Iran War: European Nations See Inevitable Hormuz Fees | Daybreak Europe 7/3/2026

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, Global stocks and futures rebound following a two-day selloff led by tech. US markets are closed for the Independence Day holiday.

Weaker than expected jobs data out of the US has challenged expectations that the Fed will raise interest rates this year. Nonfarm payrolls rose 57 thousand last month, well below estimates. Unemployment fell to 4.2% as labor force participation plunged.

And Bloomberg has learned that some leading European powers now accept that ships transiting the Strait of Hormuz will have to pay fees to Iran and Oman. The US and Gulf Arab countries continue to insist that Iran and Oman cannot impose charges of any kind.

Today’s guest: Marianne Zangerl, Aberdeen, Global Head of Multi-Asset & Alternative Investment Solutions.

Chapters:
00:00:00 – Daybreak Europe
00:03:09 – Asia Stocks Rebound After Tech-Led Selloff
00:07:01 – Softer US Job Gains in June to Keep Fed on Hold in July
00:09:52 – Trump Admin. Sees Opportunity in Atlanta Fed Vacancy
00:12:31 – US Futures Point to Rebound After Tech Selling
00:17:13 – European Nations Now Said to Believe Some Hormuz Fees are Inevitable
00:19:52 – Iran’s Floating Oil Hoard Swells
00:22:34 – Cuba Seen as Strategic Platform for US Rivals
00:26:38 – Burnham Insists He Will Be Disciplined with UK Public Finances
00:29:25 – Private Credit Managers Facing Relentless Wave of Redemption Requests
00:33:17 – Dow Hits Record High After Jobs Report
00:34:19 – Marianne Zangerl, Aberdeen, Global Head of Multi-Asset & Alternative Investment Solutions
00:41:48 – Lagarde: ECB Was Right to Raise Interest Rates
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