War Is Calling. Will Trump Pick Up?
Opinion Newsletter
Jessica Karl, Columnist
Save
This is Bloomberg Opinion Today, where humans learn how to navigate the disagreements of Bloomberg Opinion's opinions. Sign up here.
Here's a question with no easy answers: Why is Israel waging a war with Iran? Is it because it wants to ...
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNN
21 minutes ago
- CNN
Live updates: Israel-Iran conflict, ballistic missile attacks, Trump weighs US involvement
Update: Date: 6 min ago Title: As the Iran-Israel conflict continues, Trump reviews US options. Here's what you should know Content: Iran and Israel continue to trade strikes as President Donald Trump's decision on whether the US would get involved looms large. Trump has reviewed attack plans for Iran but is holding off to see if Tehran steps back from its nuclear program, a person familiar with the matter told CNN. Israeli Prime Minister Benjamin Netanyahu thanked Trump for 'standing by our side' as Israel pushes ahead with its fight against Iran. The US on Wednesday evacuated some embassy personnel and family members from Israel on a US military aircraft, three sources told CNN. The US Embassy in Israel said in its latest security alert Thursday local time that it has 'no announcement about assisting private U.S. citizens to depart at this time.' This came hours after US Ambassador Mike Huckabee said on X that the embassy was 'working on evacuation flights & cruise ship departures.' Here are the key headlines from Wednesday: CNN's Alejandra Jaramillo, Mohammed Tawfeeq, Jeremy Diamond, Tamar Michaelis, Gianluca Mezzofiore, Catherine Nicholls, Michael Rios, Jennifer Hansler, Oren Liebermann, Kylie Atwood and Hira Humayun contributed reporting. Update: Date: 1 min ago Title: Israeli envoy to US says Iran's ability to produce ballistic weapons must also be eliminated Content: Israel's ambassador to the US said Wednesday that Israel must eliminate not only Iran's ability to make nuclear weapons, but also its ability to produce ballistic missiles. 'They come cruising out of the sky and create incredible damage,' Yechiel Leiter told CNN's Kaitlan Collins, referring to Iran's missiles. 'That production capacity has to be eliminated as well.' 'They cannot have the weapons that can destroy Israel, which they claim and which they want to do every day,' he added. Asked about Israel's ability to destroy Iran's Fordow nuclear enrichment site, buried deep under a mountain near the city of Qom, Leiter said 'it might require multiple strikes, it might require something else or it might require one of our surprises,' without going into details. 'We have a few tricks up our sleeves,' he said, when asked about Israel's response if the US were not to get involved in the conflict. 'If we have to pursue this and prosecute this by ourselves, we're going to know what to do. We're not going to allow Iran to have a nuclear weapon,' he told Collins. Update: Date: 7 min ago Title: Trump has reviewed attack plans but is holding off to see if Iran steps back from nuclear program, source says Content: US President Donald Trump has reviewed attack plans for Iran but is holding off to see if Tehran steps back from its nuclear program, a person familiar with the matter told CNN. The plans were among an array of options the president's military advisers discussed with him in the Situation Room this week, though officials stressed no decision has been made, as Trump said publicly on Wednesday. 'I have ideas as to what to do, but I haven't made a final — I like to make the final decision one second before it's due, you know, because things change. I mean, especially with war, things change with war. It can go from one extreme to the other,' he told CNN's Kaitlan Collins in the Oval Office. 'As President Trump said himself today, all options remain on the table,' a White House official said Wednesday. CNN reported Tuesday that Trump was growing increasingly receptive to using US military assets to strike Iran's nuclear facilities. On Wednesday, CNN reported that discussions were underway among his top officials over how the US could do so without becoming embroiled in a full-scale war.
