Chapter 1: What is the main topic discussed in this episode?
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Subject to credit approval, Apple Card issued by Goldman Sachs Bank USA, Salt Lake City branch. Terms and more at applecard.com. Bloomberg Audio Studios. Podcasts, radio, news. Let's get you an update on stories worldwide with your Bloomberg Brief. Yajaira Hasmore. Hi, Yajaira. Hi, John. In a prime time address, President Trump saying the U.S.
is very close to completing its military objectives in Iran and vowing to hit the nation, quote, extremely hard over the next two to three weeks. Still, the speech lacked new announcements and most notably a precise timeline for an exit. President Trump also saying in the address other countries need to take the lead on reopening the Strait of Hormuz. The president saying the U.S.
does not need the oil exported through the critical waterway and that the nations who depend on it should, quote, go in and take it. And the headquarters of Goldman Sachs in Paris was placed under police surveillance last night following bomb threats believed to be from an Iranian group.
The threats come just days after a bombing attempt was foiled near the Bank of America in the French capital city, telling its Paris and Frankfurt employees to work remotely as a precaution. Mr. Bloomberg, John. Yahara, thank you. They are concerning headlines. We'll keep tracking that story for you throughout this morning. Up next on the program, turning up the pressure on Iran.
We are on track to complete all of America's military objectives shortly, very shortly. We are going to hit them extremely hard over the next two to three weeks. When this conflict is over, the strait will open up naturally. Up next, we'll catch up with Bloomberg's Tyler Kendall. We'll have more from Jim Zalter. Brammer's going to talk to him in the commercial break.
By the time that's finished, he'll come back a different man. From New York City this morning, good morning. Good morning, good morning. This is Bloomberg Surveillance. Welcome back to the opening trade. Watch Bloomberg Tech. This is the Asia Trade. This is Wall Street Week. Welcome to Balance of Power.
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Chapter 2: How is the U.S. military strategy evolving in relation to Iran?
You're watching Bloomberg Deals. Welcome to Bloomberg This Weekend. This is Bloomberg Television.
Welcome to Bloomberg This Weekend. I'm David Norell.
I'm Lisa Matteo. And I'm Christina Ruffini. We're tracking breaking news today from Wall Street to Washington. Let's start overseas. The sector is really propelling this deal forward.
Yeah, the hope is this will open up new markets and provide some additional liquidity.
Of course, now they're going to have competitors. We've got a big week coming up in politics.
Earnings season is underway. We're going to get some key reports.
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Subject to credit approval, Apple Card issued by Goldman Sachs Bank USA, Salt Lake City branch. Terms and more at applecard.com. I can tell you it didn't work, in case you were wondering. I think he's more fired up. No, he's more fired up. Hold on a second. You've got some concerns.
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Chapter 3: What concerns does Jim Zelter raise about private credit?
The fixation on just BDCs and not the broader asset class? What is it about that's upset you and the team maybe?
Well, I got to push back on being upset.
Well, I can tell you over the last few minutes it's felt that way. Maybe not aimed directly at us, but certainly the coverage of your world.
Well, again, I think that a lot, because of the proliferation of the analysis in every corner of the environment we work in right now, I think that's why I had my message about taking a step back. You know, I do think when you look at the growth of the U.S. economy since 2009, The result has been we have the most robust banking system in the world.
We have the leading banks that are well-run organizations that have done an amazing job and the return on equity and their impact in the U.S. economy is profound. You also have a backdrop of economic growth that is unmatched around the globe.
And I don't think it's any surprise that the advent of pushing out the risk in the banking system, the benefit of securitization, the benefit of CLOs, the benefit of all the things that institutions have helped out with, that has resulted in a much broader, deeper base financing environment. We financed a lot of growth. We financed amazing tech growth.
Our VC marketplace is the most robust in the world. And so I think that many mutual funds today, I'll give you a little analysis. Many mutual funds today were very, very forward thinking and were able to buy SpaceX several years ago. And so SpaceX is part of their portfolio, a small portion.
There's probably not a clearly defined marking process on how they all mark their SpaceX equity because of employee sales, whether it's monthly, quarterly, whatever it is. But just because the marking process may be inconsistent, that shouldn't stop them from buying a great American company that they're gonna do very, very well on.
And so that's why I think we're sort of missing the plot about, I've talked on this show in the past about Berkshire Hathaway, about half of their portfolio being in private companies. And so I do think the whole idea of the public-private convergence, the broader portfolio approach,
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