US Pauses Strikes on Iran; Miami vs NYC

The US paused an almost two-week run of strikes against Iran for a second night while the Islamic Republic signaled it was refraining from any retaliatory attacks and held talks with Oman over the Strait of Hormuz. Skirmishes between Yemen's Houthi militants and Saudi Arabia have ratcheted up tensions, with the Houthis firing missiles and drones at Saudi facilities and the Saudi-led coalition responding with strikes on Houthi military positions.

Also this weekend, Miami's ultra-luxury real estate market is on track to shatter records in 2026, outpacing sales in New York City and the Bay Area as wealth continues to migrate to low-tax states. In the first six months of the year, 24 condos and single-family homes closed for over $30 million in Miami-Dade county, nearly double the number sold during the same period last year.

On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- Becca Wasser, Bloomberg Economics Defense Lead, and Chris Kennedy, Bloomberg Economics Economic Statecraft Lead, on the US pausing strikes against Iran for a second night.

- Mark Lawrence Schrad, Author of "Vodka Politics: Alcohol, Autocracy, and the Secret History of Russian State," on how vodka is hard-wired into the Russian political system.

- Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist, on how the Miami metropolitan area is becoming more expensive than New York City.

Plus, Christina, David, and Lisa discuss the stories you might have missed this week on BTW.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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