Stocks Extend Gains on Trump Comments | The Close 4/13/2026

Watch on YouTube ↗  |  April 13, 2026 at 22:22  |  1:32:45  |  Bloomberg Markets
Speakers
Paul Christopher — Head of Global Markets Strategy at Wells Fargo
Thomas Michaud — CEO, KBW
Kyle Bass — Founder, Hayman Capital Management
Kim Forrest — CIO, Bokeh Capital Partners
Aaron Mulvihill — Head of Content, Blockworks
Scott Siefers — Reporter, CoinDesk
Woo Jin Ho — Analyst, Bloomberg Intelligence (Hardware)

Summary

The S&P 500 rallied, erasing losses from the U.S.-Iran conflict, on renewed hopes for a deal after President Trump's comments. The show featured strategists and CEOs discussing sector opportunities in financials, software, real estate, infrastructure, and shipping amid ongoing geopolitical risks. Bank earnings season kicked off with mixed results from Goldman Sachs, while broader market sentiment remained resilient.

  • S&P 500 closed higher, reversing conflict-related losses on Trump's comments about a potential Iran deal.
  • Guests discussed investment themes: overweight financials, barbell fixed income, bullish on U.S. assets, software, real estate, infrastructure, and shipping.
  • Geopolitical analysis focused on the Strait of Hormuz blockade, its economic impact, and prolonged conflict risks.
  • Bank earnings season began with Goldman Sachs reporting strong equity trading but weak bond trading revenue.
  • AI disruption and private credit exposures were noted as key concerns for software and bank stocks.
  • Texas growth and the potential Texas Stock Exchange were highlighted as regional investment stories.
  • Alternative assets like real estate and infrastructure were pitched as inflation hedges.
  • Market complacency was questioned despite ongoing Middle East tensions and elevated oil prices.
Trade Ideas
Paul Christopher Head of Global Markets Strategy at Wells Fargo 5:45
Overweight financials due to economic growth.
Banks are in excellent shape with strong balance sheets, historic regulatory reform, and are about to recapture market share from private credit. The stocks are inexpensive relative to history. Geopolitical risks have not yet impacted credit quality or loan growth, and any economic slowdown is not seen as a crisis.
KBE MED
Paul Christopher Head of Global Markets Strategy at Wells Fargo 7:01
Barbell fixed income: favor intermediate-term bonds.
Favor intermediate-term bonds, avoid short-term and long-term bonds. Short-term bonds could see downside as the Fed eventually cuts rates due to economic friction from oil prices. Long-term bonds face upside volatility from inflation and budget concerns related to the war.
IEI MED
Paul Christopher Head of Global Markets Strategy at Wells Fargo 7:01
Barbell fixed income: favor intermediate-term bonds.
Favor intermediate-term bonds, avoid short-term and long-term bonds. Short-term bonds could see downside as the Fed eventually cuts rates due to economic friction from oil prices. Long-term bonds face upside volatility from inflation and budget concerns related to the war.
SHY TLT MED
Kyle Bass Founder, Hayman Capital Management 28:39
Favor U.S. assets due to global instability.
The U.S. has the deepest, most effective capital markets in the world, representing over 60% of global market cap. With more global conflict and fragile financial architecture, assets will concentrate in the U.S. Investors should stick with dollar-based investing and U.S. assets.
SPY MED
Kim Forrest CIO, Bokeh Capital Partners 40:36
Software sell-off is premature.
Software, especially enterprise software, is important and the recent devaluation is due to a misunderstanding of its value. AI will not replace the need for software that stores and accesses historical data (like Microsoft Excel). The sell-off driven by AI hype is premature.
IGV MED
Aaron Mulvihill Head of Content, Blockworks 68:11
Favor real estate and infrastructure for inflation hedge.
Real estate and infrastructure assets provide constant returns and have inflation-hedging characteristics. They can pass on rent and electricity price increases to consumers, turning inflation into income. These are among the few asset classes in the green this year.
XLRE PAVE MED
Aaron Mulvihill Head of Content, Blockworks 69:53
Shipping benefits from longer oil routes.
Shipping benefits from the conflict as oil and LNG must travel longer distances to reach markets due to disruptions. Ships are traveling further, increasing demand for transportation.
BOAT MED
Scott Siefers Reporter, CoinDesk 87:49
J.P. Morgan is a defensive stock with upside.
J.P. Morgan is a good defensive name in times of uncertainty. It has scale in trading and investment banking, benefits from a higher-for-longer rate backdrop, and has potential for a beat-and-raise earnings story. The bank also has significant capital to deploy.
JPM MED
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This Bloomberg Markets video, published April 13, 2026, features Paul Christopher, Kyle Bass, Kim Forrest, Aaron Mulvihill, Scott Siefers discussing KBE, IEI, SHY, TLT, SPY, IGV, XLRE, PAVE, BOAT, JPM. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Paul Christopher, Kyle Bass, Kim Forrest, Aaron Mulvihill, Scott Siefers  · Tickers: KBE, IEI, SHY, TLT, SPY, IGV, XLRE, PAVE, BOAT, JPM