News when you want it with Bloomberg News now.

I'm Monica Rix.

Vice president J.D.

Vance is in Pakistan now, leading a U.S.

delegation in high stakes ceasefire talks with Iran.

Bloomberg's Pakistan bureau chief, Faseeh Mangi, is there.

Pakistan is on a diplomatic high right now.

It has good relations with everyone.

It doesn't have an American base as well.

And that makes it acceptable for Iranians to come and have a discussion as well.

Bloomberg's Faseeh Mangion Bloomberg this weekend, special

envoy Steve Wycoff and Jared Kushner are with Vance for negotiations.

And President Trump has already warned that the U.S.

will resume military action with more intensity if a deal isn't reached.

Meantime, attacks continue in the Middle East.

Earlier today, the Israeli army confirmed it's carried out more than 200 strikes

against Hezbollah targets in Lebanon over the past 24 hours.

The Lebanese militant group

has also continued its own strikes across the border.

And now U.S.

intelligence indicates that China is preparing to provide

Iran with air defense systems in a matter of weeks.

CNN reports Beijing is expected to ship surface to air missiles known as Man

portable air defense systems, to Iran, which can be operated

by one person and are easy to transport, conceal and use.

But a spokesperson

for the Chinese embassy in Washington has denied those allegations, saying

China has never provided weapons to any party to the conflict.

Traffic remains at a relative standstill in the Strait of Hormuz

as peace talks get underway.

But the United Nations says it's ready to move ships

the second it gets the green light via a cease fire.

Arsenio Dominguez

is secretary general of the UN's International Maritime Organization.

There has been a couple of days, six or around ten transits,

but they still know the numbers of 130 transits a day.

So the reality is that the situations

for the seafarers continues to be quite tired in the area.

IMO Secretary General Arsenio Dominguez on Bloomberg this weekend.

He says the U.N.

is also working on getting confirmation of possible mines in the strait, but

says that can't be done safely till the conflict ends.

It may be tough to believe, given the war in Iran,

but Wall Street seems to be on a big win streak.

Bloomberg's Andrew O'Dea explains.

The S&P 500 has risen seven trading days in a row, with the latest winds coming

amid hope a ceasefire holds as U.S., Iran and Israel Lebanon talks approach

helping determine whether the market gains keep coming will be any sign

of progress in reopening shipping traffic through the Strait of Hormuz

for any vessels other than those pre-approved by Iran.

Even though Saudi Arabia says oil production capacity has been cut

by nearly 600,000 barrels a day due

to a spate of attacks on energy facilities, pipelines and refineries.

On top of the ongoing disruption to its exports through the Strait

of Hormuz Andrew O’Day Bloomberg Radio nationwide

says a gallon of regular gas has shot up by $1.17 since the war started.

That's a 40% spike in costs, and that added to a big jump in inflation

last month.

The biggest one month increase in four years, up 9/10

percent from February, up 3.3% year over year.

The Federal Reserve is now asking major U.S.

banks for details about their exposure to private credit.

Here's Bloomberg's Ed Kalegi.

It follows a surge in redemptions

from the funds and a rise in troubled loans in the industry.

The queries by fed examiners are intended to assess the level of stress

in the private credit industry, and the potential

for it to spill over to the wider financial system.

The central bank has been seeking details on the debt

private credit funds have taken on from banks in good times

that debt can juice returns and to make private credit funds

more enticing in bad times, it risks exposing banks to losses.

Ed Kalegi Bloomberg Radio.

Meantime, anthropic delayed the full release of its new AI model

mythos this week because the company says it may be too dangerous for the public.

Wall Street banks, including JP

Morgan Chase, are testing it internally now to detect vulnerabilities.

But there's concern among federal regulators about the risk of cyber

attacks to the financial industry and the potential to exploit weaknesses.

Democratic Congressman Eric Swalwell is denying allegations

of sexual misconduct against a former staffer and three other

women, as calls for him to drop out of the California governor's race grow.

He posted this video to X last night.

I do not suggest to you in any way that I'm perfect or that I'm a saint.

I've certainly made mistakes in judgment in my past.

But those mistakes are between me and my wife.

And to her, I apologize deeply for putting her in this position.

Up until now, Swalwell has been a top polling Democrat in that race.

Splashdown confirmed the crew of Artemis two is back on Earth

after completing a nine day journey that included a trip around the moon.

NASA says the four astronauts are safe and healthy and have now set the stage

for Artemis three, which is the next step to put people back on the moon.

And Rory McIlroy heads into round three today at the Masters with a six shot lead

after setting a tournament record yesterday for the largest 36 hole lead.

McIlroy had six birdies over his final seven holes,

including a chip in from 30 yards on the 17th hole.

The reigning champs, now a 12 under one, 32 again

six shots clear of Patrick Reed and Sam Burns.

And that's news when you want it with Bloomberg News now.

I'm Monica Rix and this is Bloomberg.