Iran Says Ceasefire Violated, Trump Lashes Out at NATO

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Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today, Karen.

The ceasefire between the US and Iran appears fragile this morning, even as the US looks ahead to talks this weekend. The White House says Vice President JD Vance will lead a delegation to Pakistan on Saturday along with Envoys Steve Whitcoff and Jared Kushner. Vance says President Trump's terms are clear.

The deal is a ceasefire, a negotiation. That's what we give and what they give is the straits are going to be reopened. If we don't see that happening, the President is not going to abide by our terms if the Uranians are not abiding by their term.

Vice President JD. Vance spoke to reporters in Hungary. Bloomberg's Patrick Sikes reports the terms of the negotiation are in dispute.

Iran has this ten point plan that it talks about being the basis of negotiations. It says that the US is accepted that as a basis for talks. The US talks about its own fifteen point plan, so it does seem we are still some way apart, even on the very broad contours of what is up for discussion this weekend.

That's Bloomberg's Patrick Sikes reporting from Istanbul. President Trump says the US military will remain around Iran until the quote real agreement is fully complied with. If not, he says in a social media post, the real shooting starts. Iran's ambassador to Pakistan post it on x that a delegation would arrive in Islamabad for this weekend's talks tonight. That post has since been deleted without explanation.

Well Nathan, Iranian officials say israel strikes in Lebanon yesterday violated the terms of the ceasefire agreement Israel launched. It's the largest assault yesterday on Lebanon since the start of its invasion. Again, more from Bloomberg. Israeli Bureau Chief Ethan Brauner in Tel Aviv.

Everyone has understood that when the US says the war has to come to an end and Iran, Israel will agree. Israel is insisting on more independence in terms of what it does in Lebanon, and generally the US has allowed it to do that. But Vance's statement suggests that they've said to the Israelis, do us a favor. Here we're in the middle of this negotiation, because what the Israelis did yesterday was their biggest single moment operation since the

And Bloomberg Israeli Bureau chief Ethan Rauner, Lebanon's Health Ministry said at least one hundred and eighty two people were killed and hundreds wounded in the operation.

Karen, President Trump is lashing out at NATO's stance on the Iran war following a meeting at the White House with the Alliance's Secretary General Mark Ruta. Here is route after that meeting with the President.

Well, let me be absolutely clear, is really disappointed and with many nature allies, and I can see his points. But at the same time I was also able to appointed to the fact that the large majority of European nations has been helpful with basing, with logistics, with overflights, with making sure that they lift up to the commitments.

NATO Secretary General Mark Rota made those comments on CNN. A senior NATO official says the US wants specific commitments from European allies on their pledge to help secure the Strait of horm moves after the fighting in Iran stops. Wants the countries to present concrete plans to ensure navigation through the waterway within days.

Nathan FBI director Cash battels As, a former employee of the US military, has been arrested for leaking classified information to the media. It comes two days after President Trump threatened criminal charges for journalists who published details of a military operation to rescue two US airmen in Iran.

When we turned out to the markets, Karen oil is on the rise once again as the Strait of Hormones remains largely blocked. Brent crude is up three point two percent, trading a just shy of ninety eight dollars of Barrow West Texas Intermediate. It's not too far behind, up three point four percent. Yesterday, Brent slumped thirteen percent, its biggest one day drop in six years. Ed Morris is senior advisor and commodities analyst at heart Tree Partners.

I think we're going to see even more volatility than we've had in the past, and that's been a lot of volatility. We don't know what's going to happen in the next two months, let alone the next two weeks, and no matter what happens in terms of a declaration of a ceasefire and an effort to do it, we're not going to see ships moving through the strait except all those lined up trapped north of the strait of hormones that want to get out.

Hartree Partners Commodities analyst Ed Moore says even once hormus transit picks up, it could take weeks or possibly longer to return to normal.

And Nathan stocks are giving up some of yesterday's big gains. Right now, SMP futures are down four tenths of up percent. Yesterday, all three major indexes gained at least two and a half percent. The Dow searched more than thirteen hundred points. Pria Misras, a portfolio manager at JP Morgan Asset Management, some of.

That heated rhetoric over the last few days. I fel like it was coming to a head, So hopefully there is a cease five. I think we're watching headlines like everyone is. I mean, there's a lot of questions. I think as a sigh of relief, but there's a lot of details around who controls the straight of foremost is two weeks enough to get some sort of a permanence.

To this and JP Morgan Asset Management portfolio manager Pria Misra notes the S and P five hundred broke above its two hundred day and fifty day moving averages yesterday.

And that rally Karen N's the second biggest one day gain ever for the world's richest people. In fact, the five hundred wealthiest added two hundred and sixty five billion dollar dollars to their collective fortunes as as stock sword. The surge comes almost exactly one year after the richest gained a record three hundred and four billion dollars in the day following President Trump's declaration of a ninety day

Well, Nathan Let's turn to the economy. Now men, it's the fedes March meeting showed a growing number of officials worried the Iran war could stoke inflation. Most officials worried a protracted war could hurt the labor market and warrant lower interest rates. At the same time, many policymakers highlighted the risk to inflation that might ultimately warrant rate increases.

