# US Attacks Prompt Iranian Retaliation; MA Election Results

An episode of [Bloomberg Daybreak: US Edition](https://invisiblenetwork.ai/podcast/1663860720), 2 Sep 2026, 16 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/d15648c4-cee0-4e99-a5ca-af80014d921d/cf25bec5-becc-4111-9a8a-b4b900a05c56/audio.mp3?utm_source=Podcast&in_playlist=65ce2954-d8a8-4c66-9f42-af80014d923e

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Fighting between the US and Iran over control of the Strait of Hormuz escalated, with Tehran accusing American forces of bombing a residential area in a wave of overnight strikes.The US military carried out its second round of attacks in three days, which US Central Command said targeted radar systems and mine-laying capabilities along Iran’s southern coast. This prompted the Islamic Republic to retaliate with drone and missile volleys on US bases across the Middle East, in line with tactics used throughout the six-month war. 2) Three Massachusetts Democrats with more than 110 years of service in Congress between them held off much younger challengers in Tuesday’s primaries.Sen. Ed Markey, an outspoken progressive, trounced Rep. Seth Moulton, a more moderate candidate, by 65%-35% in nearly complete returns. Moulton, 47, ran an anti-establishment and generational-change campaign that tried to make the case that Markey, 80, shouldn’t be given another six-year Senate term he would finish at age 86. Markey said he was as invigorated as ever to stand up to the Trump administration. 3) The selloff sweeping global bond markets looks painful, but it’s nothing compared with the rout four years ago, when soaring inflation forced central banks into a series of rapid-fire interest-rate hikes.The difference is scale. While the latest pullback has driven yields to multi-year highs in the world’s biggest markets, the move is just a fraction of the one seen in late 2022. Global government bond yields have risen 17 basis points on a rolling 20-day cumulative basis, compared with 62 basis points back then, data compiled by Bloomberg show. On a peak-to-trough basis, bonds have lost 4.2% this year — a far cry from the 23% plunge seen in 2022. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios.
[0:04] Speaker 2: Podcasts.
[0:05] Speaker 3: Radio.
[0:06] Speaker 2: News.
[0:10] Speaker 1: Good morning. I'm Nathan Hager.
[0:11] Speaker 2: And I'm Karen Moscow. Here are the stories we're following today.
[0:15] Speaker 4: Karen, we begin with the latest on the escalating conflict
[0:18] Speaker 4: in the Middle East.
[0:19] Speaker 1: The U.S. has carried out a fresh wave of.
[0:21] Speaker 4: Attacks on targets tied to Iran's Islamic Revolutionary Guard Corps.
[0:25] Speaker 4: Iran says the strikes killed four members of the IRGC.
[0:29] Speaker 4: It says it has retaliated with missile launches on U.S.
[0:31] Speaker 4: bases in Jordan and Bahrain. And it's accusing the U.S.
[0:35] Speaker 4: of bombing a wedding ceremony as well, killing five people.
[0:39] Speaker 4: President Trump is downplaying the chances for a deal, writing
[0:41] Speaker 4: on Truth Social, quote, I couldn't care less if they
[0:44] Speaker 4: sign a worthless-to-them agreement. We get more from Bloomberg Middle
[0:48] Speaker 4: East correspondent Abir Abu Omar in Dubai.
[0:51] Speaker 3: Essentially what President Trump had said in his latest remarks
[0:54] Speaker 3: was that he doesn't really care if Iran comes back
[0:57] Speaker 3: to the negotiating table. He actually said that he thinks
[0:59] Speaker 3: that the United States is in a good position right now.
[1:02] Speaker 3: The response that that stoked from Iran was in the shape,
[1:05] Speaker 3: of course, of a response from the president, who was
[1:08] Speaker 3: in Kyrgyzstan for a conference. He did say that Iran
[1:11] Speaker 3: is willing to go back to the MOU concessions if
[1:13] Speaker 3: the U.S.
[1:14] Speaker 1: Were to go back to diplomacy.
