen within days and saying the conflict is “very close to over.” The discussion emphasized that the Iranian side has not confirmed any new deal, while reports suggested the US is maintaining a blockade of the Strait of Hormuz and adding military pressure in the region. Bloomberg’s correspondent said Iran may be weighing whether to press for the best possible outcome on nuclear enrichment and sanctions relief rather than escalate further.
The episode also highlighted a separate diplomatic opening: Israel and Lebanon held their first direct high-level talks in more than 30 years, which one Bloomberg editor called “historic,” though he said the results were modest and nothing broke down. On policy and markets, Christine Lagarde said the economic clouds from the Iran shock do not justify leaving the ECB early, while Janet Yellen said she still sees room for a US rate cut later this year, even as higher oil prices cloud the outlook. Scott Bessent said Trump’s tariffs could be back by early July after the Supreme Court setback.
Key takeaways
- Trump signaled the Iran war is near an end and suggested a second round of talks could happen within days, but Iran has not confirmed any breakthrough.
- Bloomberg’s Middle East correspondent said the US is using both a Strait of Hormuz blockade and troop buildup to pressure Iran back to negotiations.
- Israel and Lebanon held their first direct high-level talks since 1993, which Bloomberg described as historic but only a “baby step.”
- Janet Yellen still sees a possible US rate cut later this year, but she said the Iran-driven oil shock clouds the outlook.
- Scott Bessent said Trump’s tariffs could return to prior levels by the beginning of July after the Supreme Court ruling.
Notable quotes
“I view it as very close to over. You know what? If I pulled up stakes right now, it would take them 20 years to rebuild that country”
“These were the first direct talks between Israel and Lebanon since 1993 in more than three decades”
“Rubio called it historic. That's probably a bit too strong at least at this stage”
“the tariffs could be back in place at the previous level by beginning of July”
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, hopes are building that the US could be close to winding down its war with Iran. Both sides are looking to arrange a second round of peace talks before the 2-week ceasefire ends next week.
President Trump told the New York Post it could happen in the next 2 days. He had this to say about the conflict in an interview with Fox Business. I view it as very close to over.
You know what? If I pulled up stakes right now, it would take them 20 years to rebuild that country. And in another interview with ABC News, President Trump predicted the next 2 days will be amazing.
We get more from Bloomberg's Jumana Berseche in Dubai. This is just President Trump himself. And I will also remind everybody that the Iranian side haven't actually confirmed anything.
They haven't said anything. There are no new updates since the Iranian president Pizishkian yesterday said that they were inclined to continue with negotiations so long as it's done within {quote} {unquote} the international framework of law. Bloomberg's Jumana Berseche reports in the meantime, the US is enforcing a blockade of the Strait of Hormuz with a dozen ships aimed at curbing Iran's oil exports.
Iran's semi-official Fars News Agency reports a sanctioned Iranian supertanker broke through the blockade this morning and an Iraq-bound supertanker sailed into the Gulf through the strait on its second attempt this morning, making it the first crude carrier to make the passage since the blockade went into effect. Nathan, while the US and Iran are seeking another round of talks, Israel and Lebanon met for the first time in more than 30 years for a high-level talks in Washington.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran war
- oil and energy prices
- fed rate cuts
- tariffs and trade policy
- inflation and supply shock
Companies and tickers mentioned
- HSBC
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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