Republican Mitch McConnell will step down as his party’s leader in the Senate after the November election. Here is instant reaction and analysis from the Bloomberg Balance of Power podcast, hosted by Joe Mathieu and Kailey Leinz.

Iran Opens Strait of Hormuz; Trump Says Iran Will Suspend Nuclear Program
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Israel, Lebanon Agree to Ceasefire, Trump Takes Economic Message to Nevada
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US and Iran Weigh Extending Their Ceasefire by Two Weeks
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