[1:15] Speaker 3: And then the foreign minister, of course, Abbas al-Shiha said
[1:18] Speaker 3: that Iran is not taking away the diplomacy route completely.
[1:21] Speaker 3: It is willing to go back there. But again, only
[1:24] Speaker 3: if the United States were to seize its economic pressure
[1:27] Speaker 3: campaign and also the military pressure campaign.
[1:30] Speaker 4: Bloomberg's Abir Abu Omar reports Treasury Secretary Scott Besant is
[1:33] Speaker 4: calling Iran's leaders panicked over their country's economic problems.
[1:37] Speaker 1: At some point, he says they will be ready to negotiate.
[1:40] Speaker 2: Well, Nathan, Secretary Besant is hosting a G20 finance minister's
[1:44] Speaker 2: summit in Asheville, North Carolina this week. He says the
[1:47] Speaker 2: gathering won't end with a traditional joint communique. And the
[1:51] Speaker 2: reason why, he says, is China due to a dispute
[1:54] Speaker 2: over the country's trade surplus.
[1:57] Speaker 5: It is clear that the country with the world's largest
[2:00] Speaker 5: and unsustainable current account surplus, People's Republic of China, was
[2:06] Speaker 5: the dissenter. And I think that we have 19 other voices.
[2:14] Speaker 5: And as I said, my chairman's statement will echo that.
[2:18] Speaker 2: Treasury Secretary Scott Besson did release a statement saying China
[2:22] Speaker 2: dissented on paragraphs related to shipping through the Strait of Hormuz,
[2:25] Speaker 2: creating a task force on trade imbalances and provisions tied
[2:29] Speaker 2: to debt restructuring. China released its own statement saying G20
[2:32] Speaker 2: members should safeguard free trade and promote economic globalization. It
[2:37] Speaker 2: did not address Besant's remarks directly.
[2:39] Speaker 4: Now, Karen, let's get to the latest on the race
[2:41] Speaker 4: to the midterms. The results are in from last night's
[2:43] Speaker 4: primary elections in Massachusetts. In the Democratic Senate race, 80-year-old
[2:48] Speaker 4: progressive incumbent Ed Markey beat back a challenge from 47-year-old
[2:51] Speaker 4: moderate Congressman Seth Moulton 65 to 35 percent. Markey told
[2:56] Speaker 4: his supporters last night his victory should be just the beginning.
[3:00] Speaker 1: We need to build more.
[3:02] Speaker 6: Than just a Democratic majority in Congress. We need to
[3:05] Speaker 6: cement a progressive Democratic majority, one that will use its
[3:10] Speaker 6: political capital to take on the bosses, the billionaires, and
[3:13] Speaker 6: the wannabe kings.
[3:15] Speaker 4: Senator Ed Markey will now face Republican John Deaton in November,
[3:18] Speaker 4: who ran uncontested. In the race to fill Seth Moulton's
[3:22] Speaker 4: House seat in the 6th District, Dan Coe, a former
[3:24] Speaker 4: White House official and Boston City Hall alum, clinched the
[3:27] Speaker 4: Democratic nomination. He got 41% of the vote in a
[3:31] Speaker 4: five-way race. Coe will now face Micah Jones, an Army
[3:34] Speaker 4: veteran who was endorsed by Former Republican Governor Charlie Baker
[3:38] Speaker 4: Jones was the sole Republican running in that North Shore-anchored district.
[3:42] Speaker 2: Well, Nathan, a couple of veteran Democratic congressmen in Massachusetts
[3:45] Speaker 2: also won their primaries, so they faced challenges from the left.
[3:49] Speaker 2: Seventy-seven-year-old Richard Neal beat Jeremy Whelan in the 1st District
[3:53] Speaker 2: 54 to 46 percent, and in the 8th District, 71-year-old
[3:57] Speaker 2: Stephen Lynch defeated attorney Patrick Roth 55 to 45 percent.
[4:01] Speaker 2: And in the Republican primary for Massachusetts Governor Michael Minogue
[4:04] Speaker 2: will go on to face Democratic incumbent Maura Healey in November.
