Iran-Oman Talks Enter Final Stage as Oil Falls | Horizons Middle East & Africa 8/3/2026

Watch on YouTube ↗  |  August 03, 2026 at 07:24  |  46:04  |  Bloomberg Markets
Speakers
Samy Chaar — Lombard Odier, Chief Economist & Switzerland CIO
Winnie Hsu — Bloomberg Reporter (Asia Markets)
Erika Yokoyama — Economy and Government Reporter, Bloomberg
Chloe Meley — Reporter, Bloomberg

Summary

Oil prices tumbled after President Trump announced renewed US-Iran negotiations and called off planned strikes, with talks about reopening the Strait of Hormuz. The Japanese yen strengthened sharply on joint US-Japan currency intervention. In equities, the technology sell-off is seen as an entry opportunity by Lombard Odier's CIO, who prefers Asian tech due to cheaper valuations. European earnings are in focus, including Novo Nordisk and AI-related infrastructure names.

  • Brent crude drops up to 7% as US-Iran diplomacy eases Strait of Hormuz fears
  • OPEC+ raises output quota but logistical bottlenecks keep real supply tight
  • Yen rallies after first joint US-Japan intervention in 15 years
  • BOJ rate hike bets increase, two-year yield spikes
  • Lombard Odier CIO calls chipmaker weakness an entry opportunity
  • Asia tech seen as cheaper way to play the same AI/tech cycle
  • Japanese domestic-demand stocks outperform on stronger yen
  • European earnings week highlights AI-themed infrastructure and consumer weakness
Ideas
Winnie Hsu Bloomberg Reporter (Asia Markets) 5:13
Stronger yen lifts domestic demand stocks.
A stronger Japanese yen helps the domestic economy and specifically benefits companies reliant on domestic demand, like Netori, which are outperforming export-heavy names.
9843.T MED
Samy Chaar Lombard Odier, Chief Economist & Switzerland CIO 18:51
Chipmaker dip is an entry opportunity.
The tech cycle, AI, chipmakers and data centers are still in an early, favorable phase. The profit and capex cycles are ongoing, balance sheets are healthy, and there is no sign of exhaustion. Therefore, the recent weakness in chipmakers is an entry opportunity.
SMH HIGH
Samy Chaar Lombard Odier, Chief Economist & Switzerland CIO 19:59
Overweight Asia as cheaper tech play.
Both the US and Asia offer the same strong tech cycle story, but Asian tech is cheaper. This makes an overweight position in Asian equities attractive.
AAXJ HIGH
Erika Yokoyama Economy and Government Reporter, Bloomberg 30:46
Yen supported by coordinated intervention threat.
The coordinated US-Japan intervention signals a strong commitment to supporting the yen. Further joint action is possible at any time, making shorting the yen very risky.
FXY MED
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815 Money Talk (815머니톡) · Aug 03

This Bloomberg Markets video, published August 03, 2026, features Winnie Hsu, Samy Chaar, Erika Yokoyama discussing 9843.T, SMH, AAXJ, FXY. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Winnie Hsu, Samy Chaar, Erika Yokoyama  · Tickers: 9843.T, SMH, AAXJ, FXY