Greenland Deal 'Framework’; Exclusive With Lebanon's PM | Horizons Middle East & Africa 1/22/2025

Watch on YouTube ↗  |  January 22, 2026 at 08:21  |  46:04  |  Bloomberg Markets
Speakers
Matthew Ryan — Head of Market Strategy
Trinh Nguyen — Senior Economist for Emerging Asia, Natixis
Amir Yaron — Governor, Bank of Israel
Lesetja Kganyago — South African Reserve Bank Governor
Rafael Grossi — Director General, IAEA
Nawaf Salam — Prime Minister of Lebanon
Ali Al-Kuwari — Finance Minister of Qatar
Jennifer Zabasajja — Chief Africa Correspondent, Bloomberg

Summary

The video covers markets rallying after President Trump backs down from European tariff threats tied to Greenland, with equities higher, bonds stable, and gold holding gains. Guests discuss the implications for Europe and the euro, long-term yields, Asia EM divergence, Japan's bond yields, Middle East geopolitics including Iran and Lebanon, and South African monetary policy. The show also features Davos interviews on Gaza, Qatar gas deals, and central bank independence.

  • Trump backs down on Greenland-related European tariff threats, citing a framework; markets rally.
  • Matthew Ryan remains bullish on Europe and the euro, sees long-term yields elevated.
  • Trinh Nguyen highlights Asian divergence from AI/memory, JGB yields, and Indonesia's weak tech export exposure.
  • IAEA's Grossi says Iran nuclear situation remains fragile but dialogue is open.
  • Lebanon PM says state controls south Litani and reforms continue; IMF banking law still needs amendments.
  • Bank of Israel governor sees stability boosting Israeli and regional growth.
  • Qatar finance minister sees potential for more European gas deals.
  • South Africa's central bank governor sees benign inflation and room for rate cuts.
Ideas
Matthew Ryan Head of Market Strategy 16:00
Bullish Europe and euro on tariff relief.
Trump's tariff U-turn removes a major downside risk to euro-area growth and supports risk appetite, reinforcing Ebury's bullish view on Europe and especially the euro, which they see as well placed this year.
VGK FXE HIGH
Matthew Ryan Head of Market Strategy 16:40
Long-term yields elevated; bonds unattractive.
Governments continue to run large deficits and high debt-to-GDP ratios while aging populations and welfare spending keep borrowing high; with elevated inflation expectations and Fed-independence concerns, long-term yields are likely to stay elevated or move higher, and a sharp aggressive yield spike is the key market risk.
TLT MED
Amir Yaron Governor, Bank of Israel 32:42
Stability supports Israeli economic growth.
If stability and Gaza rehabilitation are achieved, the Israeli economy should continue to perform well and unlock broader regional growth and arrangements.
EIS MED
Trinh Nguyen Senior Economist for Emerging Asia, Natixis 37:29
JGB yields pressure EM funding.
Rising JGB yields are not just a domestic Japan story; they push up yields across countries more dependent on foreign investors, including EM countries that need foreign funding, until Fed cuts relieve pressure on JGBs, the yen, and EM funding.
Japanese government bonds MED
Trinh Nguyen Senior Economist for Emerging Asia, Natixis 39:18
AI memory lifts tech-export winners.
AI demand has driven semiconductor, especially memory, prices higher, but the gains are uneven; countries and companies with a strong tech export mix should see better earnings and exports, while those with low tech exposure lag.
DRAM MED
Trinh Nguyen Senior Economist for Emerging Asia, Natixis 39:51
Indonesia lacks AI export support.
Indonesia's small tech export share means it gets less support from the AI/memory boom and, as a domestic-demand story reliant on market funding, it may have to pay more to fund debt; it could become more attractive if AI slows.
EIDO MED
Lesetja Kganyago South African Reserve Bank Governor 43:42
South Africa rate cuts support bonds.
South African inflation is expected to remain contained and converge to target by 2027, leaving room for rate cuts; the SARB forecasts two cuts, which should support South African bonds.
South African Government Bonds MED
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This Bloomberg Markets video, published January 22, 2026, features Matthew Ryan, Amir Yaron, Trinh Nguyen, Lesetja Kganyago discussing VGK, FXE, TLT, EIS, Japanese government bonds, DRAM, EIDO, South African Government Bonds. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Matthew Ryan, Amir Yaron, Trinh Nguyen, Lesetja Kganyago  · Tickers: VGK, FXE, TLT, EIS, Japanese government bonds, DRAM, EIDO, South African Government Bonds