Jordan Intercepts 5 Iranian Missiles as Iran War Escalates | Horizons Middle East & Africa 7/30/2026

Watch on YouTube ↗  |  July 30, 2026 at 06:44  |  46:02  |  Bloomberg Markets
Speakers
Rachana Mehta — Head of Regional Fixed Income at May Bank Asset Management
Josh Gilbert — eToro APAC & Middle East Lead Analyst
Abdulla Ateya Al Messabi — CEO, ADNOC Drilling
Thomas Stofer — CFO, Airbus
Jennifer Zabasajja — Chief Africa Correspondent, Bloomberg
Avril Hong — Reporter, Bloomberg Markets
Abeer Abu Omar — Reporter, Bloomberg London

Summary

Markets react to fresh US-Iran strikes with Brent crude near $90 and US 30-year yields at a 19-year high after a hawkish Fed hold. Tech earnings show a sharp divergence: Microsoft rallies on cloud strength while Meta sells off on weak guidance, prompting calls to rotate into memory chip stocks. Fixed income strategists favor Aussie and renminbi bonds over USD bonds for carry, while corporate highlights include ADNOC Drilling's resilient profit, Airbus's cost discipline, and Anglo American's low-price De Beers sale amid a diamond slump.

  • US launches new strikes on Iran as tensions over Strait of Hormuz persist; Brent crude near $90.
  • Fed holds rates with three dissents; 30-year Treasury yields surge to highest since 2007.
  • Microsoft reports fastest cloud growth since 2022, shares rally; Meta's weak sales outlook sparks selloff.
  • Memory chip stocks (Samsung, SK hynix, Micron) seen as beneficiaries of AI capex rotation.
  • Fixed income strategy favors Aussie dollar and renminbi bonds over volatile US dollar bonds.
  • ADNOC Drilling beats profit estimates on disciplined execution and AI efficiency.
  • Airbus CFO highlights cost containment and margin expansion targets.
  • Anglo American in talks to sell De Beers at a fraction of former worth amid diamond industry crisis.
Ideas
Rachana Mehta Head of Regional Fixed Income at May Bank Asset Management 11:25
Rotate into Aussie and renminbi bonds.
US dollar bond market is too volatile due to high rate uncertainty and long-term fiscal deficits. Portfolio managers are rotating into Australian dollar and Chinese renminbi bonds to earn carry with lower currency volatility. Tencent's recent 10-year renminbi bond held its value better than the equivalent US dollar bond, illustrating the advantage.
Aussie dollar bonds Chinese renminbi bonds MED
Abdulla Ateya Al Messabi CEO, ADNOC Drilling 17:24
ADNOC Drilling resilient with AI efficiency.
ADNOC Drilling is demonstrating disciplined execution, reducing nonproductive time by 60%, delivering assets ahead of schedule, and using AI to set a benchmark in drilling efficiency. The company is resilient against geopolitical turmoil, expanding regionally, and committed to sustainable long-term shareholder value.
ADNOC Drilling MED
Josh Gilbert eToro APAC & Middle East Lead Analyst 30:19
Microsoft disciplined AI capex boosts cash flow.
Microsoft delivered the template for disciplined AI capex: capital expenditure up 70% but cash flow beat expectations by 40%, showing it can fund the buildout without bleeding cash. Strong cloud growth and accelerating co-pilot adoption support a positive outlook.
MSFT HIGH
Josh Gilbert eToro APAC & Middle East Lead Analyst 31:23
Meta overspends on AI with weak guidance.
Meta's core business is not broken, but the market is punishing heavy AI capex without clear near-term monetization. Revenue guidance came in below forecasts, margins are falling, free cash flow is declining, and management keeps revising capex higher, reminiscent of past Metaverse overspend, making it hard to justify the stock.
META HIGH
Josh Gilbert eToro APAC & Middle East Lead Analyst 33:15
Memory chips win from AI capex rotation.
Hyperscaler AI capex is flowing downstream into semiconductor memory names that are printing huge returns. Stocks like Samsung, SK hynix, and Micron benefit from the infrastructure buildout and bottlenecks, with the market rotating out of hyperscalers into these suppliers.
005930.KS 000660.KS MU HIGH
Thomas Stofer CFO, Airbus 36:50
Airbus cost discipline drives margin expansion.
Airbus has been successful with cost containment programs, keeping cost growth below revenue growth to drive margin expansion toward 2029 targets. The company is also pursuing bolt-on acquisitions to strengthen commercial aircraft services and defense capabilities, supporting a positive margin and growth outlook.
AIR.PA MED
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This Bloomberg Markets video, published July 30, 2026, features Rachana Mehta, Abdulla Ateya Al Messabi, Josh Gilbert, Thomas Stofer discussing Aussie dollar bonds, Chinese renminbi bonds, ADNOC Drilling, MSFT, META, 005930.KS, 000660.KS, MU, AIR.PA. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Rachana Mehta, Abdulla Ateya Al Messabi, Josh Gilbert, Thomas Stofer  · Tickers: Aussie dollar bonds, Chinese renminbi bonds, ADNOC Drilling, MSFT, META, 005930.KS, 000660.KS, MU, AIR.PA