RUSH TRANSCRIPT We re ░░░░░░░░ More record highs in ░░░░░░░░ S P 500 heading ░░░░░░░░ its first closing high ░░░░░░░░ two weeks The dow ░░░░░░░░ its second record close ░░░░░░░░ a row today Looks ░░░░░░░░ it s going to ░░░░░░░░ that Here to share ░░░░░░░░ he is positioning after ░░░░░░░░ this roar his recent ░░░░░░░░ trying to read this ░░░░░░░░ partners founding principal and ░░░░░░░░ rich saperstein Cut to ░░░░░░░░ at the right time ░░░░░░░░ off me Fumbling all ░░░░░░░░ How are you doing ░░░░░░░░ well Feeling good about ░░░░░░░░ market I am More ░░░░░░░░ than before the election ░░░░░░░░ things for you Well ░░░░░░░░ fundamentals are solid strong ░░░░░░░░ growth full employment accommodative ░░░░░░░░ declining inflation and the ░░░░░░░░ bump right now will ░░░░░░░░ to uncertainty Lead to ░░░░░░░░ Yeah It s going ░░░░░░░░ lead to more volatility ░░░░░░░░ lots of uncertainty about ░░░░░░░░ whether it s going ░░░░░░░░ be higher or lower ░░░░░░░░ what s reflected in ░░░░░░░░ market Inflationary impact trade ░░░░░░░░ earnings impact So expect ░░░░░░░░ years of increased vol ░░░░░░░░ the last four years ░░░░░░░░ about returns I think ░░░░░░░░ are going to be ░░░░░░░░ because fundamentals are solid ░░░░░░░░ we re going to ░░░░░░░░ rising earnings You got ░░░░░░░░ 266 on the S ░░░░░░░░ 500 earnings for next ░░░░░░░░ which is a 10 ░░░░░░░░ It is doable I ░░░░░░░░ the environment is generally ░░░░░░░░ with deregulation more m ░░░░░░░░ and lots of activity ░░░░░░░░ occur next year You ░░░░░░░░ a highly accomplished former ░░░░░░░░ fund manager as Treasury ░░░░░░░░ Part has been the ░░░░░░░░ bounce since it was ░░░░░░░░ clear he was going ░░░░░░░░ be the one The ░░░░░░░░ seems to like that ░░░░░░░░ think the larger impact ░░░░░░░░ realized in the bond ░░░░░░░░ where from the last ░░░░░░░░ meeting September 18th bonds ░░░░░░░░ were up 80 basis ░░░░░░░░ Backed up a lot ░░░░░░░░ when bessent was announced ░░░░░░░░ of a sudden market ░░░░░░░░ rates dropped 15 basis ░░░░░░░░ So that s an ░░░░░░░░ that the long end ░░░░░░░░ the market is less ░░░░░░░░ about you know a ░░░░░░░░ fiscal deficit and prolific ░░░░░░░░ and more bond issuance ░░░░░░░░ higher inflation so it ░░░░░░░░ a sign that the ░░░░░░░░ market vigil antis are ░░░░░░░░ down A shot of ░░░░░░░░ Rose Garden here We ░░░░░░░░ been awaiting President Biden ░░░░░░░░ make remarks about a ░░░░░░░░ fire deal Good news ░░░░░░░░ report from the Middle ░░░░░░░░ I just spoke with ░░░░░░░░ prime minister of Israel ░░░░░░░░ Lebanon I m pleased ░░░░░░░░ announce that their governments ░░░░░░░░ accepted the United States ░░░░░░░░ to end the devastating ░░░░░░░░ between Israel and Hezbollah ░░░░░░░░ want to thank president ░░░░░░░░ of France for his ░░░░░░░░ in reaching this moment ░░░░░░░░ nearly 14 months a ░░░░░░░░ conflict raged across the ░░░░░░░░ that separates Israel and ░░░░░░░░ A conflict that began ░░░░░░░░ day after the October ░░░░░░░░ attack by Hamas and ░░░░░░░░ Hours later at 2 ░░░░░░░░ A M in the ░░░░░░░░ Hezbollah and other terrorist ░░░░░░░░ backed by Iran attacked ░░░░░░░░ in support of Hamas ░░░░░░░░ s be clear Israel ░░░░░░░░ not launch this war ░░░░░░░░ lebanese people did not ░░░░░░░░ that war either Nor ░░░░░░░░ the United States Over ░░░░░░░░ past year including the ░░░░░░░░ immediately following October 7th ░░░░░░░░ directed the U S ░░░░░░░░ to flow assets and ░░░░░░░░ into the region including ░░░░░░░░ carriers fighter squadrons and ░░░░░░░░ air defense battery to ░░░░░░░░ Israel and to deter ░░░░░░░░ common enemy at a ░░░░░░░░ moments Since the war ░░░░░░░░ Hezbollah began over 70 ░░░░░░░░ Israeli have been forced ░░░░░░░░ live in refugee live ░░░░░░░░ refugees in their own ░░░░░░░░ Helplessly watching their homes ░░░░░░░░ business their communities as ░░░░░░░░ were bombarded and destroyed ░░░░░░░░ over 300 000 lebanese ░░░░░░░░ have also been forced ░░░░░░░░ live as refugees in ░░░░░░░░ own country A war ░░░░░░░░ on them by Hezbollah ░░░░░░░░ told this has been ░░░░░░░░ deadliest conflict between Israel ░░░░░░░░ Hezbollah in decades How ░░░░░░░░ of Hezbollah senior leaders ░░░░░░░░ dead including its long ░░░░░░░░ leader nasrallah And Israel ░░░░░░░░ the infrastructure in southern ░░░░░░░░ including miles of sophisticated ░░░░░░░░ which were prepped for ░░░░░░░░ October 7th style attack ░░░░░░░░ northern Israel But lasting ░░░░░░░░ for the people of ░░░░░░░░ and Lebanon cannot be ░░░░░░░░ only on the battlefield ░░░░░░░░ s why I directed ░░░░░░░░ team to work with ░░░░░░░░ governments of Israel and ░░░░░░░░ to forge a cease ░░░░░░░░ to bring a conflict ░░░░░░░░ Israel and Hezbollah to ░░░░░░░░ close Under the deal ░░░░░░░░ today effective at 4 ░░░░░░░░ A M tomorrow local ░░░░░░░░ the fighting across the ░░░░░░░░ Israeli border will end ░░░░░░░░ end This is designed ░░░░░░░░ be a permanent cessation ░░░░░░░░ hostilities What is left ░░░░░░░░ Hezbollah and other terrorist ░░░░░░░░ will not be allowed ░░░░░░░░ not be allowed to ░░░░░░░░ the security of Israel ░░░░░░░░ Over the next 60 ░░░░░░░░ the lebanese army and ░░░░░░░░ security forces will deploy ░░░░░░░░ take control of their ░░░░░░░░ territory once again Hezbollah ░░░░░░░░ infrastructure in southern Lebanon ░░░░░░░░ not be allowed to ░░░░░░░░ rebuilt Over the next ░░░░░░░░ days Israel will gradually ░░░░░░░░ its remaining forces and ░░░░░░░░ on both sides will ░░░░░░░░ be able to safely ░░░░░░░░ to their communities And ░░░░░░░░ to rebuild their homes ░░░░░░░░ schools their farms their ░░░░░░░░ and their very lives ░░░░░░░░ re determined this conflict ░░░░░░░░ not be just another ░░░░░░░░ of violence and so ░░░░░░░░ United States with the ░░░░░░░░ support of France and ░░░░░░░░ other allies has pledged ░░░░░░░░ work with Israel and ░░░░░░░░ to ensure that they ░░░░░░░░ arrangement is fully implemented ░░░░░░░░ the agreement totally implemented ░░░░░░░░ will be no U ░░░░░░░░ troops deployed in southern ░░░░░░░░ This is consistent with ░░░░░░░░ commitment to the American ░░░░░░░░ to not put U ░░░░░░░░ troops in combat in ░░░░░░░░ conflict Instead we along ░░░░░░░░ France and other will ░░░░░░░░ the necessary assistance to ░░░░░░░░ sure this deal is ░░░░░░░░ fully and effectively Let ░░░░░░░░ be clear if Hezbollah ░░░░░░░░ anyone else breaks the ░░░░░░░░ and poses a direct ░░░░░░░░ to Israel Israel retains ░░░░░░░░ right to self defense ░░░░░░░░ with international law Just ░░░░░░░░ any country when facing ░░░░░░░░ terrorist group pledged with ░░░░░░░░ country s destruction At ░░░░░░░░ same time this deal ░░░░░░░░ Lebanon s sovereignty and ░░░░░░░░ it heralds a new ░░░░░░░░ for Lebanon a country ░░░░░░░░ ve seen most of ░░░░░░░░ the years with rich ░░░░░░░░ and culture fully implemented ░░░░░░░░ deal can put Lebanon ░░░░░░░░ a path toward a ░░░░░░░░ that s worthy of ░░░░░░░░ significant past Just as ░░░░░░░░ lebanese people deserve a ░░░░░░░░ of security and prosperity ░░░░░░░░ do the people of ░░░░░░░░ They too deserve an ░░░░░░░░ to the fighting and ░░░░░░░░ People of Gaza have ░░░░░░░░ through hell Their words ░░░░░░░░ world is absolutely shattered ░░░░░░░░ too many civilians in ░░░░░░░░ have suffered far too ░░░░░░░░ and Hamas has refused ░░░░░░░░ months and months to ░░░░░░░░ a good faith cease ░░░░░░░░ and hostage deal Now ░░░░░░░░ has a choice to ░░░░░░░░ Their only way out ░░░░░░░░ to release the hostages ░░░░░░░░ American citizens which they ░░░░░░░░ In the process bring ░░░░░░░░ end to the fighting ░░░░░░░░ would make possible a ░░░░░░░░ of humanitarian relief Over ░░░░░░░░ coming days the United ░░░░░░░░ will make another push ░░░░░░░░ Turkey equip Qatar Israel ░░░░░░░░ others to achieve a ░░░░░░░░ fire in Gaza the ░░░░░░░░ released and end the ░░░░░░░░ without Hamas in power ░░░░░░░░ becomes possible As for ░░░░░░░░ broader midwest region today ░░░░░░░░ announcement brings us closer ░░░░░░░░ realizing the affirmative agenda ░░░░░░░░ I ve been pushing ░░░░░░░░ during my entire presidency ░░░░░░░░ vision for the future ░░░░░░░░ the Middle East where ░░░░░░░░ s at peace and ░░░░░░░░ and integrated across borders ░░░░░░░░ future where palestines have ░░░░░░░░ state of their own ░░░░░░░░ that feels aspirations one ░░░░░░░░ cannot threaten Israel or ░░░░░░░░ terrorist groups with backing ░░░░░░░░ Iran Future Israelis and ░░░░░░░░ enjoy equal measures of ░░░░░░░░ prosperity and dignity To ░░░░░░░░ end the United States ░░░░░░░░ prepared to conclude a ░░░░░░░░ of historic deals with ░░░░░░░░ Arabia to include a ░░░░░░░░ pact and economic assurance ░░░░░░░░ with the credible pathway ░░░░░░░░ establishing a Palestinian state ░░░░░░░░ the full the full ░░░░░░░░ of relations between Saudi ░░░░░░░░ and Israel It s ░░░░░░░░ desire they both have ░░░░░░░░ believe this agenda remains ░░░░░░░░ and in my remaining ░░░░░░░░ in office I ll ░░░░░░░░ tirelessly to advance the ░░░░░░░░ for an integrated secure ░░░░░░░░ prosperous region all of ░░░░░░░░ strengthens America s national ░░░░░░░░ Getting all this done ░░░░░░░░ require making some hard ░░░░░░░░ Israel has been bold ░░░░░░░░ the battlefield Iran and ░░░░░░░░ proxies have paid a ░░░░░░░░ heavy price Now Israel ░░░░░░░░ be bold in turning ░░░░░░░░ gains against Iran and ░░░░░░░░ proxies into a coherent ░░░░░░░░ that secure Israel s ░░░░░░░░ term safety and advances ░░░░░░░░ broader peace and prosperity ░░░░░░░░ the region Today s ░░░░░░░░ is a critical step ░░░░░░░░ advancing that vision And ░░░░░░░░ I applaud the decision ░░░░░░░░ by the leaders of ░░░░░░░░ and Israel to end ░░░░░░░░ violence It reminds us ░░░░░░░░ peace is possible Say ░░░░░░░░ again Peace is possible ░░░░░░░░ long as that is ░░░░░░░░ case I ll not ░░░░░░░░ a single moment stop ░░░░░░░░ to achieve it God ░░░░░░░░ you all Sorry to ░░░░░░░░ you waiting so long ░░░░░░░░ god protect our troops ░░░░░░░░ you President Biden in ░░░░░░░░ Rose Garden as why ░░░░░░░░ saw announcing that cease ░░░░░░░░ deal between Israel and ░░░░░░░░ 4 00 A M ░░░░░░░░ time it will be ░░░░░░░░ tomorrow in Lebanon 60 ░░░░░░░░ permitted for the full ░░░░░░░░ of Israeli forces the ░░░░░░░░ of which will be ░░░░░░░░ within the next 10 ░░░░░░░░ and France will help ░░░░░░░░ the implementation of this ░░░░░░░░ Javers is watching it ░░░░░░░░ Washington and joins us ░░░░░░░░ Scott you heard the ░░░░░░░░ there talking about the ░░░░░░░░ apologizing for a delay ░░░░░░░░ reason for that might ░░░░░░░░ the statement that we ░░░░░░░░ got from Israel saying ░░░░░░░░ the political security cabinet ░░░░░░░░ the U S cease ░░░░░░░░ arrangement by a majority ░░░░░░░░ 10 minters to one ░░░░░░░░ appreciates the U S ░░░░░░░░ to the process reserves ░░░░░░░░ right to act against ░░░░░░░░ threat to its security ░░░░░░░░ be the delay was ░░░░░░░░ for that vote in ░░░░░░░░ to make sure this ░░░░░░░░ officially official and now ░░░░░░░░ is Scott I ve ░░░░░░░░ texting with a former ░░░░░░░░ station chief in the ░░░░░░░░ to get a sense ░░░░░░░░ what the analysis is ░░░░░░░░ this deal A couple ░░░░░░░░ to make there One ░░░░░░░░ that the Israelis will ░░░░░░░░ m told do what ░░░░░░░░ need to do here ░░░░░░░░ the existence of a ░░░░░░░░ fire that includes potential ░░░░░░░░ I a tax on ░░░░░░░░ resupply evident out of ░░░░░░░░ or other countries in ░░░░░░░░ region such as Iran ░░░░░░░░ it also raises the ░░░░░░░░ as you heard the ░░░░░░░░ mention there of what ░░░░░░░░ now in Gaza This ░░░░░░░░ a first step in ░░░░░░░░ multistep process that might ░░░░░░░░ over the course of ░░░░░░░░ consecutive and die ametrically ░░░░░░░░ administrations Now for the ░░░░░░░░ Trump team and outgoing ░░░░░░░░ team can they get ░░░░░░░░ deal over the line ░░░░░░░░ a cease fire in ░░░░░░░░ as well and what ░░░░░░░░ the implications for that ░░░░░░░░ s the piece we ░░░░░░░░ t know Of course ░░░░░░░░ fate of those hostages ░░░░░░░░ in the balance there ░░░░░░░░ well Back over to ░░░░░░░░ Do we have any ░░░░░░░░ from transition team Trump ░░░░░░░░ this deal Not yet ░░░░░░░░ I think we will ░░░░░░░░ it very soon If ░░░░░░░░ re Donald Trump you ░░░░░░░░ he very much wanted ░░░░░░░░ be the person to ░░░░░░░░ a big announcement here ░░░░░░░░ this He wants to ░░░░░░░░ seen as the guy ░░░░░░░░ can do the deal ░░░░░░░░ the Middle East They ░░░░░░░░ proud in the Trump ░░░░░░░░ of the Abraham Accords ░░░░░░░░ to the first Trump ░░░░░░░░ Trump sees himself as ░░░░░░░░ who can bring a ░░░░░░░░ of peace here and ░░░░░░░░ of the strength of ░░░░░░░░ ties with Benjamin Netanyahu ░░░░░░░░ might have the sort ░░░░░░░░ only Nixon can go ░░░░░░░░ China credibility to get ░░░░░░░░ deal done there This ░░░░░░░░ of politically in terms ░░░░░░░░ political credit if you ░░░░░░░░ to look at it ░░░░░░░░ those crass terms does ░░░░░░░░ Trump of some of ░░░░░░░░ ability to take credit ░░░░░░░░ this piece of it ░░░░░░░░ lebanese cease fire But ░░░░░░░░ big Gaza piece remains ░░░░░░░░ there Eamon Javers in ░░░░░░░░ with the latest for ░░░░░░░░ there Rich saperstein has ░░░░░░░░ with us watching all ░░░░░░░░ this unfold One of ░░░░░░░░ risks we haven t ░░░░░░░░ that much geopolitical moving ░░░░░░░░ a new year so ░░░░░░░░ optimism about the domestic ░░░░░░░░ we haven t focused ░░░░░░░░ much investors seemingly haven ░░░░░░░░ on issues that may ░░░░░░░░ across borders Yeah What ░░░░░░░░ interesting is that with ░░░░░░░░ two wars that were ░░░░░░░░ on oil prices really ░░░░░░░░ been subdued and so ░░░░░░░░ would have thought that ░░░░░░░░ increased global geopolitical tensions ░░░░░░░░ would see rising oil ░░░░░░░░ and weak stock market ░░░░░░░░ it s clearly moved ░░░░░░░░ past that given the ░░░░░░░░ we re experiencing Areas ░░░░░░░░ like the most are ░░░░░░░░ the ones that have ░░░░░░░░ really picking up since ░░░░░░░░ election the cyclicals financials ░░░░░░░░ We talk financials every ░░░░░░░░ and they ve been ░░░░░░░░ new highs almost every ░░░░░░░░ The ones that have ░░░░░░░░ in a little bit ░░░░░░░░ a slumber Big Tech ░░░░░░░░ We own Big Tech ░░░░░░░░ look at Google as ░░░░░░░░ the most attractive right ░░░░░░░░ It will be a ░░░░░░░░ out and we add ░░░░░░░░ right now You still ░░░░░░░░ Yeah Most recent one ░░░░░░░░ which it s a ░░░░░░░░ billion company with 2 ░░░░░░░░ billion operating cash flow ░░░░░░░░ 21 locations where they ░░░░░░░░ co locate any type ░░░░░░░░ large electricity demand So ░░░░░░░░ s great opportunity still ░░░░░░░░ the utility sector which ░░░░░░░░ do well in 2025 ░░░░░░░░ love munis Oh yeah ░░░░░░░░ getting off that train ░░░░░░░░ TRANSCRIPT We re back ░░░░░░░░ record highs in sight ░░░░░░░░ P 500 heading for ░░░░░░░░ first closing high in ░░░░░░░░ weeks The dow setting ░░░░░░░░ second record close in ░░░░░░░░ row today Looks like ░░░░░░░░ s going to do ░░░░░░░░ Here to share how ░░░░░░░░ is positioning after his ░░░░░░░░ roar his recent run ░░░░░░░░ to read this treasury ░░░░░░░░ founding principal and cio ░░░░░░░░ saperstein Cut to you ░░░░░░░░ the right time camera ░░░░░░░░ me Fumbling all this ░░░░░░░░ are you doing Doing ░░░░░░░░ Feeling good about the ░░░░░░░░ I am More so ░░░░░░░░ before the election change ░░░░░░░░ for you Well look ░░░░░░░░ are solid strong economic ░░░░░░░░ full employment accommodative fed ░░░░░░░░ inflation and the Trump ░░░░░░░░ right now will lead ░░░░░░░░ uncertainty Lead to uncertainty ░░░░░░░░ It s going to ░░░░░░░░ to more volatility Specifically ░░░░░░░░ of uncertainty about tariffs ░░░░░░░░ it s going to ░░░░░░░░ higher or lower than ░░░░░░░░ s reflected in the ░░░░░░░░ Inflationary impact trade impact ░░░░░░░░ impact So expect four ░░░░░░░░ of increased vol versus ░░░░░░░░ last four years What ░░░░░░░░ returns I think returns ░░░░░░░░ going to be good ░░░░░░░░ fundamentals are solid and ░░░░░░░░ re going to have ░░░░░░░░ earnings You got 266 ░░░░░░░░ on the S P ░░░░░░░░ earnings for next year ░░░░░░░░ is a 10 bump ░░░░░░░░ is doable I think ░░░░░░░░ environment is generally good ░░░░░░░░ deregulation more m a ░░░░░░░░ lots of activity will ░░░░░░░░ next year You have ░░░░░░░░ highly accomplished former hedge ░░░░░░░░ manager as Treasury secretary ░░░░░░░░ has been the bessent ░░░░░░░░ since it was became ░░░░░░░░ he was going to ░░░░░░░░ the one The market ░░░░░░░░ to like that I ░░░░░░░░ the larger impact was ░░░░░░░░ in the bond market ░░░░░░░░ from the last fed ░░░░░░░░ September 18th bonds rates ░░░░░░░░ up 80 basis points ░░░░░░░░ up a lot And ░░░░░░░░ bessent was announced all ░░░░░░░░ a sudden market improved ░░░░░░░░ dropped 15 basis points ░░░░░░░░ that s an indication ░░░░░░░░ the long end of ░░░░░░░░ market is less concerned ░░░░░░░░ you know a runway ░░░░░░░░ deficit and prolific spending ░░░░░░░░ more bond issuance and ░░░░░░░░ inflation so it s ░░░░░░░░ sign that the bond ░░░░░░░░ vigil antis are calming ░░░░░░░░ A shot of the ░░░░░░░░ Garden here We have ░░░░░░░░ awaiting President Biden to ░░░░░░░░ remarks about a cease ░░░░░░░░ deal Good news to ░░░░░░░░ from the Middle East ░░░░░░░░ just spoke with the ░░░░░░░░ minister of Israel and ░░░░░░░░ I m pleased to ░░░░░░░░ that their governments have ░░░░░░░░ the United States proposal ░░░░░░░░ end the devastating conflict ░░░░░░░░ Israel and Hezbollah I ░░░░░░░░ to thank president macron ░░░░░░░░ France for his partnership ░░░░░░░░ reaching this moment For ░░░░░░░░ 14 months a deadly ░░░░░░░░ raged across the border ░░░░░░░░ separates Israel and Lebanon ░░░░░░░░ conflict that began the ░░░░░░░░ after the October 7 ░░░░░░░░ by Hamas and Israel ░░░░░░░░ later at 2 00 ░░░░░░░░ M in the morning ░░░░░░░░ and other terrorist organizations ░░░░░░░░ by Iran attacked Israel ░░░░░░░░ support of Hamas Let ░░░░░░░░ be clear Israel did ░░░░░░░░ launch this war The ░░░░░░░░ people did not seek ░░░░░░░░ war either Nor did ░░░░░░░░ United States Over the ░░░░░░░░ year including the days ░░░░░░░░ following October 7th I ░░░░░░░░ the U S Military ░░░░░░░░ flow assets and capabilities ░░░░░░░░ the region including aircraft ░░░░░░░░ fighter squadrons and sophisticated ░░░░░░░░ defense battery to defend ░░░░░░░░ and to deter our ░░░░░░░░ enemy at a critical ░░░░░░░░ Since the war with ░░░░░░░░ began over 70 000 ░░░░░░░░ have been forced to ░░░░░░░░ in refugee live as ░░░░░░░░ in their own country ░░░░░░░░ watching their homes their ░░░░░░░░ their communities as they ░░░░░░░░ bombarded and destroyed And ░░░░░░░░ 300 000 lebanese people ░░░░░░░░ also been forced to ░░░░░░░░ as refugees in their ░░░░░░░░ country A war imposed ░░░░░░░░ them by Hezbollah All ░░░░░░░░ this has been the ░░░░░░░░ conflict between Israel and ░░░░░░░░ in decades How many ░░░░░░░░ Hezbollah senior leaders are ░░░░░░░░ including its long time ░░░░░░░░ nasrallah And Israel destroyed ░░░░░░░░ infrastructure in southern Lebanon ░░░░░░░░ miles of sophisticated tunnels ░░░░░░░░ were prepped for an ░░░░░░░░ 7th style attack in ░░░░░░░░ Israel But lasting security ░░░░░░░░ the people of Israel ░░░░░░░░ Lebanon cannot be achieved ░░░░░░░░ on the battlefield That ░░░░░░░░ why I directed my ░░░░░░░░ to work with the ░░░░░░░░ of Israel and Lebanon ░░░░░░░░ forge a cease fire ░░░░░░░░ bring a conflict between ░░░░░░░░ and Hezbollah to a ░░░░░░░░ Under the deal reached ░░░░░░░░ effective at 4 00 ░░░░░░░░ M tomorrow local time ░░░░░░░░ fighting across the lebanese ░░░░░░░░ border will end Will ░░░░░░░░ This is designed to ░░░░░░░░ a permanent cessation of ░░░░░░░░ What is left of ░░░░░░░░ and other terrorist organizations ░░░░░░░░ not be allowed emphasize ░░░░░░░░ be allowed to threaten ░░░░░░░░ security of Israel again ░░░░░░░░ the next 60 days ░░░░░░░░ lebanese army and state ░░░░░░░░ forces will deploy and ░░░░░░░░ control of their own ░░░░░░░░ once again Hezbollah terrorist ░░░░░░░░ in southern Lebanon will ░░░░░░░░ be allowed to be ░░░░░░░░ Over the next 60 ░░░░░░░░ Israel will gradually withdraw ░░░░░░░░ remaining forces and civilians ░░░░░░░░ both sides will soon ░░░░░░░░ able to safely return ░░░░░░░░ their communities And begin ░░░░░░░░ rebuild their homes their ░░░░░░░░ their farms their businesses ░░░░░░░░ their very lives We ░░░░░░░░ determined this conflict will ░░░░░░░░ be just another cycle ░░░░░░░░ violence and so the ░░░░░░░░ States with the full ░░░░░░░░ of France and our ░░░░░░░░ allies has pledged to ░░░░░░░░ with Israel and Lebanon ░░░░░░░░ ensure that they this ░░░░░░░░ is fully implemented and ░░░░░░░░ agreement totally implemented There ░░░░░░░░ be no U S ░░░░░░░░ deployed in southern Lebanon ░░░░░░░░ is consistent with my ░░░░░░░░ to the American people ░░░░░░░░ not put U S ░░░░░░░░ in combat in this ░░░░░░░░ Instead we along with ░░░░░░░░ and other will provide ░░░░░░░░ necessary assistance to make ░░░░░░░░ this deal is implemented ░░░░░░░░ and effectively Let me ░░░░░░░░ clear if Hezbollah or ░░░░░░░░ else breaks the deal ░░░░░░░░ poses a direct threat ░░░░░░░░ Israel Israel retains the ░░░░░░░░ to self defense consistent ░░░░░░░░ international law Just like ░░░░░░░░ country when facing a ░░░░░░░░ group pledged with that ░░░░░░░░ s destruction At the ░░░░░░░░ time this deal supports ░░░░░░░░ s sovereignty and so ░░░░░░░░ heralds a new start ░░░░░░░░ Lebanon a country I ░░░░░░░░ seen most of over ░░░░░░░░ years with rich history ░░░░░░░░ culture fully implemented this ░░░░░░░░ can put Lebanon on ░░░░░░░░ path toward a future ░░░░░░░░ s worthy of a ░░░░░░░░ past Just as the ░░░░░░░░ people deserve a future ░░░░░░░░ security and prosperity so ░░░░░░░░ the people of Gaza ░░░░░░░░ too deserve an end ░░░░░░░░ the fighting and displacement ░░░░░░░░ of Gaza have been ░░░░░░░░ hell Their words Their ░░░░░░░░ is absolutely shattered Far ░░░░░░░░ many civilians in Gaza ░░░░░░░░ suffered far too much ░░░░░░░░ Hamas has refused for ░░░░░░░░ and months