Trump Says Pharma Companies Commit To Lowering Prices | Balance of Power 08/31/2026

Watch on YouTube ↗  |  August 31, 2026 at 23:25  |  47:56  |  Bloomberg Markets
Speakers
Jensen Huang — CEO, NVIDIA
Rebecca Patterson — Senior Fellow at the Council on Foreign Relations, former Chief Investment Strategist at Bridgewater Associates
Dan Brouillette — Former US Energy Secretary
Tim Moore — U.S. Representative, North Carolina
Isabel Lee — Bloomberg Reporter
Mica Soellner — Bloomberg Government Senior White House Reporter

Summary

The episode covers Iran-related oil price pressure, US government funding and debt concerns, and the bond market selloff. Rebecca Patterson argues long-dated Treasury yields are being kept high by AI/corporate issuance competition and fiscal/inflation forces. Former Energy Secretary Dan Brouillette says Venezuela's oil deal won't lower US gasoline near term because of refining bottlenecks, while oil demand stays strong. The show also features Nvidia/MediaTek investment commentary and US political midterm discussions.

  • U.S.-Iran strikes renewed, keeping upward pressure on oil and delaying Strait of Hormuz reopening.
  • Rep. Tim Moore expects the continuing resolution to pass and avoid a shutdown through December 12.
  • Rebecca Patterson sees AI infrastructure debt competing with Treasuries and keeping long-term yields elevated.
  • Patterson says durably lower yields require Hormuz reopening, fiscal restraint, intervention, or a slowdown.
  • Dan Brouillette warns U.S. refining/pipeline bottlenecks mean Venezuelan oil won't cut gasoline prices near term.
  • Brouillette notes world oil demand is still rising and shippers need the Iran threat eliminated before Hormuz transit normalizes.
  • Jensen Huang highlights MediaTek as the world's best SoC maker amid Nvidia's $3.5 billion investment.
  • Political segments cover Michigan and Massachusetts primaries and Trump approval as a midterm driver.
Ideas
Jensen Huang CEO, NVIDIA 16:02
MediaTek world's best SoC, deep partnership.
MediaTek is already highly profitable and the world's best SoC maker; Nvidia's $3.5 billion investment is grounded in a deep multi-year partnership, not circular because the two companies run their own businesses.
2454.TW HIGH
Rebecca Patterson Senior Fellow at the Council on Foreign Relations, former Chief Investment Strategist at Bridgewater Associates 20:43
AI corporate debt crowding out Treasuries.
Higher-yielding corporate and AI infrastructure bonds are pulling demand away from Treasuries while the U.S. needs to fund a roughly $2 trillion deficit; combined with strong growth and sticky inflation that could push the Fed to raise rates, these supply/demand forces keep long-dated Treasury yields elevated.
TLT HIGH
Rebecca Patterson Senior Fellow at the Council on Foreign Relations, former Chief Investment Strategist at Bridgewater Associates 20:43
AI corporate debt crowding out Treasuries.
Higher-yielding corporate and AI infrastructure bonds are pulling demand away from Treasuries while the U.S. needs to fund a roughly $2 trillion deficit; combined with strong growth and sticky inflation that could push the Fed to raise rates, these supply/demand forces keep long-dated Treasury yields elevated.
AI infrastructure bonds HIGH
Dan Brouillette Former US Energy Secretary 26:31
Refining bottleneck keeps gasoline prices elevated.
Additional Venezuelan heavy crude cannot lower U.S. gasoline prices near term because U.S. refineries are running at about 98% capacity, no new refinery has been added in 30 years, and the U.S. needs more refining and pipeline capacity.
U.S. gasoline HIGH
Dan Brouillette Former US Energy Secretary 33:13
World oil demand keeps rising.
World oil demand continues to rise rather than fall, so the industry will keep building both alternative infrastructure around the Strait of Hormuz and additional capacity to meet that demand.
WTI MED
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This Bloomberg Markets video, published August 31, 2026, features Jensen Huang, Rebecca Patterson, Dan Brouillette discussing 2454.TW, TLT, AI infrastructure bonds, U.S. gasoline, WTI. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jensen Huang, Rebecca Patterson, Dan Brouillette  · Tickers: 2454.TW, TLT, AI infrastructure bonds, U.S. gasoline, WTI