Trump reviews Iran plan; China blocks Meta-Manus deal | Horizons Middle East & Africa 4/28/2026

Watch on YouTube ↗  |  April 28, 2026 at 06:42  |  45:26  |  Bloomberg Markets
Speakers
Manpreet Gill — Reporter, Financial Times
Joumanna Bercetche — Anchor, Bloomberg

Summary

The video covers the White House reviewing Iran’s peace proposal, the Bank of Japan holding rates with a hawkish split, and China blocking Meta’s $2B acquisition of AI startup Manus. Market implications include elevated oil prices due to the Hormuz blockade, a stronger yen bias from BOJ tightening, and rising stagflation risks affecting central bank policy globally.

  • Iran peace proposal under White House review; Strait of Hormuz effectively closed with only one LNG cargo passing through.
  • Bank of Japan leaves rates unchanged but in a 6-3 split, upgrading inflation forecasts and hinting at a possible June hike.
  • China blocks Meta’s acquisition of AI firm Manus, forcing an unwind on national security grounds.
  • Trump hosts King Charles amid strained UK-US relations over the Iran war and trade deal disagreements.
  • Oil remains elevated near $110, with analysts debating whether $100 oil is an economy killer.
  • Central banks face an inflationary supply shock; markets reprice front-end yields higher in the UK and Japan.
  • Manpreet Gill from Standard Chartered recommends buying EM short-duration high yield bonds and hedges like TIPS and gold.
  • The yen is seen as undervalued and likely to strengthen over 12-18 months as BOJ continues hiking.
Trade Ideas
Manpreet Gill Reporter, Financial Times 14:16
Yen undervalued, will strengthen as BOJ hikes.
The yen is one of the most undervalued currencies. As the Bank of Japan keeps hiking rates and the rate gap with the US and Europe narrows, the yen should strengthen significantly over a 12-18 month horizon.
Japanese Yen (JPY) HIGH
Manpreet Gill Reporter, Financial Times 17:30
Buy EM short-duration high yield bonds.
Markets are pricing in too much hawkishness, keeping yields higher than justified. Locking in yields on emerging market short-duration high yield bonds offers attractive carry and a good risk/reward.
Emerging Market Short-Duration High Yield Bonds MED
Manpreet Gill Reporter, Financial Times 19:12
TIPS hedge stagflation risk.
If stagflationary risks rise, inflation expectations will rise first. Treasury Inflation-Protected Securities (TIPS) are a good hedge against that scenario.
TIPS (Treasury Inflation-Protected Securities) MED
Manpreet Gill Reporter, Financial Times 19:24
Gold is a good hedge.
Gold is a good asset to own if stagflationary risks continue to rise, providing a portfolio hedge.
GOLD MED
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This Bloomberg Markets video, published April 28, 2026, features Manpreet Gill discussing Japanese Yen (JPY), Emerging Market Short-Duration High Yield Bonds, TIPS (Treasury Inflation-Protected Securities), GOLD. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Manpreet Gill  · Tickers: Japanese Yen (JPY), Emerging Market Short-Duration High Yield Bonds, TIPS (Treasury Inflation-Protected Securities), GOLD