[4:08] Speaker 2: He beat Brian Shortsleeve last night, 76 to 24 percent.
[4:12] Speaker 4: Turning to the nation's capital now, Karen, House lawmakers have
[4:15] Speaker 4: passed a stopgap funding measure helping to avert an October
[4:19] Speaker 4: 1st government shutdown.
[4:21] Speaker 1: Bloomberg's Amy Morris reports from Washington.
[4:23] Speaker 7: The bill will keep money flowing to federal agencies until December,
[4:26] Speaker 7: preventing a government shutdown before Election Day. House Speaker Mike Johnson.
[4:31] Speaker 8: House Republicans are in charge here, and we're continuing to
[4:33] Speaker 8: do the grown-up thing and make sure we get the
[4:35] Speaker 8: job done. And we're happy that we just passed that
[4:37] Speaker 8: continued resolution to find the government through early December. and
[4:41] Speaker 8: they will continue through the process after the election.
[4:44] Speaker 7: The bill had broad bipartisan support. It now goes to
[4:47] Speaker 7: President Trump for his signature. But Trump has said that
[4:50] Speaker 7: he will not sign any legislation until Congress passes new
[4:54] Speaker 7: voter ID requirements. In Washington, Amy Morris, Bloomberg Radio.
[4:58] Speaker 2: All right, Amy, thank you. The murder case against the
[5:00] Speaker 2: man accused of killing political commentator Charlie Kirk can proceed
[5:04] Speaker 2: to trial with a charge that makes the suspect eligible
[5:08] Speaker 2: for the death penalty. A Utah district judge sided with
[5:11] Speaker 2: prosecutors who said they had a mountain of evidence that
[5:15] Speaker 2: defendant Tyler Robinson fatally shot the conservative activist as he
[5:19] Speaker 2: spoke to a crowd of thousands at Utah Valley University
[5:22] Speaker 2: last September. Robinson pleaded not guilty to all counts, including
[5:26] Speaker 2: aggravated murder.
[5:27] Speaker 4: And we're learning more about this week's knife attack in
[5:29] Speaker 4: New York City's Times Square, Karen. The victim who died
[5:33] Speaker 4: in that attack has been identified as a Bank of
[5:35] Speaker 4: America vice president, 32-year-old Aaron Piacenti. Bank of America's main
[5:40] Speaker 4: Manhattan office is located right near the heart of Times
[5:43] Speaker 4: Square at 1 Bryant Park. The suspect, Pamela Cisneros, was
[5:47] Speaker 4: shot and killed by police.
[5:48] Speaker 2: We now turn to the markets and the economy, Nathan.
[5:50] Speaker 2: Treasury Secretary Scott Besson's effort to lower bond yields is
[5:53] Speaker 2: running smack into investor skepticism. And we get an update
[5:57] Speaker 2: from Bloomberg's John Tucker. John, good morning.
[5:59] Speaker 9: Good morning, Karen.
[5:59] Speaker 1: The yield on 30-year U.S.
[6:01] Speaker 9: Government bonds have climbed back to levels seen just before
[6:04] Speaker 9: Besson's controversial buyback program. And Dan Moorhead at Pantera Capital
[6:09] Speaker 9: likens Besson's move to a poker bluff that didn't bluff anybody.
[6:14] Speaker 1: The only way a bluff works.
[6:15] Speaker 10: Is if nobody at the poker table knows you're bluffing.
[6:18] Speaker 10: And to slide an extra $ 2 billion of chips out
[6:21] Speaker 10: onto the table when you are a for-seller of $ 2
[6:25] Speaker 10: trillion with a T every year of bonds just doesn't
[6:29] Speaker 10: make any sense.
[6:30] Speaker 9: And this morning, the long bond, 5.28%. Investors say it's
[6:34] Speaker 9: going to take more than a tweak to soothe worries
[6:36] Speaker 9: about increasing government spending and elevated inflation. The buybacks typically
[6:41] Speaker 9: don't substitute for the work that's required to structurally lower yields.
