US-Iran War Intensifies as Trump Downplays Desire For Deal | Daybreak Europe 9/2/2026

Watch on YouTube ↗  |  September 02, 2026 at 06:39  |  46:04  |  Bloomberg Markets
Speakers
Abeer Abu Omar — Reporter, Bloomberg London
Ven Ram — Markets Live Reporter/Strategist, Bloomberg
Stephen Stapczynski — Asia Energy Coverage, Bloomberg
Winnie Hsu — Bloomberg Reporter (Asia Markets)
Matt Bloxham — Head of Research, The Block
Chloe Chaplain — U.K. Politics Reporter, Bloomberg
Patrick Sykes — Bloomberg Middle East Breaking News Editor
Jill Disis — Managing Editor, Bloomberg Hong Kong
Oliver Crook — Chief European Correspondent, Bloomberg

Summary

Bloomberg Daybreak Europe leads with the intensified US-Iran conflict over the Strait of Hormuz, driving oil, European gas and diesel higher while global stocks and bonds sell off. The program examines hawkish global central bank expectations, BOJ hike risks, and AI developments including Nvidia's reported $14B Hugging Face deal and Dell's strong results. It also covers G20 deadlock over China, Iran's use of China/Russia blocs, Ukraine/Russia escalation, and UK political fiscal challenges.

  • US and Iran trade fresh strikes, raising Hormuz closure risk and energy prices.
  • Brent crude trades near $95-$100; European natural gas is at its highest since January 2023 and diesel at a four-month high.
  • Global bond yields rise as central bank tightening expectations and energy inflation pressure bonds.
  • Taiwan stocks outperform Korea on AI optimism; Dell beats on AI server demand; Nvidia is reportedly near a Hugging Face deal.
  • G20 communique is blocked by China over trade imbalances; a Xi-Trump meeting is still expected.
  • Ukraine's Zelensky warns airlines to avoid Russian airspace, threatening drones over Russia.
  • UK Prime Minister Andy Burnham faces fiscal constraints as government borrowing costs are near 6%.
Ideas
Winnie Hsu Bloomberg Reporter (Asia Markets) 3:10
Taiwan equities outperform Korea.
Taiwanese stocks are outperforming and have overtaken Korean stocks as the top global gauge this year, supported by ongoing AI optimism from Nvidia's investment and Dell's forecast, while Korea leads Asian losses.
EWT MED
Winnie Hsu Bloomberg Reporter (Asia Markets) 3:10
Taiwan equities outperform Korea.
Taiwanese stocks are outperforming and have overtaken Korean stocks as the top global gauge this year, supported by ongoing AI optimism from Nvidia's investment and Dell's forecast, while Korea leads Asian losses.
EWY MED
Winnie Hsu Bloomberg Reporter (Asia Markets) 4:09
RBNZ dovish tilt weakens NZ dollar.
New Zealand bonds moved the other way despite a rate hike because investors focused on the RBNZ's dovish message and lower rate forecast for next year, which also drove the kiwi dollar to lead Asian currency losses.
NZD/USD LOW
Winnie Hsu Bloomberg Reporter (Asia Markets) 4:09
RBNZ dovish tilt weakens NZ dollar.
New Zealand bonds moved the other way despite a rate hike because investors focused on the RBNZ's dovish message and lower rate forecast for next year, which also drove the kiwi dollar to lead Asian currency losses.
New Zealand government bonds LOW
Abeer Abu Omar Reporter, Bloomberg London 8:23
Brent rises on US-Iran escalation.
If the US-Iran tanker-for-tanker escalation persists, the domino effect will push Brent higher, fueling inflation concerns and affecting Fed policy and US midterm politics.
BNO HIGH
Ven Ram Markets Live Reporter/Strategist, Bloomberg 10:57
Global bonds keep selling off.
Markets cannot find a circuit breaker for the bond selloff because the global central bank impulse is hawkish and crude and European gas prices are surging; global bonds are likely to continue selling off at least until central bank actions from the Fed, ECB and BOJ.
Global sovereign bonds HIGH
Ven Ram Markets Live Reporter/Strategist, Bloomberg 12:14
BOJ tightening pressures Japanese bonds.
Traders are pricing in a Bank of Japan rate hike as Ueda warns on prices and the finance minister and Treasury Secretary Bessent lean on the BOJ; Japanese bonds are still shortchanged by negative real rates, implying yields need to rise further.
JGBUX LOW
Matt Bloxham Head of Research, The Block 15:05
NVDA gains from open-source AI flywheel.
NVIDIA's reported $14 billion Hugging Face acquisition is a strategic move to keep the open-source AI community thriving and under its influence, countering closed-source rivals developing their own AI hardware and reinforcing NVIDIA's central flywheel role.
NVDA MED
Matt Bloxham Head of Research, The Block 16:09
Cybersecurity grows with AI hacking risk.
Cybersecurity should become massively more important as AI systems lead to big hacks; Palo Alto has strong momentum and positive outlook, though expectations are high and gross margins have softness.
CIBR LOW
Matt Bloxham Head of Research, The Block 16:43
Dell beats on AI server demand.
Dell delivered a significant beat versus expectations for the second half of its fiscal year, with $25 billion upside 10-15% above prior expectations, driven by AI servers using Nvidia chips and a much more important traditional server cycle.
DELL HIGH
Stephen Stapczynski Asia Energy Coverage, Bloomberg 19:09
European gas prices pushed higher.
European natural gas is squeezed by the Hormuz closure, which removed about a fifth of global LNG supply, while Europe is not rushing to refill and lacks hard storage targets; lower inventories will force prices higher and add to consumer inflation.
European natural gas futures HIGH
Stephen Stapczynski Asia Energy Coverage, Bloomberg 20:51
Diesel prices stay elevated.
Diesel is the workhorse of the global economy and is being hit by Ukrainian attacks on Russian refining, Russian export curbs, Middle East output disruption and Hormuz blockage; with winter heating demand, prices are likely to stay elevated.
UGA HIGH
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This Bloomberg Markets video, published September 02, 2026, features Winnie Hsu, Abeer Abu Omar, Ven Ram, Matt Bloxham, Stephen Stapczynski discussing EWT, EWY, NZD/USD, New Zealand government bonds, BNO, Global sovereign bonds, JGBUX, NVDA, CIBR, DELL, European natural gas futures, UGA. 12 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Winnie Hsu, Abeer Abu Omar, Ven Ram, Matt Bloxham, Stephen Stapczynski  · Tickers: EWT, EWY, NZD/USD, New Zealand government bonds, BNO, Global sovereign bonds, JGBUX, NVDA, CIBR, DELL, European natural gas futures, UGA