Iran War: Hormuz Stalemate Lifts Oil for a 5th Day | The Opening Trade 4/24/2026

Watch on YouTube ↗  |  April 24, 2026 at 10:52  |  1:35:41  |  Bloomberg Markets
Speakers
Paul Dobson — Executive Editor, Bloomberg

Summary

The video covers the impact of the Iran war and Strait of Hormuz blockade on oil prices, with Brent above $105. It contrasts rising oil with strong tech earnings from Intel and SAP. Portfolio manager Ali Curevac favors front-end government bonds, while fund manager Kenny recommends long US tech and consumer staples as a hedge. EU leaders meet in Cyprus to discuss the energy crisis and Ukraine membership.

  • Oil prices rise for fifth straight day above $105.
  • Tech stocks rally on strong earnings from Intel and SAP.
  • Portfolio manager Ali Curevac favors front-end government bonds.
  • Fund manager Kenny recommends long US tech and consumer staples hedge.
  • Paul Dobson highlights emerging market energy producers for carry.
  • EU leaders discuss energy shock and Ukraine EU membership.
  • Airlines face fuel cost pressures and cut forecasts.
  • Semiconductor sector up 17 straight days.
Trade Ideas
Ali Curevac 20:36
Front-end bonds attractive as inflation transitory
Front-end government bonds in the UK and Eurozone are attractive because rates have risen by 60-80 basis points, yet inflation is likely transitory and central banks can look through it. In a more bearish recession scenario, central banks could even cut rates. This makes current yields an opportunity.
UK short-dated government bonds German short-dated government bonds MED
Paul Dobson Executive Editor, Bloomberg 43:37
EM energy producers for carry trade
Higher-yielding emerging market energy producers are attractive for carry trades given lower volatility and stable interest rates. This trade is safe unless there is another flare-up in the Middle East.
EPU LOW
Kenny 54:35
Tech stocks structural winners earnings resilient
US large-cap technology stocks are structural winners because their earnings are resilient and they were heavily punished in March, making them cheaper. The AI theme and strong earnings momentum support further upside.
QQQ MED
Kenny 57:09
Consumer staples as defensive hedge
Consumer staples stocks act as a defensive hedge against a potential rotation out of cyclicals. They performed well in January and February and offer stability if the economy weakens.
XLP MED
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This Bloomberg Markets video, published April 24, 2026, features Ali Curevac, Paul Dobson, Kenny discussing UK short-dated government bonds, German short-dated government bonds, EPU, QQQ, XLP. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ali Curevac, Paul Dobson, Kenny  · Tickers: UK short-dated government bonds, German short-dated government bonds, EPU, QQQ, XLP