[6:45] Speaker 9: For his part, Besson has characterized his steps as an
[6:48] Speaker 9: effort to nudge the market, saying he's trying to slow
[6:51] Speaker 9: things down. In New York, I'm John Tucker, Bloomberg Radio.
[6:53] Speaker 1: All right, John, thank you. Let's turn to equity markets now.
[6:57] Speaker 4: Futures are moving lower this morning after yesterday's losses on
[7:00] Speaker 4: Wall Street. But this morning, shares of Dell are moving
[7:04] Speaker 4: higher in a big way, up nine and a quarter percent.
[7:07] Speaker 4: The company boosted its annual sales forecast by $ 25 billion
[7:10] Speaker 4: due to surging demand for servers to run artificial intelligence tasks.
[7:15] Speaker 4: Michael Monahan is portfolio manager at Founder ETF.
[7:19] Speaker 11: Dell has had a great year up to 200 plus
[7:21] Speaker 11: percent already year to date. But I think that they're
[7:24] Speaker 11: earning that premium valuation with the numbers that we're seeing.
[7:27] Speaker 11: So not only is the AI server business growing very rapidly,
[7:31] Speaker 11: their traditional business is growing as well.
[7:32] Speaker 1: With expanding margins. It's founder ETF's Michael Monahan.
[7:35] Speaker 4: This is the fifth straight quarter that Dell's fiscal year
[7:38] Speaker 4: revenue outlook topped estimates.
[7:39] Speaker 2: And Nathan Bloomberg News has learned NVIDIA is in advanced
[7:42] Speaker 2: talks to acquire artificial intelligence startup Hugging Face, the transaction
[7:47] Speaker 2: that may total about $ 14 billion. Buying Hugging Face should
[7:51] Speaker 2: be the biggest move yet in CEO Jensen Wang's push
[7:54] Speaker 2: to broaden the uptake of artificial intelligence and extend his
[7:57] Speaker 2: customer list. The deal would give NVIDIA control of one
[8:00] Speaker 2: of the key platforms where developers showcase and share AI models.
[8:08] Speaker 2: Time now for a look at some of the other
[8:09] Speaker 2: stories making news in New York and around the world.
[8:11] Speaker 2: And for that, we're joined by Bloomberg's Michael Barr.
[8:13] Speaker 1: Michael, good morning.
[8:14] Speaker 12: Good morning, Karen. The Trump administration said it arrested more
[8:17] Speaker 12: than 2,100 immigrants across New York in a month-long operation
[8:22] Speaker 12: dubbed Operation Rotten Apple. Homeland Security Secretary Mark Wayne Mullen
[8:27] Speaker 12: criticized Governor Kathy Hochul and New York City Mayor Zoran
[8:31] Speaker 12: Mamdani over sanctuary policies which limit when local authorities can
[8:36] Speaker 12: cooperate with ICE.
[8:37] Speaker 8: If you're a convicted criminal or not, you're still in
[8:41] Speaker 8: this country legally and it is our job to hunt
[8:44] Speaker 8: you down and to deport you.
[8:46] Speaker 12: Hochul, speaking at a separate event Tuesday, said the state
[8:49] Speaker 12: notifies ICE when undocumented immigrants convicted of crimes are being released.
[8:54] Speaker 3: The facts would confirm that crime has gone down in
[8:59] Speaker 3: all the major categories.
[9:00] Speaker 1: So we are not less safe. We are safer.
[9:03] Speaker 12: Hochul went on to say, we are not a sanctuary
[9:06] Speaker 12: state for criminals. The immigration dispute has spilled into a
[9:10] Speaker 12: parallel fight over federal counterterrorism funding with the Trump administration
[9:15] Speaker 12: withholding $ 87 million from New York. Hochul called that political retaliation.
