Bloomberg Daybreak: US Edition

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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Bloomberg's Lisa Abramowicz and Scarlet Fu discuss remarks from Fed Chair Kevin Warsh following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Warsh vowed to restore price stability following his first policy meeting since taking the helm of the US central bank, after officials left interest rates unchanged and signaled growing support for rate hikes this year.

“Persistently high prices are a burden for the American people, but the recent past need not be prologue,” Warsh said in his debut press conference as chairman. Officials “are unambiguous and unanimous. This committee will deliver price stability.”
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