US Core Inflation Comes in Soft, Anthropic in Talks to Buy Decart AI | The Opening Trade 8/13/2026

Watch on YouTube ↗ | August 13, 2026 at 11:41 | 1:35:10 | Bloomberg Markets

Speakers

Sree Kochugovindan — Senior Research Economist, Aberdeen Investments

Henrik Andersson — CEO, Vestas Wind Systems

Vincent Clerc — CEO, Maersk

Fabiana Fedeli — CIO of Equities, Multi-Asset and Sustainability, M&G Investment Management

Adam Linton — Markets Live Strategist, Bloomberg

Guy Johnson — Anchor, Bloomberg

Brendan Murray — Trade Reporter, Bloomberg

Laura Noonan — Global Finance Reporter, Bloomberg

Anton Osika — CEO, Lovable

Summary

The European trading session opens with a focus on resilient corporate earnings and easing US inflation data. Shipping and logistics face ongoing capacity constraints and climate-driven bottlenecks, keeping freight rates elevated and supporting companies like Maersk. Meanwhile, market participants weigh the risks of high index concentration against opportunities in stock picking, particularly in overlooked software and auto-component names pivoting to AI.

US core inflation prints in line with expectations, easing pressure on the Fed.
Maersk and Vestas report strong earnings, signaling robust demand and successful turnarounds.
Container shipping faces sustained capacity bottlenecks driven by Asian export demand for electrification.
European inland waterways, such as the Rhine, suffer from record-low water levels, threatening industrial supply chains.
The Bank of Japan is expected to consider a rate hike in September, potentially supporting the Yen.
High concentration in major equity indices prompts a preference for active stock picking in under-owned sectors.

Ideas

Sree Kochugovindan Senior Research Economist, Aberdeen Investments 18:00

Attractive US Treasury yields will remain elevated.

US Treasury yields are currently at very attractive levels and seeing strong demand, though massive ongoing issuance from the government and corporates will likely keep yields elevated within a range rather than ratcheting significantly higher.

Sree Kochugovindan Senior Research Economist, Aberdeen Investments 19:57

BOJ rate hikes will support the Yen.

The Bank of Japan is likely to hike rates at its September meeting, which will provide the necessary fundamental shift in rate differentials to support the Japanese Yen, unlike previous temporary currency interventions.

Sree Kochugovindan Senior Research Economist, Aberdeen Investments 21:32

Domestic flows make the Nikkei very attractive.

The AI hardware and tech trade across South Korea, Japan, and Taiwan is resuming a healthy rally following a valuation reset and the flushing out of retail leverage, supported by strong earnings and a lack of immediate macro headwinds.

Henrik Andersson CEO, Vestas Wind Systems 25:44

Turnaround execution drives margin expansion for Vestas.

Vestas has successfully executed its turnaround, mitigating supply chain challenges and returning cash to shareholders, putting the company on a clear path toward its 10% EBIT margin target as long-term electricity demand and pricing remain structurally supportive.

Vincent Clerc CEO, Maersk 34:29

Capacity bottlenecks and strong demand support shipping.

Container shipping faces a benign, structurally supportive environment as resilient global demand—particularly for Asian exports tied to electrification and data centers—stretches global terminal and landside capacity, keeping freight rates elevated despite ongoing volatility.

Fabiana Fedeli CIO of Equities, Multi-Asset and Sustainability, M&G Investment Management 50:34

High concentration makes major equity indices risky.

Major equity indices like the S&P 500 and Asian benchmarks have become overly concentrated in a small handful of mega-cap stocks, making broad index exposure riskier and less attractive than active stock picking.

Fabiana Fedeli CIO of Equities, Multi-Asset and Sustainability, M&G Investment Management 53:51

Sold-off software stocks offer strong earnings upside.

Software companies that were previously sold off as 'AI losers' are currently under-owned but are delivering strong earnings and starting to see operational benefits and revenue impacts from integrating AI.

Fabiana Fedeli CIO of Equities, Multi-Asset and Sustainability, M&G Investment Management 54:58

Auto component makers shifting to data centers.

Certain companies within the auto supply chain, particularly those focused on connectivity and components, have successfully pivoted to supply data centers, creating an unappreciated growth opportunity that the broader market has missed.

Fabiana Fedeli CIO of Equities, Multi-Asset and Sustainability, M&G Investment Management 55:37

Monitor the credit quality of AI hyperscalers.

The credit quality of large AI hyperscalers requires close monitoring, as their massive capital expenditures are increasingly financed by credit and off-balance-sheet deals, which could eventually pressure their balance sheets and lead to a reversal in credit quality.

Adam Linton Markets Live Strategist, Bloomberg 92:13

Asian AI tech stocks resume healthy rally.

The AI hardware and tech trade across South Korea, Japan, and Taiwan is resuming a healthy rally following a valuation reset and the flushing out of retail leverage, supported by strong earnings and a lack of immediate macro headwinds.

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This Bloomberg Markets video, published August 13, 2026, features Sree Kochugovindan, Henrik Andersson, Vincent Clerc, Fabiana Fedeli, Adam Linton discussing TLT, JPY, EWJ, VWS.CO, MAERSK, Container Shipping, AAXJ, SPY, IGV, Auto supply chain, AI Hyperscaler Credit, EWY, Asian Tech, Taiwanese equities. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Sree Kochugovindan, Henrik Andersson, Vincent Clerc, Fabiana Fedeli, Adam Linton · Tickers: TLT, JPY, EWJ, VWS.CO, MAERSK, Container Shipping, AAXJ, SPY, IGV, Auto supply chain, AI Hyperscaler Credit, EWY, Asian Tech, Taiwanese equities