[9:21] Speaker 12: In Massachusetts, jurors in the Lindsay Clancy trial ended a
[9:24] Speaker 12: fourth day of deliberations without a verdict after saying they
[9:27] Speaker 12: couldn't agree whether Clancy is criminally responsible for killing her
[9:31] Speaker 12: three young children. Yesterday, the jury sent a note to
[9:35] Speaker 12: Judge William Sullivan saying they had been unable to reach
[9:38] Speaker 12: a unanimous decision. He told them to keep trying.
[9:41] Speaker 13: You've come this far. Do not read anything. Don't listen
[9:45] Speaker 13: to anything. Don't talk about this case. We'll come in
[9:48] Speaker 13: tomorrow morning. We'll bring you all in. We'll get you
[9:50] Speaker 13: right back out to resume deliberations.
[9:53] Speaker 12: The jury is expected to resume deliberations today, and if
[9:56] Speaker 12: they can't reach a verdict, a mistrial could be declared.
[10:00] Speaker 12: What used to be Tropical Storm Edouard weakened into a
[10:03] Speaker 12: depression while unleashing heavy rains and strong winds on parts
[10:07] Speaker 12: of Texas. It knocked out power to thousands yesterday and
[10:10] Speaker 12: flooded roads. Global News, 24 hours a day, and whenever
[10:14] Speaker 12: you want it, with Bloomberg News Now. I'm Michael Barr,
[10:16] Speaker 12: and this is Bloomberg, Karen.
[10:19] Speaker 2: Thanks, Michael. Time now for our Bloomberg Sports Update. And
[10:22] Speaker 2: for that, we bring in John Staschauer.
[10:25] Speaker 1: Thanks, Karen.
[10:25] Speaker 14: A near upset at the U.S.
[10:26] Speaker 2: Open.
[10:26] Speaker 14: Alex Zverev is the men's singles top seed. He trailed
[10:30] Speaker 14: two sets to one to Lorenzo Sinego. Zverev rallied back
[10:34] Speaker 14: and won in five sets nearly five hours. Stan Kroenke
[10:37] Speaker 14: already bones the L.A. Rams, the Colorado Avalanche, and now
[10:39] Speaker 14: he's adding the L.A. Angels with a price tag of
[10:43] Speaker 14: $ 4 billion. He's buying the team from Artie Moreno. who
[10:46] Speaker 14: owned them for 23 years, and the Angels struggled to
[10:50] Speaker 14: win during Moreno's time. That's your Bloomberg Sports Update.
[10:54] Speaker 2: Stay with us. More from Bloomberg Daybreak coming up after this.
[11:02] Speaker 10: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
[11:06] Speaker 10: and around the world on Bloomberg.com and the Bloomberg Business App.
[11:11] Speaker 1: This is Bloomberg Daybreak. Good morning.
[11:13] Speaker 4: I'm Nathan Hager, and we are now just two months
[11:15] Speaker 4: away from the November midterm elections. In the latest primary
[11:18] Speaker 4: races in Massachusetts, age might not have been an issue
[11:22] Speaker 4: for Democratic voters backing 80-year-old Senator Ed Markey for a
[11:26] Speaker 4: third term.
[11:27] Speaker 6: Ladies and gentlemen, there is a big blue wave coming
[11:31] Speaker 6: to drown out all those red MAGA hats.
[11:35] Speaker 4: Senator Markey addressing his supporters after he beat 47-year-old Congressman
[11:38] Speaker 4: Seth Moulton 65 to 35 percent. Joining us this morning
[11:43] Speaker 4: after is Jennifer Lawless, politics professor at the University of Virginia.
[11:46] Speaker 4: Great to speak with you as always, Professor. Can Senator
[11:49] Speaker 4: Markey tie himself to the progressive wave we've seen in
[11:53] Speaker 4: states like Michigan and Wisconsin?
[11:55] Speaker 1: Good morning.
[11:56] Speaker 15: Good morning.
[11:57] Speaker 1: I think he can.
[11:58] Speaker 15: He has a progressive record. He's been in the House
[12:01] Speaker 15: and the Senate for a long time. And the thing
[12:04] Speaker 15: that really came across last night was that age is
[12:07] Speaker 15: not disqualifying.
