US & Iran Weigh More Talks; China Says World Order ‘Crumbling’

Bloomberg Audio Studios, podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Alexis Christophers.
Here are the stories we're following today.
A like since we begin with the latest developments in
the war in the Middle East. The US and Run
are considering a second round of talks before their two
week ceasefire ends next week. Reuters is reporting negotiating teams
from both sides could return to Islamabad this week. Vice
President Jade Vance led the discussions that broke down over
the weekend. He was asked on Fox News about the
prospect of a second round.
Are there more talks coming, do they happen in Pakistan?
And are you leading them?
Well, it's an interesting question, bretton. I think fundamentally it's
a question that would be best put to the Iranians
because the ball really is in their court. We've made
clear where we're willing again to be accommodating, and we've
made clear where we absolutely need to see the nuclear
material come out of the country of Iran.
Vice President Jadvan spoke Fox's Brett Baher as President Trump
presses ahead with a naval blockade on Iran. Bloomberg's owner
Aunt has more from Dubai.
The blockade is aimed at intercepting or stopping any oil
or other vessels going into or out of the Pressure
Gulf if there if one of their destinations is Iran,
so in theory it should bring to nearly zero what
was already a trickle of regular traffic through the Strait of.
Home with Bloomberg's owner on reports, a sanctioned vessel linked
to China is testing the blockade. A medium range tanker
named rich Starry is trying to exit the Straight for
the second time in less than twenty four hours, and.
Nathan Chinese President Jijinping is making his first remarks on
the Iran War since the US and Israel began attacks
more than a month ago. She is vowing to play
a constructive role in the Middle East. At a meeting
with Spain's Prime Minister Patro Sanchez, she said that peace
must be prioritized.
Both China and Spain are principled and moral countries, both
willing to stand on the right side of history. We
should strengthen communication, consolidate mutual trust, cooperate closely, oppose the
world's regression, the law of the Jungle, and jointly safeguard
genuine multilateralism and global peace and development.
Chinese President Hijin Peg, speaking there through an interpreter, describe
the international order as quote crumbling into disarray.
Well with the war under way Alexais. President Trump has
been feuding with Pope Leo the fourteenth that has led
to a controversy on social media. The President posted an
AI generated image that seemed to depict him as a
christ like figure healing a sick patient. He has since
deleted that photo, but he says it wasn't an accident.
I did first it and I thought it was me
as a doctor and had to do with Red Cross
as a Red Cross worker there, which we support, and
only the fake news could come up with that one.
The President Trump called Publio week on Crime after the
pawn Off spoke out against the war. The President didn't
explain why he deleted the post, but it did spark
a backlash, including from some of his supporters. Vice President
Vance told Fox News the President took it down because
people didn't understand his humor.
A couple of departures from Congress on both sides of
the isle, Democrat Eric Swalwell and Republican Tony Gonzalez said
they plan on leaving their seats in the wake of
allegations of sexual misconduct. Swalwell announced his intent to resign,
saying he must take responsibility and ownership for the mistakes
he did make, while also vowing to fight the serious
false allegations made against him. Gonzala said he planned on
filing his retirement from office after allegations that he had
an affair with a staffer who later died by suicide.
Okay, let's turn to the markets now. Alexis futures are
indicating the recent Wall Street rally has legs.
Right now.
S and P futures are up three tenths of one percent,
or nineteen points. The S and P five hundred index
has now erased all its losses since it's the start
of the war. Max Wasserman is senior portfolio manager at
Miramar Capital.
Every word the President says, the market makes a move
right and it seems to want to discount any potential
negativity towards the positive uptrend. So to me, this market
is basically discounting nothing negative and is extremely optimistic.
Miramar Capitals Max Wasserman. The SMP five hundred had fallen
almost eight percent since the war. Meanwhile, West Texas intermediate
oil prices climbed fifty one percent in March, and checking
crude this morning, it's pulling back a bit, with WTI
crewed down about two and a half percent at ninety
six dollars fifty eight cents per barrel, while Brent is
down one point one percent at ninety eight dollars twenty
seven cents.
And Nathan, we are seeing more effects of the war.
The International Energy Agency says global oil demand will decline
this year for the first time since the twenty twenty pandemic.
The IEA says the war has triggered the biggest supply
disruption in history because oil flows through the Persian Gulfs
Strait of Horror moves have been choked off. And in
company news, we've got shares of American Airlines up more
than four percent here in early trading, sources tell Bloomberg.
United Airlines CEO Scott Kirby has floated a possible combination
with American Airlines. A combination of United and American would
create the largest airline and post serious antitrust concerns, It
would likely face significant backlash from consumers, politicians, and rival
US airlines.
Yeah, we're also watching shares of global Star this morning.
Alexus there more than fifteen percent. Bloomberg News has learned
Amazons in advanced talks to acquire the satellite operator as
it builds out its low Earth orbit network in a
bid to compete with Elon Musk's SpaceX. It's fast growing
Starlink unit has more than ten million active customers in
about ten thousand satellites in orbit.
Time.
Now for a look at some of the other stories
making news in New York and around the world. For that,
we're joined by Bloomberg's John Tucker.
Good Morning, John, Good morning of LIKESUS.