to negotiate ░░░░░░░░ good faith cease fire ░░░░░░░░ hostage deal Now Hamas ░░░░░░░░ a choice to make ░░░░░░░░ only way out is ░░░░░░░░ release the hostages including ░░░░░░░░ citizens which they hold ░░░░░░░░ the process bring an ░░░░░░░░ to the fighting which ░░░░░░░░ make possible a surge ░░░░░░░░ humanitarian relief Over the ░░░░░░░░ days the United States ░░░░░░░░ make another push with ░░░░░░░░ equip Qatar Israel and ░░░░░░░░ to achieve a cease ░░░░░░░░ in Gaza the hostages ░░░░░░░░ and end the war ░░░░░░░░ Hamas in power that ░░░░░░░░ possible As for the ░░░░░░░░ midwest region today s ░░░░░░░░ brings us closer to ░░░░░░░░ the affirmative agenda that ░░░░░░░░ ve been pushing forward ░░░░░░░░ my entire presidency A ░░░░░░░░ for the future of ░░░░░░░░ Middle East where it ░░░░░░░░ at peace and prosperous ░░░░░░░░ integrated across borders A ░░░░░░░░ where palestines have a ░░░░░░░░ of their own one ░░░░░░░░ feels aspirations one that ░░░░░░░░ threaten Israel or harbor ░░░░░░░░ groups with backing from ░░░░░░░░ Future Israelis and Palestinians ░░░░░░░░ equal measures of security ░░░░░░░░ and dignity To that ░░░░░░░░ the United States remains ░░░░░░░░ to conclude a set ░░░░░░░░ historic deals with Saudi ░░░░░░░░ to include a security ░░░░░░░░ and economic assurance together ░░░░░░░░ the credible pathway for ░░░░░░░░ a Palestinian state and ░░░░░░░░ full the full normalization ░░░░░░░░ relations between Saudi Arabia ░░░░░░░░ Israel It s a ░░░░░░░░ they both have I ░░░░░░░░ this agenda remains possible ░░░░░░░░ in my remaining time ░░░░░░░░ office I ll work ░░░░░░░░ to advance the vision ░░░░░░░░ an integrated secure and ░░░░░░░░ region all of which ░░░░░░░░ America s national security ░░░░░░░░ all this done will ░░░░░░░░ making some hard choices ░░░░░░░░ has been bold on ░░░░░░░░ battlefield Iran and its ░░░░░░░░ have paid a very ░░░░░░░░ price Now Israel must ░░░░░░░░ bold in turning tactical ░░░░░░░░ against Iran and its ░░░░░░░░ into a coherent strategy ░░░░░░░░ secure Israel s long ░░░░░░░░ safety and advances of ░░░░░░░░ peace and prosperity in ░░░░░░░░ region Today s announcement ░░░░░░░░ a critical step in ░░░░░░░░ that vision And so ░░░░░░░░ applaud the decision made ░░░░░░░░ the leaders of Lebanon ░░░░░░░░ Israel to end the ░░░░░░░░ It reminds us that ░░░░░░░░ is possible Say that ░░░░░░░░ Peace is possible As ░░░░░░░░ as that is the ░░░░░░░░ I ll not for ░░░░░░░░ single moment stop working ░░░░░░░░ achieve it God bless ░░░░░░░░ all Sorry to keep ░░░░░░░░ waiting so long May ░░░░░░░░ protect our troops Thank ░░░░░░░░ President Biden in the ░░░░░░░░ Garden as why you ░░░░░░░░ announcing that cease fire ░░░░░░░░ between Israel and Hezbollah ░░░░░░░░ 00 A M local ░░░░░░░░ it will be effective ░░░░░░░░ in Lebanon 60 days ░░░░░░░░ for the full withdraw ░░░░░░░░ Israeli forces the first ░░░░░░░░ which will be leaving ░░░░░░░░ the next 10 days ░░░░░░░░ France will help with ░░░░░░░░ implementation of this Eamon ░░░░░░░░ is watching it in ░░░░░░░░ and joins us now ░░░░░░░░ you heard the president ░░░░░░░░ talking about the delay ░░░░░░░░ for a delay One ░░░░░░░░ for that might be ░░░░░░░░ statement that we just ░░░░░░░░ from Israel saying that ░░░░░░░░ political security cabinet aproevgds ░░░░░░░░ U S cease fire ░░░░░░░░ by a majority of ░░░░░░░░ minters to one Israel ░░░░░░░░ the U S Contribution ░░░░░░░░ the process reserves its ░░░░░░░░ to act against any ░░░░░░░░ to its security May ░░░░░░░░ the delay was waiting ░░░░░░░░ that vote in Israel ░░░░░░░░ make sure this was ░░░░░░░░ official and now it ░░░░░░░░ Scott I ve been ░░░░░░░░ with