Well, today, Karen, Fed officials and investors get a slew of economic data. Let's get a preview from Bloomberg's Michael McKee.

It's a day of important but mostly before the war data. The PCE Inflation Index is the Fed's key measure. Both headline and core forecast to be little changed, but the data are from February, before the war started and energy prices skyrocketed. The same caveat holds for consumer spending and incomes. Any sign of a gas price led spending slowdown would be premature. Although nationwide average pump prices were rising through February, the high was only two dollars and ninety eight cents

It's time now for a look at some of the other stories making news in New York and around the world, and for that we're joined by Bloomberg's Michael Barr Michael good Morning, Good.

Morning, Karen. Long Island. Serial killer Rex Kureman entered a guilty plea in the Gilgol Beach murders, with the families of the victims and the court room and his ex wife of twenty seven years and daughter watching Hureman pleaded guilty Wednesday to murdering eight women in a nearly two decade killing spree starting in nineteen ninety three. Heureman strangled as victims who he hired as escorts. Suffolk County District Attorney Ray Tierney, we.

Are honored and thankful for having being able to have played a small role in obtaining a small measure of justice for these families.

Da Ray Tierney says he believes there was just a point where Heureerman was exhausted and did not want to go on defending himself. At least one person is dead after a seventh story garage under construction collapsed in Philadelphia Wednesday. Emergency crews are searching for survivors in the debris, but Fire Commissioner Jeffrey Thompson says the structure remains unstable.

We have to very carefully and methodically deconstruct this building for the safety of the people working on it and ultimately for the safety of the first responders who will continue to search.

Commissioner Thompson says the collapse started in a stairwell of the structure. The Artemis two crew is heading back to Earth after flying behind the Moon. The crew of the Orion spacecraft is carrying out some final tests on the way home. In a news conference from space pilot Victor Glover reflected on the mission.

We have to get back. There's so much data that you've seen already, but all the good stuff is coming back with us. There's so many more pictures, so many more stories, and gosh, I haven't even begun to process what we've been through.

Artemis two is scheduled to splash down in the Pacific Ocean Friday night. Global News twenty four hours a day and whenever you want it with Bloomberg News Now, not Michael Barrn. This is Bloomberg Hearing.

Thanks Michael.

All time now for our Bloomberg Sports Update, and for that we bring in John stash Hour.

Thanks Dawn.

The Oklahoma City Thunder defending the NBA champions and favorites to win again this year. They beat the Clippers in LA to clinch the one seed at home court advantage throughout the playoffs after sixty eight wins last year, at sixty four was still two games to go. That's the third most wins of a two year span in NBA history. The Master's ninetieth edition Tee's off today at Augusta. Rory McElroy's the defending champions Scottie Scheffler won in twenty twenty

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Good morning, I'm Nathan Hagards. Day two of the two week ceasefire between the US and Irana. The situation remains fragile, with Taran accusing the US of violating the agreement through Israeli attacks on Lebanon, but Vice President Jady Vance says it would be dumb, in his words, to let negotiations fall apart over that.

I think the Iranians thought that the ceasefire included Lebanon, and it just didn't. We never made that promise, We never indicated that was going to be the case.

That was Vice President jd Van speaking with reporters in Hungary ahead of the negotiations. He said to lead in Pakistan this weekend, joining us from Tel Aviv. This morning is Bloomberg News. Israel Bureau Chief Ethan Bronner, Ethan, good morning. What is the possibility that these Israeli attacks on Lebanon could derail this truce?

Good morning, Good morning, Nathan. Look, I think they're an obstacle, but I would be surprised if they derailed the truth. I think that the core issue here is the straighter for moves, the global movement of oil, and you know, these larger golf issues, rather than what to some extent has been a side show in Lebanon and his flaw, So you know, it's something that's going to be on the table, but I don't think it's going to be the thing that will cause the problem.

And in the meantime, the attack we saw yesterday by Israel on Hesba of targets in Lebanon was pretty significant to say the very least. What does it mean for Hezbola's potential going forward?

Yeah, what happened yesterday, I mean it was some massive affair of like a hundred planes attacking within ten minutes different spots. The Defense Minister here and the Prime Minister both compared it to the attack that Israel carried out on his Bola a couple of years ago using those rigged cagers which wounded thousands of people. The idea being

You know, is there a concern in Israel that this could lead to a direct Iranian response against Israel.

There is a concern. I will say that the Home Command has told people that they can go back to acting more or less normally. School is due to begin, the airport has vastly increased its traffic. So while there is concern, I would say that the official view is that it will not. There have been a few Hisbola rocket and missile attacks in the last twelve hours or so, but relatively minor, and in the north nothing from Iran.

In our last thirty seconds. With so much focus on the Strait of Horrormus, what is the situation there right now?

Yeah, the situation seems to be that it's still basically blocked by Iran. They stay've handed out a map telling people how they could do it. There's some lack of clarity about whether they're going to continue to collect fees in cooperation with the US. All of that to be negotiated, a huge, huge mess for oil and global economic issues.

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