US-Iran Ceasefire Holds; Apple Weighs Using Intel, Samsung for Processors | Bloomberg Brief 5/5/2026

Summary

The Bloomberg Brief covers the fragile US-Iran ceasefire after overnight clashes, Apple's preliminary talks with Intel and Samsung for chip production, and market reactions with equity futures higher and oil easing. Bond yields remain elevated near 5% on the 30-year, with Allspring's Henrietta Pacquement discussing yield levels and the labor market. PIMCO's Christian Stracke highlights the demand for geographic diversification away from the US.

• US-Iran ceasefire holds after attacks, but tensions remain high in the Strait of Hormuz.
• Apple is in early talks with Intel and Samsung to produce chips as a backup to TSMC.
• US equity futures point higher, with the Nasdaq outperforming the equal-weight S&P 500.
• Brent crude remains above $110 despite easing from intraday highs.
• Bond yields are near 5% on the 30-year and approaching 4.50% on the 10-year.
• Allspring's Henrietta Pacquement sees gradual labor market softening and prefers intermediate bond duration.
• PIMCO's Christian Stracke notes a structural shift toward diversifying away from US assets.
• Earnings movers: Intel and Pinterest up, ON Semiconductor and Duolingo down.