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Chapter 1: What is the main topic discussed in this episode?
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
It's smart, calm and to the point.
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Chapter 2: What updates are there on the Iran ceasefire situation?
WTI was down 16% in New York trading to 94.41%, and that helped to ease concern about an energy crisis. And it also revived bets on the Fed cutting interest rates this year. The equity market did seem a bit unfazed by threats to the ceasefire. We had the S&P rallying with a gain of 2.5%. And we got reaction from Ed Morris. He is Senior Advisor and Commodities Analyst at Hartree 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 Hormuz that want to get out.
Ed Morris from Hartree Partners. Minutes of the last Fed meeting show a growing number of officials were worried that the Iran war could further stoke inflation, and officials wanted to make clear that the Fed may have to consider raising interest rates. Here is Bloomberg's Michael McKee.
Most participants raised the concern that a protracted war could lead to further softening of labor markets, which would warrant additional rate cuts. But many participants pointed to the risk of inflation remaining elevated for longer than expected, which, quote, could call for rate increases.
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Chapter 3: What are the implications of the ceasefire for Israel and Lebanon?
The vast majority of participants noted that progress toward the committee's 2 percent objective could be slower than previously expected.
That is Bloomberg's Michael McKee. In the New York metro area, Long Island architect Rex Huerman pleaded guilty to murdering eight women in a string of unsolved crimes dating back to the early 1990s. They became known as the Gilgo Beach Killings. Authorities say the women were killed over a 17-year span. Here is Huerman's attorney, Michael Brown.
As attorneys, we've counseled him, we've advised him, but that decision is ultimately up to the defendant. He controls his case, and that's his prerogative, that's his right, and that's what happened here today.
The 62-year-old Heuermann will be sentenced in June to life in prison without the possibility of parole. In business news, Meta Platforms debuted its latest artificial intelligence model. It's known as MuseSpark, and it was created by Meta Superintelligence Labs. It represents a pivot from Meta's open source strategy.
MuseSpark is a closed model, meaning its design and code will not be made public. And that is news when you want it. With Bloomberg News Now, I'm Doug Krisner, and this is Bloomberg.
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