US Tells Iran ‘Clock Is Ticking’; Aaron Rai Wins PGA Championship

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, we begin with the latest sun efforts to end
the war with Iran. Both the US and Iran remain
far apart on a deal to resolve their conflict and
reopen the strait of horror moves, and now President Trump
is warning the clock is ticking. He wrote that in
a social media post, telling Iran quote, they better get
moving fast or there won't be anything left of them.
We get more from Bloomberg Middle East. Corresponded Jumana Borsecci.
It's a bit of a difference and sentiment from where
we were a week ago, and we thought maybe they'd
be a diplomatic breakthrough after the Trump. She summits that
China would somehow push diplomatically to get through to the
Iranian side and get them to make some concessions. It
has been the case, and what we've woken up to
this morning is more true social threats from President Trump
saying that the clock is ticking. He wants the Rani
inside to sign up to the peace deal. Iranian media,
on their part saying that what the US are asking
for is too maximalists, that the US have not made
enough concessions and what they're demanding are things that Iran
simply cannot concede too.
Bloombergs Jumana Barsetti reporting meantime, a drone attack over the
weekend sparked a fire at a nuclear plant in the
United Arab Emirates. The UAE says it intercepted two other
drones launched from west of the country.
Nathan Treasury Secretary's John Besson is calling on the G
seven nations and others to increase sanctions on Iran. Besson
is in Paris for a meeting of finance ministers and
central bank governors from the Group of Seven Nations. He's
wrapping up an international trip that saw stops in Japan,
South Korea, and China.
And we're getting more details caring about what came out
of President Trump's Beijing summit with Chinese leader Shi Jinping.
The White House says China agreed to buy at least
seventeen billion dollars of agricultural goods per year through twenty
twenty eight and to set up boards of trade and
investment with the US. US Trade Representative Jamison discussed the
agreements on CBS has faced.
The nation Board of Investment is really about discussing key
issues in US China investment policy. It's not really an
investment program, but it's to try to almost be like
a firefighter and put out issues when they arise between
the two countries.
Get in. US Trade rep Jamison Graer. Bloomberg Steven Angel
reports from Beijing that the details on China's AGG purchases
still have to be worked out.
We do know that China has approved the licensing process
for beef to be allowed back into China after a
four fourteen month pause. We're hearing corn possibly another big
crop is sorghum. Cotton is another one. So we'll have
to see where that seventeen billion dollars comes still.
Bloomberg Steven Engel reports the commitment brings China's AGG purchases
back to where they were in the trade deal during
President Trump's first term. He spoke on Bloomberg this weekend,
heard seven am Saturdays and Sundays on Bloomberg Radio, Bloomberg Television,
and the Bloomberg Business app.
Anathan back here at home. Thousands of new Yorkers will
have to find another way to get to work this morning,
and that's because there's a strike at the nation's largest
commuter railroad. We get the latest with Bloombery John Tucker
in New York.
It's the first weekday of the strike. That is up
to three hundred thousand commuters looking for another way to
get to work. And it's not just the striking rail
workers who are making their voices heard.
I pay three.
Hundred and ninety four dollars a month. It better be
a seamless transaction for me to receive a refund.
The Ali Double Arre operates twenty four to seven serves
one hundred and twenty six stations across more than three
hundred route miles on seven hundred miles of track. Governor
Kathy hokel the.
Railroad is the lifeblood of Long Island. Without it, life
as we know it is simply not possible.
The MTA, which runs New York City Subways, bosses and
commuter rail lines, is advising people to work from home
if possible. Two hundred and seventy five free shuttle buses
across six Long Island locations are shuttling essential workers to
some stations in Queens. If you have deeper pockets, Bleed
is offering ninety five dollars one way helicopter rides for
those driving calls to suspend New York's congestion pricing. They
went nowhere. With the union seeking a five percent raise
this year, The MTA on Friday offered nearly four and
a half percent. Negotiations between the unions and the MTA
restarted yesterday in New York Time, John Tucker, Bloomberg Radio.
John, Thanks, let's turn to politics. Now, attention turns to
tomorrow's Kentucky primary. It's after Senator Bill Cassidy was decisively
defeated in the Republican primary in Louisiana over the weekend.
President Trump campaigned against Cassidy after he voted to convict
the president during an impeachment trial over the attack on
the Capitol. Now, the President's focused on getting Congressman Thomas
Massey booted in Kentucky. Massy spoke on ABC's This Week.
I think that's going to help my fundraising at Thomasmassey
dot com.
Every time he tweets about me, it's good for some
money coming in because people.
Don't like Kentucky Republican Thomas Massey again on ABC's This
Week Heard Sundays on Bloomberg Radio. Massey has angered the
President by voting against his signature tax legislation, pushing for
the release of the Jeffrey Epstein files, and opposing the
President's decision to go to war with Iran.
