Iran War: Trump Says New Talks to Begin | Daybreak Europe 8/3/2026

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, the US President says new talks with Iran are set to begin after he cancelled a planned attack. Oil tumbled and bonds gained on hopes for a deal to reopen the Strait of Hormuz. Iran says it’s in the final stages of talks with Oman on a new route through the Strait, but the talks don’t cover whether it will be open or closed.

Japan and the US warned of further coordinated action in FX markets, after confirming their first joint intervention in 15 years to lift the Japanese currency from a near four-decade low.

And Bloomberg understands that AstraZeneca has looked into an acquisition of Bristol Myers Squibb in a megadeal that would create one of the world’s largest drugmakers.

Today’s guest: Ludovic Subran, Allianz, CIO & Chief Economist.

Chapters:
00:00:00 – Daybreak Europe
00:01:08 – Oil Falls on Optimism for US-Iran Deal, Yen Gains
00:06:29 – Oil Slumps as Trump Holds Off Iran Attack, Says Talks to Resume
00:09:23 – Yen Rises Amid Speculation of More Intervention After US Support
00:12:40 – AstraZeneca Is Said to Have Explored Bristol Myers Merger 
00:20:44 – Europe’s Key Rivers are Drying up Due to Extreme Heat
00:23:08 – US and Japan Move to Transform Yen Landscape With Joint Action
00:24:57 – Trump Says Iran Talks to Begin Monday After Scrapping Attack
00:28:33 – Ludovic Subran, Allianz, CIO & Chief Economist
00:32:46 – European Earnings Week Ahead
00:43:29 – US & Japan Warn of Further Intervention
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