Chapter 1: What is the main topic discussed in this episode?
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President Donald Trump says the US will blockade the Strait of Hormuz after talks with Iran collapsed. The two sides failed to reach an agreement during marathon talks in Pakistan over the weekend due to differences over the future of Iran's nuclear programme. President Trump told reporters he didn't mind that talks had failed.
I don't care if they come back or not. If they don't come back, I'm fine. Their military is gone. Their missiles are largely depleted. The manufacturing capability for missiles and drones is largely defeated.
The U.S. president added that the blockade will apply to ships entering and exiting Iranian ports from 10 a.m. Washington time today, that's 3 p.m. in London. Other ships that aren't stopping in Iran will be allowed to pass. Iran's foreign minister, Abbas Araghchi, says talks broke down because of America's shifting goalposts and maximalist demands.
The developments put the current two-week ceasefire in doubt.
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Chapter 2: What are the implications of the US blockade on Iran?
We won not small, but big, very, very big. Together we changed the Orbán regime. Together we liberated Hungary. We took our homeland back.
Peter Meyer speaking via translator. Hungary's currency, the foreign, surged after Prime Minister Viktor Orbán conceded defeat. The result, although not complete yet,
The result for us is heartbreaking, but it's clear the role of governing was not given to us. I have congratulated the winning party.
Hungary's outgoing Prime Minister Viktor Orban there. His defeat is expected to unlock billions in blocked EU funding for Hungary. It's also likely to pave the way for the release of 90 billion euros in EU loans for Ukraine, which Orban had refused to approve.
And in sports news, Northern Ireland's Rory McIlroy has become the first golfer to win back-to-back Masters titles since Tiger Woods in 2002. The defending champion finished on 12 under par, one shot ahead of American Scotty Scheffler. Speaking to Sky Sports News, McIlroy says his perseverance paid off.
It was a tough weekend. I did the bulk of my work on Thursday and Friday, but just so, so happy to hang in there and get the job done.
Rory McIlroy speaking there. He becomes only the fourth golfer in history to win back-to-back titles in Augusta.
And those are your top stories on the markets. Brent crude up by almost 7% this morning, $101.80 a barrel. European natural gas prices on the Dutch TTF benchmark 9.1% higher this morning. Eurostox 50 futures down 1.4%. DAX futures down by 1.5% this morning. The Bloomberg Dollar Spot Index is three tenths stronger. The euro trading at 1.1691.
And the 10-year Treasury yield is up three basis points at 4.34%.
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Chapter 3: Why did talks between the US and Iran fail?
I'm Christina Ruffini. We'll bring you the latest headlines, in-depth analysis, and big interviews. All the stories that hit home on your days off. And I'm Lisa Mateo. Watch and listen to Bloomberg This Weekend for thoughtful, enlightening conversations about business, lifestyle, people, and culture.
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