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Trump Says Iran Violated Ceasefire | Balance of Power 6/26/2026

Watch on YouTube ↗  |  June 26, 2026 at 20:37  |  47:56  |  Bloomberg Markets
Speakers
Kailey Leinz — Bloomberg Reporter
David Westin — Host, Bloomberg Wall Street Week
Neel Kashkari — President of the Federal Reserve Bank of Minneapolis
Amy Morris — Bloomberg Market Reporter
Robert McWhirter — Constitutional lawyer

Summary

The show covers President Trump's accusation that Iran violated the Strait of Hormuz ceasefire, yet oil prices slide as markets grow complacent. David Westin warns USMCA renegotiation threatens U.S. corn exports and farmers. Neel Kashkari signals one more rate hike in 2026 due to persistent inflation. Other topics: Trump threatens 100% tariff on digital services taxes, Congress deadlocks over war funding and the Save America Act, John Bolton's guilty plea, and Supreme Court rulings on immigration.

  • Oil ignores Iran drone attack, WTI falls to $69 as Strait transits accelerate.
  • USMCA uncertainty raises risk for U.S. corn exports to Mexico and Canada.
  • Trump threatens 100% tariff on countries imposing digital services taxes.
  • Congress freezes floor business, supplemental war funding remains stalled.
  • Kashkari pencils in one rate increase this year, inflation remains elevated.
  • John Bolton pleads guilty to retaining classified material; sentencing ahead.
  • Supreme Court allows deportations of hundreds of thousands from crisis countries.
  • Birthright citizenship case waiting on final opinion, expected to uphold 14th Amendment.
Ideas
Kailey Leinz Bloomberg Reporter 1:08
Oil falls as risk premium evaporates
Oil prices are falling sharply even after President Trump accused Iran of violating the ceasefire with a drone attack in the Strait of Hormuz, because the market has learned to live with the tensions. Record daily transit volumes of 19 million barrels, the reopening of the strait, and a perception that the conflict will not escalate further have erased the risk premium and are driving WTI down to $69 and Brent down over 4%.
WTI BNO MED
David Westin Host, Bloomberg Wall Street Week 23:38
USMCA renegotiation threatens corn exports
USMCA renegotiation poses a serious risk to U.S. corn exports, as Mexico is the largest export market for U.S. corn and Canadian/Mexican markets replaced China as the top destination for U.S. agriculture. Farmers warn that losing these export markets would be devastating, and the talks are making the auto, energy and especially agriculture sectors very nervous.
CORN MED
Neel Kashkari President of the Federal Reserve Bank of Minneapolis 33:53
Fed to hike once more in 2026
Inflation remains elevated through the end of the year, and signs of widespread price pressures led him to pencil in one interest rate increase for the year. He is concerned about getting inflation back to 2% without damaging the economy, implying further monetary tightening.
U.S. 2-Year Treasury Notes HIGH
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This Bloomberg Markets video, published June 26, 2026, features Kailey Leinz, David Westin, Neel Kashkari discussing WTI, BNO, CORN, U.S. 2-Year Treasury Notes. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kailey Leinz, David Westin, Neel Kashkari  · Tickers: WTI, BNO, CORN, U.S. 2-Year Treasury Notes