Iran War: Trump Rejects Hormuz Tolls | Daybreak Europe 05/22/2026

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 says tolls on the Strait of Hormuz would be unacceptable, after Iran said it’s working with Oman to formalize its control of the Strait. Stocks have been resilient on optimism that a deal to end the war is on the horizon. But conflicting statements from the US and Iran saw Brent crude gaining after three days of declines.

Kevin Warsh is due to be sworn in as Chair of the Federal Reserve, just as soaring Treasury yields cloud the outlook for interest rates.

And there’s political turmoil in Turkey after a court removed the leader of the main opposition Republican People’s Party. The move sent stocks plummeting on Thursday, and led to state intervention to defend the lira.

Today’s guests: Modupe Adegbembo, Jefferies, Economist; Tobias Adrian, International Monetary Fund, Financial Counsellor and Monetary & Capital Markets Department Director.

Chapters:
00:00:00 – Daybreak Europe
00:02:54 – Asia Stocks Rise Led by Tech
00:05:28 – Progress in Iran Talks Undercut Over Uranium, Hormuz Tolls
00:09:24 – Court Ousts Leader of Turkey’s Main Opposition Party
00:13:09 – Kevin Warsh to be Sworn in as Fed Chair
00:15:09 – Euro-Area Growth Succumbs to Iran War
00:20:18 – Reeves to Cut VAT on British Summer Attractions
00:33:12 – Tobias Adrian, IMF Financial Counsellor
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