China Calls for Hormuz Reopening | The China Show 5/15/2026
Speakers
Mark Cudmore
— Executive Editor, Bloomberg Live / Macro Strategist
David Ingles
— Anchor, Bloomberg
Abhishek Vishnoi
— Senior Asia Equities Editor
Summary
The China Show covers the Trump-Xi summit with analysis on Taiwan, trade deals, and market implications. Markets reverse as focus returns to Strait of Hormuz and rising yields. Guests discuss business outlook and trade tensions. Mark Cudmore expects a bearish inflection point with higher dollar and yields, lower gold and risk assets.
- Trump-Xi summit concludes with warm tones but limited concrete deliverables.
- Taiwan remains a key risk as Xi issues strong warning.
- Markets reverse as summit excitement fades, yields and dollar rise.
- J.P. Morgan upgrades Taiwan index with 50,000 bull case.
- Chinese chip stocks trade at extreme valuations; shorts constrained.
- Businesses face tariff uncertainty and inflation from energy costs.
- U.S. Trade Representative Greer discusses soybean, beef, and chip deals.
- Mark Cudmore predicts tactical stock pullback, higher yields, and lower gold.
Ideas
Gold to decline on stronger dollar.
Higher yields and a stronger dollar are negative for precious metals like gold. The macro environment points to lower risk assets and lower precious metals as the market refocuses on inflation and supply distortions.
Dollar-yen fundamentally headed higher.
The dollar is breaking out as yields rise across the board, and the fundamental path for dollar-yen is higher. The only factor holding it back is fear of BOJ intervention, but any intervention would be a buying opportunity as the pair will go much higher. The Fed is not cutting and may hike, supporting the dollar.
Up Next
This Bloomberg Markets video, published May 15, 2026, features Mark Cudmore discussing GLD, USD/JPY. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Mark Cudmore · Tickers: GLD, USD/JPY