Yahoo
an hour ago
- Yahoo
Dollar Rallies as Middle East Tensions Intensify and Stocks Fall
The dollar index (DXY00) Tuesday rose by +0.83%. The dollar moved higher on Tuesday on an increase in liquidity demand for the dollar as stocks fell after President Trump downplayed the chance of an early end to the Israel-Iran war and said he wants "unconditional surrender" from Iran. Gains in the dollar accelerated Tuesday afternoon on an increase in safe-haven demand as President Trump was set to meet his national security team, fueling speculation that the US may be on the verge of joining the attack against Iran. The dollar rallied Tuesday despite weaker-than-expected US retail sales and NAHB housing market reports. The dollar continues to be undercut by expectations of weaker US economic growth and reduced foreign investment in the US caused by President Trump's tariffs. Dollar Rallies as Middle East Tensions Intensify and Stocks Fall Weak Stocks Boost Liquidity Demand for the Dollar Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. US May retail sales fell -0.9% m/m, weaker than expectations of -0.6% m/m. May retail sales ex-autos unexpectedly fell -0.3% m/m versus expectations of a +0.2% m/m increase. The US May import price index ex-petroleum rose +0.2% m/m, slightly stronger than expectations of +0.1% m/m. The US June NAHB housing market index unexpectedly fell -2 to a 2-1/2 year low of 32, weaker than expectations of an increase to 36. President Trump played down the chance of a ceasefire in the Israel-Iran war when he said that he hasn't reached out to Iran for peace talks "in any way, shape or form" and that a "permanent end and not a ceasefire" to the nuclear dispute with Iran would be the goal. The markets are discounting the chances at 0% for a -25 bp rate cut after the Tue-Wed FOMC meeting. EUR/USD (^EURUSD) Tuesday fell by -0.72%. The euro retreated Tuesday due to a stronger dollar. Also, dovish comments Tuesday from ECB Governing Council member Stournaras weighed on the euro when he said the ECB may proceed with additional interest rate cuts if economic growth and inflation slow more than expected. The euro fell despite the German June ZEW survey expectations of economic growth climbing more than expected. The German June ZEW survey expectations of economic growth index rose +22.3 to 47.5, stronger than expectations of 35.0. ECB Governing Council member Stournaras said the ECB has found "equilibrium" on interest rates, inflation, and economic growth, but "if the Eurozone economy weakens further, if inflation decreases further below the target, then we may proceed to further rate cuts." Swaps are discounting the chances at 6% for a -25 bp rate cut by the ECB at the July 24 policy meeting. USD/JPY (^USDJPY) Tuesday rose by +0.42%. The yen on Tuesday gave up overnight gains and turned lower after the BOJ kept interest rates unchanged as expected and after BOJ Governor Ueda said he couldn't comment on the possibility of a rate hike coming in the near term. The yen initially moved higher against the dollar Tuesday on increased safe-haven demand after President Trump downplayed the possibility of an early end to the Israel-Iran war. Also, Tuesday's action by the BOJ to cut its bond purchases for Q3 was supportive of the yen. In addition, lower T-note yields on Tuesday are bullish for the yen. As expected, the BOJ voted 9-0 to keep its benchmark interest rate unchanged at 0.50% and voted to cut its Q3 monthly bond purchases to 3.705 trillion yen from 4.105 trillion yen in Q2. The BOJ also announced it will trim its monthly bond purchases from April 2026 at a quarterly pace of 200 billion yen ($1.3 billion) from the current 400 billion yen. BOJ Governor Ueda said he can't comment on the possibility of a rate hike coming in the near term, and any move in interest rates will hinge on the BOJ's assessment of the economic data. August gold (GCQ25) Tuesday closed down -10.40 (-0.30%), and July silver (SIN25) closed up +0.703 (+1.93%). Precious metals on Tuesday settled mixed, with silver soaring to a 13-year high. Tuesday's dollar strength was negative for precious metals. Gold prices were also pressured after the BOJ announced it was cutting its bond purchases for Q3. Precious metals have safe-haven support from Middle East hostilities after President Trump today downplayed the chance of an early end to the Israel-Iran war and said he wants "unconditional surrender" from Iran. Also, lower global bond yields Tuesday were supportive of precious metals. In addition, global trade uncertainty is boosting safe-haven demand for precious metals after President Trump indicated last Wednesday that he is moving ahead with his reciprocal tariffs. Gold garnered some support Tuesday as an inflation hedge after the US 10-year breakeven inflation rate rose to a 1-week high. Silver garnered support Tuesday after US May manufacturing production rose as expected, and after the German Jun ZEW survey expectations of economic growth rose more than expected, positive factors for industrial metals demand. Silver prices added to their gains Tuesday on technical buying after prices posted a new 13-year high. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Magazine
an hour ago
- Time Magazine
Narges Bajoghli
Bajoghli is an Associate Professor of Anthropology and Middle East Studies at the School of Advanced International Studies, John Hopkins University. She is the author of ' Iran Reframed: Anxieties of Power in the Islamic Republic,' and co-author of ' How Sanctions Work: Iran and the Impact of Economic Warfare. '
