US Strikes Iran Again in Trump Escalation | The Asia Trade 6/11/2026

Watch on YouTube ↗  |  June 11, 2026 at 04:18  |  1:35:12  |  Bloomberg Markets
Speakers
Shery Ahn — Anchor, Bloomberg Television
Haidi Stroud-Watts — Anchor, Bloomberg
Mike Wilson — Chief Investment Officer, Morgan Stanley
PIMCO — Asset Manager
Ruth Carson — Correspondent, Singapore
Hebe Chen — Head of Research, The Block
Shuli Ren — Opinion Columnist, Bloomberg

Summary

The US launches fresh strikes on Iran for a second day, threatening the fragile ceasefire and closing the Strait of Hormuz. Oil surges, US inflation hits a three-year high, and a tech selloff deepens ahead of the massive SpaceX IPO. The Bank of Japan governor's hospitalisation adds uncertainty to a likely rate hike, while the yen stays weak near 160 per dollar. A squawk of calls from Morgan Stanley, PIMCO and others navigate the cross-currents.

  • US conducts second day of strikes on Iran, Strait of Hormuz reportedly closed to vessels, sending oil sharply higher.
  • US CPI accelerates to a three-year high, with energy the main driver, complicating the Fed's rate path.
  • Asian tech under heavy selling pressure as the SpaceX IPO drains liquidity and AI spending fears grow.
  • Japanese yen stuck at 160, with a dovish BOJ hike expected to accelerate yen selling and raise intervention risk.
  • Australian energy names buck the downtrend, rallying over 2% on the oil spike.
  • Morgan Stanley's Mike Wilson sees the market weakness as a correction, not a trend change, and expects stocks to rise into year-end.
  • PIMCO urges owning intermediate-dated bonds, warning that AI spending may trigger a credit loss cycle for weaker borrowers.
Ideas
Shery Ahn Anchor, Bloomberg Television 1:44
Oil prices rising on Iran conflict.
The US has launched fresh strikes on Iran and the Strait of Hormuz is threatened with closure, disrupting Middle East oil flows and pushing crude prices higher. The renewed escalation makes further supply disruptions likely, keeping upward pressure on oil.
WTI BNO HIGH
Ruth Carson Correspondent, Singapore 12:29
Yen to weaken further on rate gaps.
Multiple factors are working against the Japanese yen: high US rates, wide rate differentials, a likely dovish BOJ hike that will not support the currency, weak JGB auction demand, and persistent trader bets against the yen, with intervention risks unlikely to deter selling pressure.
FXY HIGH
Ruth Carson Correspondent, Singapore 14:33
Dollar king as rates stay high.
The US dollar is undisputedly the world's reserve currency, benefiting from very high US rates, the US's status as a top oil exporter, and global risk aversion. Virtually all other currencies are under pressure, making the dollar the king in this environment.
US Dollar Index (DXY) HIGH
PIMCO Asset Manager 79:25
Own intermediate-dated bonds for yield.
A credit loss cycle could come as AI spending hits lower-quality borrowers. PIMCO advocates owning intermediate-dated bonds, which appear well compensated in the current environment.
Intermediate-dated U.S. Treasuries MED
Mike Wilson Chief Investment Officer, Morgan Stanley 79:48
S&P 500 to rise into year-end.
Current market weakness is a correction, not a change in trajectory. Forward earnings will continue to rise next year, and stocks should climb into year-end.
SPY HIGH
Haidi Stroud-Watts Anchor, Bloomberg 82:01
Australian energy stocks surge on oil.
Australian energy stocks like Woodside Energy and Santos are outperforming on the back of surging oil prices caused by renewed US-Iran hostilities and fears that global energy supply disruptions will worsen.
WDS Santos MED
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This Bloomberg Markets video, published June 11, 2026, features Shery Ahn, Ruth Carson, PIMCO, Mike Wilson, Haidi Stroud-Watts discussing WTI, BNO, FXY, US Dollar Index (DXY), Intermediate-dated U.S. Treasuries, SPY, WDS, Santos. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Shery Ahn, Ruth Carson, PIMCO, Mike Wilson, Haidi Stroud-Watts  · Tickers: WTI, BNO, FXY, US Dollar Index (DXY), Intermediate-dated U.S. Treasuries, SPY, WDS, Santos