Bloomberg Daybreak: US Edition

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran said $12 billion of its frozen funds were set to be released as part of ongoing talks with the US, with the two sides broadly signaling progress in negotiations to formally end their war. The unfreezing of funds — as well as the US waiving sanctions on Iranian oil exports and pledging to help set up a $300 billion rehabilitation fund for Iran — has provoked criticism of President Trump. The US and Iran have agreed to set up technical working groups to deal with issues such as unwinding sanctions on the Islamic Republic and curbing its enrichment of uranium.
2) Keir Starmer resigned as UK prime minister after two years in office, and the UK could be set for a quick transition to a new premiership as rivals t o frontrunner Andy Burnham stand aside. Burnham was sworn in as an MP, with the former mayor of Manchester positioned to become Labour’s next leader. The coming switch means the UK will soon have its seventh prime minister in the 10 years since the Brexit vote. Burnham could potentially become prime minister by July 17 if he faces no challengers
3) Tributes to former Federal Reserve Chairman Alan Greenspan poured in after the news of his death early Monday, with many describing him as a driving force for change at the Fed and a guiding light for investors. Greenspan's former colleagues credit him for ensuring the central bank remained focused on inflation, spotting the impact of a productivity boom in the 1990s and shaking up how the Fed communicates. Greenspan's legacy is clouded by the 2008-09 global financial crisis, with critics saying he missed the build-up of a housing bubble that ultimately caused the worst economic downturn since the Great Depression.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Keir Starmer said he would step down as Britain’s prime minister, marking a precipitous fall from favor two years after leading the Labour Party back to power with a landslide majority. Starmer’s departure paves the way for Andy Burnham to attempt to take over as successor, after the long-time mayor of Manchester won a parliamentary seat last week in order to mount a challenge. Starmer’s exit opens the door to Britain’s fifth premier since 2022: a jarring milestone for a political system which once prized itself on its stability.
2) Iran said there had been “major progress” in all-night discussions with the US as the warring sides try to reach a peace deal within two months. Iranian Foreign Minister Abbas Araghchi said the mediators, Qatar and Pakistan, had managed to ease some of the tensions over Lebanon, and Iran was beginning to see financial benefits from last week’s memorandum of understanding. Negotiations are set to continue throughout this week, with lower-level delegates discussing technical matters, and a resolution to the fighting in Lebanon will be decisive for the success of the US-Iran talks.
3) Colombia elected conservative lawyer Abelardo de la Espriella president, heralding a swing back to business-friendly and pro-US policies after four years of leftist rule. De la Espriella had 49.7% of the vote to Senator Iván Cepeda’s 48.7%, with 99.9% of polling stations reporting, in one of the closest results in the nation’s history. The final, confirmed result is expected toward the end of the week, after a review process that begins at the municipal level and moves to regional commissions and the national stage.
4) Alan Greenspan, the Federal Reserve chairman proclaimed a wizard for guiding a then-record US economic expansion, only to see his luster dimmed by the financial crisis that erupted less than two years after he stepped down, has died. He was 100.
He died on Monday at his home, NBC News reported, citing his wife, Andrea Mitchell, its chief Washington correspondent and chief foreign affairs correspondent. The cause was complications of Parkinson’s disease.
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to the next U.S PCE and GDP data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to London Climate Action Week.
In Asia – a look ahead to Australia CPI data.

- Stuart Paul, US Economist with Bloomberg Economics, previews U.S PCE and GDP data.
- Avalon Pernell, Bloomberg Equities Reporter, focuses on 3 stocks for the week ahead.
- Joe Wertz, Bloomberg Weather and Climate Reporter, to preview London Climate Action Week.
- Olivia Rudgard, Bloomberg Green reporter, to preview London Climate Action Week.
- James McIntyre- Bloomberg Economist Covering Australia and New Zealand, previews Australia CPI data.

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On this special Juneteenth Holiday edition of Bloomberg Daybreak - hosted by Nathan Hager:

- We survey the big tech landscape ahead of Micron Earnings with Mandeep Singh, Bloomberg Intelligence Global Technology Lead and Anurag Rana, Senior Technology Analyst at Bloomberg Intelligence
-We look at state of anti-trust cases in America with Jenn Rie of Bloomberg Intelligence.
- Plus, We are just days away from the official start of summer..So we thought it would be a good time to look at travel as many get to embark on vacations..We do that with Nikki Ekstein and Chris Rovzar of Bloomberg Pursuits.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump signed an interim deal to end the war with Iran and reopen the Strait of Hormuz, despite criticism from Republicans. The memorandum of understanding is now in effect, and it envisions the rapid reopening of the strait and immediate sanctions waivers for Iranian oil. The deal has prompted criticism from some of Trump's allies, who say it amounts to a victory for Tehran and that the US is conceding too much, with talks on nuclear issues and potential further financial gains for Iran to follow.
2) Traders dumped short-term Treasuries and bet on interest rate hikes after Federal Reserve chairman Kevin Warsh made clear the central bank won’t tolerate high inflation. The hawkish message was driven home by the projections of individual Fed members, half of whom expect to raise rates by the end of the year. The Fed’s message triggered repositioning in markets, with futures traders expecting a quarter-point rate hike by October and 30-year Treasury yields slipping to the lowest since late April.
3) A ticker-tape parade celebrating the NBA Champion New York Knicks will step off at 10 a.m. from Bowling Green in Lower Manhattan, traveling north along Broadway, and concludes at City Hall Plaza with a ticketed ceremony. The city is preparing for enormous crowds, with spectators expected to number in the millions, and the NYPD will have 10,000 officers at the event. Viewing areas along the route open at 6 a.m., and police will close access points once viewing areas reach capacity, while the mayor’s office gave away 600 tickets to the City Hall ceremony in a public lottery.
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