Brent Hits $100, US Slaps Bans, New Tariffs on Canada, Trump to Speak at RNC

Watch on YouTube ↗  |  September 09, 2026 at 12:28  |  46:22  |  Bloomberg Markets
Speakers
Winnie Hsu — Bloomberg Reporter (Asia Markets)
Justina Lee — Bloomberg Reporter
Chloe Meley — Reporter, Bloomberg
Paul Wallace — Team Leader/Senior Editor, Bloomberg
Scott Bessent — Treasury Secretary
Isabelle Scemama — Global Head of AM Alternatives, BNP Paribas Asset Management
Ven Ram — Markets Live Reporter/Strategist, Bloomberg
Blair Jacobson — Co-President, Ares Management

Summary

The episode covers rising Brent crude above $100 on US-Iran and Houthi tensions, escalating US-Canada trade frictions, and Treasury Secretary Bessent's verbal intervention supporting the yen. It also includes IPEM conference interviews where BNP Paribas's Isabelle Scemama favors European private credit, mid-cap private equity, real estate, and defense/infrastructure, while Ares's Blair Jacobson sees durable AI-driven demand for digital infrastructure. Market mover coverage highlights AI-related chip strength and software/lithium stock moves.

  • Brent tops $100 as US-Iran attacks and Houthi strikes raise supply risks; WTI is also strong.
  • US bans selected Canadian imports and fresh tariffs fuel trade-war uncertainty.
  • Scott Bessent warns traders against betting against the yen, citing asymmetric information.
  • Asian tech and Korean chipmakers gain on AI demand signals.
  • ServiceTitan falls on weak AI-related software guidance; Lithium Americas gains on a JPM upgrade.
  • Isabelle Scemama favors European private credit, mid-cap PE, real estate, and resilience infrastructure/defense.
  • Blair Jacobson backs AI data center/digital infrastructure demand and sees software bifurcation with Salesforce as an AI winner.
Ideas
Winnie Hsu Bloomberg Reporter (Asia Markets) 1:03
AI demand lifts Korean chipmakers.
SK hynix and Samsung Electronics are driving KOSPI gains because solid AI demand, Intel raising prices, and Qualcomm's deal with Amazon improve the earnings picture for Korean chipmakers.
005930.KS 000660.KS MED
Justina Lee Bloomberg Reporter 2:48
Natural gas supply risk is bullish.
European natural gas prices are at multi-year highs because a large share of supplies must transit the Strait of Hormuz, and this supply-route risk is a key inflation input for ECB policymakers.
European natural gas futures MED
Chloe Meley Reporter, Bloomberg 4:52
ServiceTitan's AI slowdown disappoints.
ServiceTitan is tumbling after a disappointing third-quarter forecast and slowing scaling of its agentic AI products, prompting investor caution about the software outlook.
TTAN MED
Chloe Meley Reporter, Bloomberg 5:12
JPM upgrade sees lithium pricing recovery.
Lithium Americas is gaining after J.P. Morgan upgraded the company on an improved long-term lithium outlook and better pricing flowing through to producers.
LAC MED
Paul Wallace Team Leader/Senior Editor, Bloomberg 8:05
Geopolitical attacks keep oil prices supported.
US-Iran and Houthi attacks show no signs of slowing, with US destruction of Iranian oil tankers and Saudi refinery risk; more skirmishes are likely and would put more pressure on oil prices.
BNO WTI HIGH
Scott Bessent Treasury Secretary 13:05
Bessent backs yen against short sellers.
The Treasury secretary warns traders not to bet against the yen, saying he has asymmetric information on likely BOJ and Japanese policymaker actions when the US intervenes, supporting yen strengthening.
FXY HIGH
Isabelle Scemama Global Head of AM Alternatives, BNP Paribas Asset Management 16:15
Favor European private credit and PE.
In a complex world, BNP Paribas favors European private assets, especially small/mid-cap private equity and private credit/direct lending, because of local proximity, lower European rates, and relative value opportunities.
European private credit European mid-cap private equity MED
Isabelle Scemama Global Head of AM Alternatives, BNP Paribas Asset Management 17:31
Europe must rebuild infrastructure and defense.
Europe is pivoting from efficiency to resilience and has no option but to reinvest in infrastructure, defense, and domestic/regional rebuilding, supporting these sectors.
European Defense European infrastructure MED
Isabelle Scemama Global Head of AM Alternatives, BNP Paribas Asset Management 18:07
European real estate is under-owned and cheap.
European real estate is under-owned with limited new capital, but yields across asset classes are over 5%, supply is low, and pricing has adjusted, so the asset class should attract investors again.
European real estate MED
Ven Ram Markets Live Reporter/Strategist, Bloomberg 29:27
Skeptical on long-end Treasuries.
Treasury buybacks are a short-term band-aid, but rising term premiums and trade deficits with no viable deficit-reduction plan make him skeptical about the long end of the Treasury curve.
US long-end Treasuries MED
Blair Jacobson Co-President, Ares Management 40:29
AI positive for Salesforce.
The software market is bifurcating; entrenched regulated software businesses with high cost of failure are improving, and Salesforce earnings show AI is a positive for that business.
CRM MED
Blair Jacobson Co-President, Ares Management 43:08
AI data center demand is durable.
AI demand for all things digital remains massive, and Ares is investing in digital infrastructure, developing its own data centers and campuses because the trend is likely valid for many years and overinvestment is not a concern.
Digital infrastructure DTCR HIGH
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This Bloomberg Markets video, published September 09, 2026, features Winnie Hsu, Justina Lee, Chloe Meley, Paul Wallace, Scott Bessent, Isabelle Scemama, Ven Ram, Blair Jacobson discussing 005930.KS, 000660.KS, European natural gas futures, TTAN, LAC, BNO, WTI, FXY, European private credit, European mid-cap private equity, European Defense, European infrastructure, European real estate, US long-end Treasuries, CRM, Digital infrastructure, DTCR. 12 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Winnie Hsu, Justina Lee, Chloe Meley, Paul Wallace, Scott Bessent, Isabelle Scemama, Ven Ram, Blair Jacobson  · Tickers: 005930.KS, 000660.KS, European natural gas futures, TTAN, LAC, BNO, WTI, FXY, European private credit, European mid-cap private equity, European Defense, European infrastructure, European real estate, US long-end Treasuries, CRM, Digital infrastructure, DTCR