Buzzberg Cup Live

US & Iran Halt Attacks, Samsung, SK Prep Record Spending | The Opening Trade 6/29/2026

Watch on YouTube ↗  |  June 29, 2026 at 09:59  |  1:35:07  |  Bloomberg Markets
Speakers
Cat Barton — Reporter, Bloomberg
Alexandra Ivanova — Fund Manager, IFI Europe Team at Invesco
Mark Cudmore — Executive Editor, Bloomberg Live / Macro Strategist
Anthony Stevens — Bloomberg Market Producer
Skyler Montgomery Koning — Macro Strategist
Henry Allen — Macro Strategist, Deutsche Bank Research
Birgit Niessner — CEO, Austrian Society of Bank Research
Melanie Baker — Senior Analyst, Royal Asset Management

Summary

South Korea unveils a record $518B semiconductor investment plan from Samsung and SK Hynix, reinforcing AI memory demand. US-Iran de-escalation halts attacks ahead of peace talks, calming oil markets. Hawkish Fed and ECB rate expectations drive currency and equity rotation views, while UK political speeches and defense reviews add to a busy macro week.

  • South Korea announces $518B investment in memory fabs by Samsung and SK Hynix, boosting Korean tech sentiment.
  • US and Iran halt attacks, reducing oil risk ahead of talks; oil prices end flat.
  • ECB rate hikes expected as geopolitical inflation risks persist; hawkish Fed comments increase US rate hike odds.
  • Alexandra Ivanova of Invesco tilts to European equities, avoids overpriced US semiconductors and hyperscalers.
  • Mark Cudmore sees short-term downside in EUR/USD.
  • Skylar Koning expects dollar strength on improved fundamentals and hawkish Fed.
  • UK defense plan shifts to hybrid drone-capable ships, potentially lowering costs.
  • China-EU trade talks aim to address imbalances, with uncertainty over trade defense measures.
Ideas
Cat Barton Reporter, Bloomberg 13:04
AI boom requires massive memory capex.
The $518B combined spending plan by Samsung and SK Hynix is in line with hyperscaler demand forecasts and what they need to stay on top of the AI memory boom; South Korea is reaping huge profits from AI and investing now to secure benefits through the 2030s.
KS HIGH
Alexandra Ivanova Fund Manager, IFI Europe Team at Invesco 27:11
Under-owned European equities rally catalyst.
European equities are under-owned; investors are not positioned for a rally, and a sustained ceasefire between the U.S. and Iran could trigger repositioning and a broadening of the equity rally.
FEZ MED
Alexandra Ivanova Fund Manager, IFI Europe Team at Invesco 27:28
US semiconductors, hyperscalers overpriced rate-sensitive.
U.S. semiconductors and hyperscalers are overpriced and most sensitive to higher interest rates; a hawkish Fed could hurt them, so portfolios are more balanced with a tilt toward European equities.
SMH QQQ MED
Mark Cudmore Executive Editor, Bloomberg Live / Macro Strategist 39:47
EUR/USD short-term downside.
Short term, EUR/USD probably has more downside; a longer-term dollar downtrend will return later this year but is not ready yet.
EUR/USD HIGH
Anthony Stevens Bloomberg Market Producer 63:45
Watch memory overcapacity and pricing bubble.
With new memory capacity coming online, investors must go back to worrying about memory overcapacity and a pricing bubble; Japan fell 5% on those concerns.
DRAM MED
Skyler Montgomery Koning Macro Strategist 93:11
Dollar to strengthen on data, hawkish Fed.
Bearish dollar positioning has cleared; data now support a stronger dollar, and the Fed's hawkish shift under Warsh adds further upside potential.
US Dollar Index (DXY) HIGH
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If semiconductor stocks fall, buy them… Also pay attention to cosmetics, shipbuilding, and defense
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This Bloomberg Markets video, published June 29, 2026, features Cat Barton, Alexandra Ivanova, Mark Cudmore, Anthony Stevens, Skyler Montgomery Koning discussing KS, FEZ, SMH, QQQ, EUR/USD, DRAM, US Dollar Index (DXY). 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Cat Barton, Alexandra Ivanova, Mark Cudmore, Anthony Stevens, Skyler Montgomery Koning  · Tickers: KS, FEZ, SMH, QQQ, EUR/USD, DRAM, US Dollar Index (DXY)