a former CIA ░░░░░░░░ chief in the region ░░░░░░░░ get a sense of ░░░░░░░░ the analysis is of ░░░░░░░░ deal A couple points ░░░░░░░░ make there One is ░░░░░░░░ the Israelis will I ░░░░░░░░ told do what they ░░░░░░░░ to do here despite ░░░░░░░░ existence of a cease ░░░░░░░░ that includes potential will ░░░░░░░░ a tax on any ░░░░░░░░ evident out of Syria ░░░░░░░░ other countries in the ░░░░░░░░ such as Iran And ░░░░░░░░ also raises the question ░░░░░░░░ you heard the president ░░░░░░░░ there of what happens ░░░░░░░░ in Gaza This is ░░░░░░░░ first step in a ░░░░░░░░ process that might happen ░░░░░░░░ the course of two ░░░░░░░░ and die ametrically opposed ░░░░░░░░ Now for the incoming ░░░░░░░░ team and outgoing Biden ░░░░░░░░ can they get a ░░░░░░░░ over the line for ░░░░░░░░ cease fire in Gaza ░░░░░░░░ well and what are ░░░░░░░░ implications for that That ░░░░░░░░ the piece we don ░░░░░░░░ know Of course the ░░░░░░░░ of those hostages hangs ░░░░░░░░ the balance there as ░░░░░░░░ Back over to you ░░░░░░░░ we have any reaction ░░░░░░░░ transition team Trump to ░░░░░░░░ deal Not yet but ░░░░░░░░ think we will have ░░░░░░░░ very soon If you ░░░░░░░░ Donald Trump you know ░░░░░░░░ very much wanted to ░░░░░░░░ the person to make ░░░░░░░░ big announcement here on ░░░░░░░░ He wants to be ░░░░░░░░ as the guy that ░░░░░░░░ do the deal in ░░░░░░░░ Middle East They re ░░░░░░░░ in the Trump team ░░░░░░░░ the Abraham Accords back ░░░░░░░░ the first Trump term ░░░░░░░░ sees himself as somebody ░░░░░░░░ can bring a measure ░░░░░░░░ peace here and because ░░░░░░░░ the strength of his ░░░░░░░░ with Benjamin Netanyahu he ░░░░░░░░ have the sort of ░░░░░░░░ Nixon can go to ░░░░░░░░ credibility to get a ░░░░░░░░ done there This sort ░░░░░░░░ politically in terms of ░░░░░░░░ credit if you want ░░░░░░░░ look at it in ░░░░░░░░ crass terms does rob ░░░░░░░░ of some of his ░░░░░░░░ to take credit for ░░░░░░░░ piece of it the ░░░░░░░░ cease fire But that ░░░░░░░░ Gaza piece remains out ░░░░░░░░ Eamon Javers in Washington ░░░░░░░░ the latest for us ░░░░░░░░ Rich saperstein has been ░░░░░░░░ us watching all of ░░░░░░░░ unfold One of the ░░░░░░░░ we haven t discussed ░░░░░░░░ much geopolitical moving into ░░░░░░░░ new year so much ░░░░░░░░ about the domestic economy ░░░░░░░░ haven t focused that ░░░░░░░░ investors seemingly haven t ░░░░░░░░ issues that may develop ░░░░░░░░ borders Yeah What s ░░░░░░░░ is that with the ░░░░░░░░ wars that were going ░░░░░░░░ oil prices really have ░░░░░░░░ subdued and so you ░░░░░░░░ have thought that with ░░░░░░░░ global geopolitical tensions you ░░░░░░░░ see rising oil prices ░░░░░░░░ weak stock market But ░░░░░░░░ s clearly moved right ░░░░░░░░ that given the fundamentals ░░░░░░░░ re experiencing Areas you ░░░░░░░░ the most are they ░░░░░░░░ ones that have been ░░░░░░░░ picking up since the ░░░░░░░░ the cyclicals financials industrials ░░░░░░░░ talk financials every day ░░░░░░░░ they ve been hitting ░░░░░░░░ highs almost every day ░░░░░░░░ ones that have been ░░░░░░░░ a little bit of ░░░░░░░░ slumber Big Tech tech ░░░░░░░░ own Big Tech and ░░░░░░░░ at Google as probably ░░░░░░░░ most attractive right now ░░░░░░░░ will be a broadening ░░░░░░░░ and we add utilities ░░░░░░░░ now You still do ░░░░░░░░ Most recent one nrg ░░░░░░░░ it s a 20 ░░░░░░░░ company with 2 5 ░░░░░░░░ operating cash flow and ░░░░░░░░ locations where they could ░░░░░░░░ locate any type of ░░░░░░░░ electricity demand So there ░░░░░░░░ great opportunity still in ░░░░░░░░ utility sector which should ░░░░░░░░ well in 2025 Still ░░░░░░░░ munis Oh yeah Not ░░░░░░░░ off that train.