Asia bears the cost as US and Iran locked in standoff | Insight with Haslinda Amin 04/23/2026

Watch on YouTube ↗  |  April 23, 2026 at 07:09  |  47:11  |  Bloomberg Markets
Speakers
Aparna Bharadwaj — CNBC host
Mark Cranfield — Cross Asset Strategist, Bloomberg
Haslinda Amin — Anchor, Bloomberg Television

Summary

The video covers the US-Iran standoff over the Strait of Hormuz, with oil prices above $100 and prolonged disruption expected. Asian economies, especially net oil importers like Thailand, face headwinds. The Thai stock market has rallied on political stability, but Delta Thailand's extreme valuation raises concerns. Defensive rotation into short-term Treasuries is noted.

  • US and Iran remain locked in a standoff over the Strait of Hormuz, choking traffic.
  • Brent crude stays above $100 as recovery from the disruption could take months to years.
  • Asian equity markets reverse gains on oil price concerns, with tech and AI stocks vulnerable.
  • Thailand's SET index has outperformed ASEAN peers, up 18% year-to-date on government stability.
  • Delta Thailand trades at 150x P/E, leading the exchange to impose cash trading requirements.
  • Investors are rotating into cash and short-term Treasuries amid oil price uncertainty.
  • India's high-stakes state elections in West Bengal are underway, with energy costs a voter issue.
Trade Ideas
Aparna Bharadwaj CNBC host 18:21
Oil supply constrained for months to years
The Strait of Hormuz disruption will take months to years to fully resolve, with mine clearing taking two months, LNG repairs two years, and aluminum smelting 6-12 months, keeping oil supply constrained and Brent crude prices elevated above $100 for an extended period.
BNO MED
Mark Cranfield Cross Asset Strategist, Bloomberg 22:46
Investors rotate to short-term Treasuries
When oil spikes above $100, investors become uncertain about the top of the risk curve and move into cash and short-term Treasuries for safety, creating a defensive rotation into short-dated US government bonds.
US Treasury 2-year note MED
Asadej Kongsiri 32:28
Delta Thailand overvalued at 150x P/E
Delta Thailand trades at 150x P/E, far above rational fundamentals compared to global peers, and the exchange has imposed cash trading requirements due to excessive speculation, making the stock overvalued and risky.
Delta Thailand (DELTA) HIGH
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This Bloomberg Markets video, published April 23, 2026, features Aparna Bharadwaj, Mark Cranfield, Asadej Kongsiri discussing BNO, US Treasury 2-year note, Delta Thailand (DELTA). 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Aparna Bharadwaj, Mark Cranfield, Asadej Kongsiri  · Tickers: BNO, US Treasury 2-year note, Delta Thailand (DELTA)