Members of a congressional panel Laura sent to meet with
Pentagon officials tonight. They'll discuss the Trump administration's request a
supercharged military spending. The Office of Management and Budget has
asked that three hundred and fifty billion dollars go through
the budget reconciliation process, which allows the Senate to bypass
the filibuster. The federal government has agreed the Rainbow Pride
flag can fly at the Stonewall National Monument in Manhattan.
That story from Bloomberg's Charlie Pellett.
It's a course reversal after removing the flag. In February,
the government revealed the decision in court papers as it
agreed to settle a lawsuit filed by LGBTQ Plus and
historic preservation groups, who had sought to block the removal.
Lawyers for the government and the groups wrote in a
joint court filing that the Interior Department and National Park
Service have confirmed their intention to maintain a Pride flag
at Stonewall in New York. Charlie Pellett, Bloomberg Radio.
And prosecutors have filed attempt at murder and other criminal
child arches against a man for allegedly throwing a Maltov
cocktail at the home of OpenAI chief executive officer Sam Altman.
No one was injured in the attack. Canadian Prime Minister
Mark Carney secured a majority government after his Liberal Party
won three key special elections. It gives his administration the
ability to push ahead faster with an economic agenda centered
on expanding energy exports and reducing Canada's reliance on the US.
The twenty twenty six Rock and Roll Hall of Fame
inductees have been announced in among them, Phil Collins, Billy Idol,
Iron Maiden an Oasis is going to be Collins's second
induction into the Hall of Fame. He's previously inducted in
twenty ten as a member of Genesis Global News twenty
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Thanks John, time out for our Bloomberg Sports update, and
for that you bring in John stash hour.
A wild baseball game in New York, a game where
Mike Out, Trent Grisham, and Aaron Judge all homer twice.
The Yankees scored three runs in the bottom of the
night the even beat the Angels eleven to ten. They
held the WNBA draft, and the Dallas Wings, with the
first pick overall, took Yukon guard Asy Fudd. UCLA, who
just won the National Championship, saw five players get drafted
in the first round. The NBA play in games beginning
tonight with Miami at Charlotte, Portland at Phoenix. That's your
Bloomberg Sport update.
Stay with us. More from Bloomberg Daybreak coming up after this.
Coast to Coast on Bloomberg Radio nationwide on Serious Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business out. This is Bloomberg Daybreak.
Good morning on Nathan Hager. Markets and the world are
holding out for the prospect of a second round of
talks between the US and Iran, even with a blockade
aimed at Tehran's oil exports under way. President Trump says
his goal is clear, we can't.
Let a country blackmail or extort the world, because that's
what they're doing. They're really blackmailing the world. We're not
going to let that happen.
And that was President Trump at the White House yesterday.
Joining us this morning from Dubai is Bloomberg Middle East
correspondent Jumana Bressecci, the anchor of Bloomberg Horizons. Jumana, what
is the prospect of our second round of negotiations as
the Strait of Horror moves apparently is under blockade?
Good morning, Yeah, good morning. Well, there is plenty of
reporting overnight suggesting that there has been good momentum or
progress towards moving to a second round of negotiations, even
our own colleagues at Bloomberger saying that we have heard
from various sources that there is appetite to do another
round of talks. And of course you have to remember
that the clock is ticking because the seasfire does, in
theory expire on April twenty first, So the idea would
be to have another round of talks before the seasfire
comes to an end. President Trump himself yesterday said that
he'd received a call from the Iranians, from the right people,
he said, and he cited them as one thing to
make a deal. We also heard from the Iranian president
overnight who said that they are willing to continue with
negotiations so long as it's done within a quote unquote
international framework. So yes, there's definitely momentum. Whether again this
time the two sides can meet with the view of
actually achieving a breakthrough because they still seem to be
pretty far apart from the last round of negotiations is
up for debate, but certainly it comes as a relief
I would say to the region, to the world that
there is positive momentum on the diplomatic channel.
We did see the breakdown of talks in Islam about
over the weekend, led by Vice President JD. Vancy was
on Fox News last night talking about the prospect of
another round. What is our sense of where the two
sides stand now in terms of what they are looking
for from each other.
Yeah, well, you remember when we were discussing a couple
of weeks ago about the various proposals that the US
for putting forward the ten point proposal versus the fifteen
point proposal, on how far part the two were. I
think now what we can say is it's been condensed
to a matter of a couple of topics, and those topics,
from what we understand from our reporting, from our sourcing,
really boiled down to the strait, which is why the
President Trump introduced their own version of a blockade yesterday
in the late hours of the afternoon. So far seems
to be uneventful. And the second point is again the
very nexus of all of this, which is Iran's nuclear ambitions.
And I just to refer back to Jed Evans because
you got it to now. The day he left Islamabad,
he said quite clearly that they did not receive sufficient
assurances from Iran that not only would they not go
on to develop a nuclear bomb, that they don't have
the ambition to do so, but also that they would
relinquish the tools that would allow them to develop a
nuclear bomb. So it's not just about the ambition, but
it's also the tools as well.
I e.
There's centrifuges, and of course that four hundred kilo plus
pile of enriched uranium that there's on So you have
to imagine that from the US's perspective, if they want
to get this deal over the line, there has to
be some form of retrieving that enriched softfill, alongside assurances
from Iran that they will keep their enrichment at low
levels or at no levels, and in return, Iran are
going to be pushing very aggressively for a win that
they can present back home, which would probably include sanctions
for relief.
This is Bloomberg Daybreak, your morning podcast on the stories
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