New Carrier To Replace USS Lincoln in Middle East | Balance of Power 08/13/2026

Watch on YouTube ↗  |  August 13, 2026 at 23:35  |  49:55  |  Bloomberg Markets
Speakers
Mark Esper — Former US Secretary of Defense
Ira Jersey — Bloomberg Intelligence Chief US Interest Rate Strategist
Cait Conley — Democratic Candidate for US House, New York's 17th District
Courtney Subramanian — Bloomberg Correspondent
Jack Reed — Ranking Member, Senate Armed Services Committee
Kailey Leinz — Bloomberg Reporter
Joe Mathieu — Host, Bloomberg Radio

Summary

The episode covers the US-Iran conflict, the carrier relief for the USS Abraham Lincoln, defense industrial base and munitions needs, rising long-term Treasury borrowing costs, and the competitive New York House race. Guests include former Defense Secretary Mark Esper, Bloomberg Intelligence's Ira Jersey, Democratic candidate Cait Conley, and Senator Jack Reed. Market implications center on energy supply risk, defense spending, and long-term bond yields.

  • US-Iran standoff continues with Strait of Hormuz traffic reduced and a carrier relief planned.
  • Mark Esper supports an economic blockade and warns about munitions stockpile depletion and force readiness.
  • Esper highlights a $59B Lockheed contract to quadruple Patriot production and need for defense tech funding.
  • Ira Jersey says 30-year Treasury yields are at highest since 2001 due to deficits and global competition.
  • Cait Conley says data centers can be a net positive and AI needs responsible federal regulation.
  • Senator Jack Reed criticizes Pentagon communication and says precision weapons inventories are significantly decreased.
  • Breaking news includes new US drone tariffs and OpenAI's $40B annualized revenue run rate.
Ideas
Mark Esper Former US Secretary of Defense 8:19
Defense industrial base investments will pay off.
The U.S. must rebuild its defense industrial base and munitions stockpiles after decades of just-in-time logistics; these investments will pay off, and the Pentagon's $59 billion Lockheed Martin contract to quadruple Patriot missile production shows the scale, even though new rounds will not arrive until 2030-2032.
ITA LMT HIGH
Mark Esper Former US Secretary of Defense 11:43
Drone and defense technology investment is necessary.
The new drone task force and broader military technology push are late but necessary; if defense funding does not reach innovative venture-backed defense technology firms, warfighters will be denied new capabilities and those innovators may shift to commercial work.
Drone defense technology Defense technology MED
Ira Jersey Bloomberg Intelligence Chief US Interest Rate Strategist 15:27
Long-dated Treasuries face rising yield pressure.
Long-term U.S. Treasury yields are at 25-year highs and are under pressure from persistent $1.5 trillion deficits, rising debt-to-GDP, and competition from other developed bond markets; investors are beginning to price in a fiscal risk premium, making long-dated U.S. debt less attractive.
long-term U.S. Treasuries MED
Ira Jersey Bloomberg Intelligence Chief US Interest Rate Strategist 17:05
Hedged JGBs now beat U.S. Treasuries.
Thirty-year Japanese government bond yields have risen from under 2% to about 4%, and for buyers who hedge back into Taiwan dollars they now yield more than U.S. Treasuries, making Japanese government bonds a competing and potentially more attractive alternative to long-dated U.S. debt.
30-year Japanese Government Bonds MED
Cait Conley Democratic Candidate for US House, New York's 17th District 23:49
Data center investment can be net positive.
Data centers can be a net positive for communities if regulated correctly; massive investment is already pouring into data centers and should be harnessed to drive positive local outcomes and maintain U.S. tech leadership rather than banning or halting development.
DTCR MED
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This Bloomberg Markets video, published August 13, 2026, features Mark Esper, Ira Jersey, Cait Conley discussing ITA, LMT, Drone defense technology, Defense technology, long-term U.S. Treasuries, 30-year Japanese Government Bonds, DTCR. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mark Esper, Ira Jersey, Cait Conley  · Tickers: ITA, LMT, Drone defense technology, Defense technology, long-term U.S. Treasuries, 30-year Japanese Government Bonds, DTCR