Nathan Tomorrow also brings US primary elections in Alabama, Idaho, Oregon, Pennsylvania,
and Georgia. Georgia's primary will provide an early read on
key dynamics shaping the twenty twenty six cycle, with both
the governor's race and a messy Republican Senate contest in focus,
and they're to cover it all. Bloomberg Balance of Power,
Joe Matthew and Kayley Lines are live in Atlanta breaking
down the races. You can catch them at noon, Wall
Street Time on Bloomberg Radio, Bloomberg Television, and the Bloomberg
Business app.
Turn into Sports Now, Karen, Because history has been made
at the PGA Championship. In Bloomberg's John Stash hours here
to tell us more, John.
Nathan and England. They've been waiting since nineteen nineteen for
a PRETI J champion and I unlikely winner sealed his
victory on the next to last hole.
Here, Aaron Rye has just hit a beautiful bird.
About seventeen week chains it from fifty feet.
Aaron Rye is unstoppable aeronomics.
He is nine hundred parm must get.
One of the calls heard here on Bloomberg Radio. Thirty one
year old Rye had only won one tournament before, had
never finished in the top fifteen of a major. He
pulled away on the back nine won by three shots.
Well here from Aaron Raie coming up in sports, John Stashaware,
Bloomberg Radio.
Right, John, thank you. Let's turn to the markets now,
and futures are lower this morning. Bonds are off their
worst levels of the morning as well. And we're checking
US treasuries right now, with the ten year yield four
point five nine percent, yield on the two year four
point zero seven percent, of the thirty year yeald five
point one two percent in Asia, Japan's thirty year yield
search of the highest level since nineteen ninety nine. Mark
Cranfield covers the markets for Bloomberg.
When you have the long end of bond markets behaving badly,
it really is one of the US scenarios you can
get across asset markets. Central banks control the short end
pretty well. They are just interest rate policy, and that
has a very big effect on where short term yields go.
They have very little control over the long end of
bond markets, particularly when bond supply is so huge around
the world. Fiscal deficits are increasing in most of them.
There doesn't seem to be a great deal of people
wanting to get on and reduce those deficits. Are all
in fact that it's going. The Iran war has made
it worse. It's going the other way. Investors can see that.
Bloomber's Mark Cranfield says bond yields are rising not only
on oil driven inflation risks, but also do the fears
that governments will ramp up borrowing to cushion rising living costs.
As the rout continues, Karen Veteran market strategist ed Yard Denny,
is warning that the Fed needs to catch up with
the bond markets or risk losing control of borrowing costs.
Denny says the Central Bank should remove its easing bias
at next month's meeting, given that it is, in his words,
no longer appropriate in the current market environment. Denny expects
the FED to hold rate unchanged at the June meeting
and shift to a tightening policy stands.
Time now for look at some of the stories making
news in New York and around the world, and for
that we're joined by Bloombers Michael Barr, Michael good Morning.
Good Morning. Karen. Uganda postponed an annual religious holiday usually
held on June third, following an outbreak of the ebola
virus in neighboring Democratic Republic of Congo. Uganda has confirmed
two infections and one death from the outbreak. About three
hundred and fifty suspected cases and ninety one deaths have
been reported in northeastern Congo. Doctor Jean Casea, Director General
of Africa Centers for Disease Control and Prevention, says that
Western countries need to make an investment in Africa and
vaccines and therapeutics to fight a boler.
Western countries de dun't understand that when Africa is affected,
they are also at risk because people are flent every
day and it means building stone system voting Africa, investing
in Africa.
Doctor Jean Cassea. The CBC is escalating its response to
the abola outbreak after the who labeled it a public
health emergency. The cruise ship hit by a hunted virus outbreak,
is set to arrive in the Dutch port of Rotterdam
later today. The ship has twenty five crew members and
two medical staff on board, none showing symptoms. Officials in Austin,
Texas say two teenagers are in custody and a third
suspect has been arrested after at least ten random shootings
that left four people heard over the weekend. At one point,
authorities ordered residents of a large part of southern Austin
to shelter in place on Sunday while the investigation continued.
Austin Mayor Kirk Watson says the shootings appeared to be random.
Police Chief Lisa Davia says the shootings occurred Saturday and
Sunday morning, including two outside fire stations.
A motive, I don't know what a motive is.
I don't know what motive would drive anybody to come
and drive around censusly in the city and multiple parts
of the city shooting.
Chief Davis says the suspects apparently we're stealing vehicles as
they moved about. Global News twenty four hours a day
and whenever you want it with the Bloomberg News Now
Michael Barr and this is Bloomberg Heron.
All right, Malchaol Barr, thank you time now for the
Bloomberg Sports Update. It's brought to you by Flashing Bank
and here's John stash Hour, John, good morning.
Good morning Karen. The PGA Championship had a very crowded
leaderboard until the end when Aaron Rye pulled away. It
started with his eagle on the ninth holl that he
shot thirty one on the back nine, including a sixty
eight foot put on seventeen, finished with a sixty five,
never had a round over par nine hundred, was three
shots better than John Rahm in the one hundred and
eighth PGA rise, the first Englishman to win since the
second PGA in nineteen nineteen.
