Oil Tops $100 as US-Iran Conflict Escalates | The Pulse 9/9/2026

Watch on YouTube ↗  |  September 09, 2026 at 10:37  |  48:41  |  Bloomberg Markets
Speakers
Charlie Wells — Bloomberg Reporter
Scott Bessent — Treasury Secretary
Adam Posen — President, Peterson Institute for International Economics
Patrick Thomson — CEO, JPMorgan Asset Management EMEA
Matthew — Technology Analyst, Bloomberg Intelligence
Andrew — Columnist, Bloomberg Opinion

Summary

The video covers market fallout from the US-Iran conflict as Brent crude tops $100 and energy supply risks rise. It also features Treasury Secretary Bessent's warning on yen intervention, Adam Posen's views on rising global yields and BOJ rate hikes, and JPMorgan's Patrick Thomson urging investors to stay invested and focused on fixed income and private markets. Later segments discuss Apple's foldable iPhone launch and a retail analyst's view that Zara's owner can outperform.

  • Brent crude tops $100 after US forces destroy Iranian tankers, with Dutch natural gas also pressured by Hormuz supply fears.
  • Scott Bessent says yen intervention has asymmetric information and dares traders to bet against him.
  • Adam Posen ties the global bond yield surge to AI, defense spending, deficits and reduced Chinese Treasury demand.
  • Adam Posen expects BOJ rate hikes, not US Treasury posturing, to stabilize the yen.
  • Patrick Thomson says fixed income is back and infrastructure/private markets are attractive long-term opportunities.
  • Apple is set to unveil a roughly $2,000 foldable iPhone; a Bloomberg Intelligence analyst sees it supporting Apple growth and services.
  • A Bloomberg Opinion retail analyst argues Zara's owner can outperform rivals despite cost pressures.
Ideas
Charlie Wells Bloomberg Reporter 1:19
Middle East escalation lifts oil and gas.
US destruction of five Iranian crude tankers and Iranian retaliation mark a major escalation that is putting upward pressure on oil, with Brent topping $100. It is not just crude: the spread between Dutch natural gas and Brent shows traders are concerned about Strait of Hormuz supply, which carries about one-fifth of LNG in peacetime, and European heating-season demand is coming into focus.
BNO HIGH
Scott Bessent Treasury Secretary 2:44
Do not bet against yen intervention.
He thinks the yen will stabilize because Japanese policymakers will allow the BOJ to raise rates, not because of US Treasury posturing. Japan has a genuine inflation problem with wage and price increases in small/medium businesses, labor shortages, and changed inflation pass-through, so BOJ hikes ultimately put a floor under the yen.
FXY HIGH
Patrick Thomson CEO, JPMorgan Asset Management EMEA 5:27
Fixed income is back; stay diversified.
Yields have backed up enough that fixed income is back as an asset class; investors should take advantage of it, stay invested, and stay diversified. Government borrowing is high and inflationary, but active fixed-income management can be selective and deliver better outcomes.
TLT MED
Patrick Thomson CEO, JPMorgan Asset Management EMEA 9:32
Infrastructure and private markets look attractive.
Private markets and alternatives are a big growth area because private companies are staying private longer, and infrastructure is very attractive for long-term savers: there is a huge need for better-capitalized infrastructure and it provides decent returns while diversifying against fixed income and equities.
PAVE Private markets MED
Adam Posen President, Peterson Institute for International Economics 14:54
Real rates can push bond yields higher.
Global bond yields are rising because of fundamental forces pushing real interest rates higher: rising returns on AI, rising defense spending, populist/polarized policies with no tax restraint, and China channeling fewer savings into Treasuries. He says rates can keep going higher, not a crisis yet but a bad cycle where interest payments and refinancing crowd out other spending.
Global government bonds HIGH
Matthew Technology Analyst, Bloomberg Intelligence 44:14
Foldable iPhone supports Apple growth.
Apple is on a great run with forward growth expectations depending on its hardware roadmap, and the foldable iPhone is the first significant phone departure in years; it should be very popular even at $2,000-plus and support services revenue, with the foldable segment dominated by Samsung and Huawei but Apple can bring it into the limelight.
AAPL MED
Andrew Columnist, Bloomberg Opinion 47:34
Zara owner can outperform despite costs.
Zara's owner can outperform rivals despite first-half earnings missing expectations because its fashion positioning has come back strongly after luxury pushed prices up; its new low-cost/fashionable concept, such as the Liverpool store, can disrupt the bottom end and sales growth can make up for higher expenses.
ITX.MC MED
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This Bloomberg Markets video, published September 09, 2026, features Charlie Wells, Scott Bessent, Patrick Thomson, Adam Posen, Matthew, Andrew discussing BNO, FXY, TLT, PAVE, Private markets, Global government bonds, AAPL, ITX.MC. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Charlie Wells, Scott Bessent, Patrick Thomson, Adam Posen, Matthew, Andrew  · Tickers: BNO, FXY, TLT, PAVE, Private markets, Global government bonds, AAPL, ITX.MC