Trump Says Deal Will ‘Work Out Well’ Even as US, Iran Clash | The Opening Trade 6/1/2026

Watch on YouTube ↗  |  June 01, 2026 at 09:50  |  1:35:52  |  Bloomberg Markets
Speakers
Lauréline Renaud-Chatelain — Pictet Wealth Management
Viktor Hjort — Global Head of Strategy, BNP Paribas
Will Hobbs — CIO, Brooks Macdonald

Summary

The episode covers markets reacting to AI optimism (NVIDIA, Softbank) driving Asian and US stocks, while European markets are flat due to energy concerns from the Iran conflict and oil price uncertainty. Bond markets are pricing in inflation and central bank rate hike expectations. Guests discuss AI adoption, oil deal prospects, and fixed income strategies.

  • AI rally continues, with NVIDIA and Softbank driving Asian and US equities to record highs.
  • European markets are flat, weighed by higher oil prices and energy uncertainty from the Strait of Hormuz closure.
  • Oil prices rise slightly but remain well off war highs as traders await a ceasefire deal.
  • Bond markets focus on inflation risks, with ECB and Fed rate hike expectations being priced in.
  • Guest Lauréline Renaud-Chatelain recommends short-term bonds for carry and potential yield decline if oil flows normalize.
  • Geopolitical risks remain high, with Iran-Israel clashes and uncertainty over a lasting deal.
  • Softbank announces 75 billion euro data center investment in France, boosting AI infrastructure sentiment.
  • UK politics and Prime Minister succession add uncertainty, but guest Will Hobbs argues gilts fears are exaggerated.
Trade Ideas
Lauréline Renaud-Chatelain Pictet Wealth Management 26:27
Short-term bonds offer attractive carry.
The speaker prefers the short-term part of the yield curve (U.S. and European government bonds) because it offers good carry with minimal duration risk. She believes that if the Strait of Hormuz reopens and oil flows normalize, short-term yields will decline, providing upside. She has started building positions in short-term high-quality credit.
Short-term U.S. Treasuries SHY MED
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This Bloomberg Markets video, published June 01, 2026, features Lauréline Renaud-Chatelain discussing Short-term U.S. Treasuries, SHY. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Lauréline Renaud-Chatelain  · Tickers: Short-term U.S. Treasuries, SHY