There's a lot of incredible and historic English players over
those hundred years who've gone on to achieve incredible things
and had phenomenal careers. But to win this event and
then to be yeah, a person that's the first one
to have won in such a long time from England
is yeah, is an amazing is an amazing thing.
At the start of the tournament, the odds on an
Aaron Raye victory was as high as two hundred and
ninety to one a week after the next locked up.
It's fine on the Eastern Conference Finals. They finally know
their opponent, the Cleveland Cavaliers. Nicks went two and one
against them in the regular season. They went zero one
three versus Detroit, two losses by over thirty points. With
the Calves, the Knicks get home court, but they'll play
a Cleveland team that looked off for the good last night,
blowing out the Pistons in Game seven one twenty five
to ninety four, the third largest win ever by a
road team in a Game seven. Knicks and Calves start
tomorrow at the Guard and the West Finals start tonight
San Antonio at Oklahoma City, Okay see Shay Gildess. Alexander
will be given his MVP trophy at Cityfield. Stunning finished
to the Subway series. The Yankees led five to one,
They led six to three with two outs in the
bottom of the NYE tire our own Taylor a game
time three run home off David Bednar. The Mets won seven,
six and ten names. It ends a brutal road trip
for the Yankees. They went two and seven are now
three games behind Tampa Bay. Red Sox lost it Atlanta
eight to one. The Nationals beat the Orioles seven to three.
John Stanshedward Bloomberg sports Car.
You stay with us. More from Bloomberg Daybreak coming up
after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. The clock is ticking. That
is the warning from President Trump to Iran on social media,
as both sides remain far apart on a deal to
end their nearly three month war. For the latest were
joined by Bloomberg Middle East correspondent and Bloomberg Horizons anchor
Jumana Bursecci Jaman. Of course, we've heard threats from the
President in the past. Is this time different? Good morning?
Yeah?
Well, I suppose we'll find out in the coming days.
But certainly a bit of a contrast with the sentiment
we had towards the end of last week. Remember, people
were optimistic, hopeful that there might be some form of
a breakthrough after that Trump She summit that maybe China
could exert some influence on Iran, but that does not
appear to be the case, and if anything, the rhetoric
has once again deteriorated overnight that the truth social posts
that you mentioned, Trump saying that the clock is ticking.
He wants to see Iran come to the table sign
a piece deal. Iran, for their part, over the weekend,
Iranian state media saying that what the US is demanding
out of them is too maximalists and that they are
not going to surrender or compromise. So we are back
to a situation of impasse, and not just on their
respective negotiating positions, but of course when it comes to
the Straits as well.
Well, what do we know, Jumana about the demands that
Iran says are too maximalist? What are both sides holding
out for at this point?
Yeah, so that you know, it comes back to the
same issues that we've been talking about for the better
part of honestly all of this year. But one of
Iran's media news agencies, this is far As News agencies,
said that the US had asked for five main conditions
for a peace deal, including transferring the highly enriched uranium
to the US no war reparations, and unfreezing less than
a quarter of Iran's frozen assets. So this has just
been cited by the Iranian media, It has not been
conferred by the US, to be clear, But equally that
sort of tallies up with what we know the US
have been putting forwards, and President Trump a couple of
times of the past week has suggested that the Iranian
response to their proposal has been quote unquote garbage. That
he didn't make it through the first paragraph, is what
he says. And so once again it comes back to
which side is going to blink first, which side is
going to make concessions. But President Trump has said over
the course of this war that the main goal is
to ensure that Iran doesn't go on to develop an
nuclear weapon. The question is how they can ensure that
that does not happen, what it means for the fate
of that highly enriched stockpile, and what it means for
all the centrifugias that Iran still have access to.
In the meantime, we're hearing reports of drone attacks on
a nuclear plant in the United Arab Emirates as well,
putting the nuclear issue front and center there. I mean,
what does that tell us about where the ceasefire stands
right now?
Yeah, remarkable and dangerous escalation. Thankfully, no radiation leaks detected
this per the IEA, there was a drone attack on
the UAE yesterday ABUW and this was targeted at a
civilian nuclear power plant. It counts for about twenty five
percent of the electricity generation within the UAE. It caused
the fire an electricity generator, but no injuries and as
I said, no radiological leak. But again, it's just another
example of how Iran can cause disruption and potential damage
at key infrastructure sites. And by the way, it wasn't
just in the UAE. Saudi Arabia this morning also announcing
that they had intercepted three drones that were being fired
from Iraq actually not Iran. And so this raises the
broader question as to who exactly is firing these projectiles
towards the UAE and Saudi Arabia. Is it proxies, is
it Iran themselves? Does the Iranian military still have control
over these actors?
You know?
Still it opens up a box of worms, and again
it's just another reminder that there's still a lot of
disruption that Iran could cause.
This is Bloomberg Daybreak, your morning podcast on the stories
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