US and Iran Trade First Strikes in Weeks | Daybreak Europe 8/31/2026
Спикеры
Wolf von Rotberg
— Стратег по акциям, J. Safra Sarasin
Bastian
— Bloomberg Swiss Economy and Government Reporter
Bloomberg Daybreak Europe covers renewed US-Iran military strikes that lifted Brent above $90 and pressured Asian stocks, while Fed Chair Kevin Warsh's Jackson Hole speech raised September rate-hike expectations. Guest Wolf von Rotberg keeps a constructive U.S. equity view, sees near-term AI trade support from NVIDIA, and expects energy and oil strength to fade with Brent trending toward $80. The program also covers Russia-Ukraine escalation, Iceland's EU referendum, and a Swiss capital compromise for UBS.
- US and Iran exchange strikes, pushing Brent crude above $90.
- Asian stocks fall as Warsh's Jackson Hole speech lifts Fed September rate-hike bets.
- Wolf von Rotberg stays constructive on U.S. equities on strong nominal GDP and reduced rate sensitivity.
- NVIDIA and hyperscaler guidance stabilize the near-term AI trade, but long-term uncertainty remains.
- Energy sector support is seen fading, with Brent expected to trend toward $80 by year-end.
- A Swiss parliamentary committee weighs an AT1 compromise that could lower UBS capital costs.
- Russia-Ukraine strikes escalate and Iceland rejects renewed EU membership talks.
Идеи
US equities can rally despite higher yields.
The Fed rate-hike repricing does not change his constructive view on U.S. equities because the economy is running hot, nominal GDP growth is above 6% a quarter, the long end of the yield curve is following the cycle rather than fiscal or debasement concerns, and equity rate sensitivity has declined. Even if the 10-year Treasury yield moves to 5% on strong macro data, equities can continue to perform; only a panic-type fiscal reaction would be negative.
NVDA earnings stabilize near-term AI trade.
NVIDIA's reported numbers and strong or as-expected hyperscaler guidance have helped stabilize the AI trade for at least the next quarter or so. The market is trading on reported data and needs to see numbers, so this is a near-term positive signal. Over a longer horizon, the jury is still out because the revenue follow-through is not yet enough to argue the AI trade works over the long term.
Oil fades to $80; energy earnings weaken.
Energy sector support is expected to fade as the oil and gas price rise stalls. Wolf expects Brent is unlikely to return to $100 and instead trends toward roughly $80 by year-end because US secondary sanctions on Iranian oil importers have been lacking and the US administration wants to keep global oil supply flowing through the Strait of Hormuz. Energy earnings growth also faces a negative base effect into Q3, with refining and product earnings likely to show downside.
Oil fades to $80; energy earnings weaken.
Energy sector support is expected to fade as the oil and gas price rise stalls. Wolf expects Brent is unlikely to return to $100 and instead trends toward roughly $80 by year-end because US secondary sanctions on Iranian oil importers have been lacking and the US administration wants to keep global oil supply flowing through the Strait of Hormuz. Energy earnings growth also faces a negative base effect into Q3, with refining and product earnings likely to show downside.
AT1 compromise would cut UBS capital costs.
A Swiss parliamentary committee is weighing a compromise that would allow UBS to use AT1 bonds, a cheaper alternative to equity capital, to back its foreign units instead of only the highest-quality CET1 equity under the government plan. If lawmakers move forward, it would be an important intermediate victory for UBS by reducing capital costs, but the process is not done and will not be finalized before next year.
Далее
This Bloomberg Markets video, published August 31, 2026, features Wolf von Rotberg, Bastian discussing SPY, AI trade, NVDA, BNO, XLE, UBS. 5 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Wolf von Rotberg, Bastian · Tickers: SPY, AI trade, NVDA, BNO, XLE, UBS