[12:09] Speaker 1: We've seen a lot.
[12:10] Speaker 15: Of older members get defeated, but it seems that at
[12:13] Speaker 15: least in Massachusetts, age alone is not enough to call
[12:17] Speaker 15: into question an incumbent's viability.
[12:19] Speaker 4: And to that point, we saw a couple of veteran
[12:22] Speaker 4: Congress members fend off challenges, though they were from the
[12:26] Speaker 4: progressive wing of the Democratic Party.
[12:29] Speaker 1: What does that say?
[12:30] Speaker 15: I think it tells us that, and we've seen this
[12:32] Speaker 15: across the country from coast to coast, campaigns and primaries
[12:36] Speaker 15: really matter. And constituency service matters. And the relationship you
[12:41] Speaker 15: have with your constituents can protect you or it can
[12:44] Speaker 15: ultimately make you vulnerable. And in Massachusetts last night, incumbents
[12:48] Speaker 15: did well largely because voters were satisfied with them. And
[12:52] Speaker 15: you can't just assume that in one district or in
[12:55] Speaker 15: one state, a challenge that worked in another one is
[12:58] Speaker 15: going to.
[12:59] Speaker 1: Work in your own.
[13:00] Speaker 4: So given the results last night, what do they tell
[13:03] Speaker 4: us about this progressive versus moderate family fight that we're
[13:08] Speaker 4: seeing in the Democratic Party in this midterm cycle?
[13:11] Speaker 15: Well, as I've said before, I'm not sure that it's
[13:13] Speaker 15: a progressive versus moderate fight. I think it's an establishment
[13:17] Speaker 15: versus insurgent fight. And establishment candidates are still on pretty
[13:22] Speaker 15: solid footing as long as they're representing the views of
[13:25] Speaker 15: their constituents. And if their voting record is consistent with
[13:29] Speaker 15: those of the people that they represent, and they're providing
[13:31] Speaker 15: service to those people, then challengers really need a reason
[13:35] Speaker 15: to convince voters that they need to be thrown out.
[13:39] Speaker 1: And in some states, that's worked. And in open seats,
[13:41] Speaker 1: that's certainly been the case.
[13:43] Speaker 15: But overall, even in an election year where we've seen
[13:46] Speaker 15: an anti-income sentiment, it's not in and of itself enough.
[13:50] Speaker 1: We've got about a minute left here.
[13:51] Speaker 4: There have also been questions about the polling on the
[13:54] Speaker 4: Democratic side in this cycle. In past races, it's kind
[13:59] Speaker 4: of come out wrong. This time, it seemed to be
[14:02] Speaker 4: bang in line. What does that tell us about where
[14:04] Speaker 4: the polling could go as we get closer to November?
[14:08] Speaker 1: Well, I think polls tell us a lot.
[14:09] Speaker 15: They tell us who's up at a particular point in
[14:12] Speaker 15: time among the people who actually responded to that poll.
[14:16] Speaker 15: Whether we can generalize from one poll to the broader
[14:18] Speaker 15: electorate is tricky. Being able to identify who the electorate
[14:23] Speaker 15: will be is difficult, especially in a primary. We tend
[14:26] Speaker 15: to do better in general elections. So last night's polls
[14:28] Speaker 15: were right on track. The general election polls will probably
[14:31] Speaker 15: be a little bit more accurate than a But still,
[14:36] Speaker 15: one of the best things to look at overall is
[14:39] Speaker 15: the national trend. And Democrats seem to be up in
[14:41] Speaker 15: the generic ballot.
[14:44] Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
[14:48] Speaker 2: making news from Wall Street to Washington and beyond.
[14:51] Speaker 4: Look for us on your podcast feed by 6 a.m.
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[14:57] Speaker 2: You can also listen live each morning starting at 5 a.m.
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[15:31] Speaker 1: And I'm Nathan Hager.
[15:32] Speaker 4: Join us again tomorrow morning for all the news you
[15:34] Speaker 4: need to start your day right here on Bloomberg Daybreak.

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