Dems, GOP Evaluate 2026 Midterm Roadmap | Balance of Power 08/12/2026

Watch on YouTube ↗  |  August 13, 2026 at 00:03  |  47:51  |  Bloomberg Markets
Speakers
Michael McKee — International Economics & Policy Correspondent, Bloomberg
Tim Pawlenty — Former Governor of Minnesota
Robert Malley — Former U.S. Special Envoy for Iran; International Crisis Group
Jeff Mason — White House Correspondent
Wendy Sherman — Former Deputy Secretary of State, Biden Administration; Senior Fellow, Harvard
Mark Pocan — U.S. Representative (D-WI)
Kailey Leinz — Bloomberg Reporter
Bryan Steil — U.S. Representative (R-Wisconsin)

Summary

The episode covers post-primary midterm politics in Minnesota and Wisconsin, the latest subdued inflation data and its implications for Fed policy, and the ongoing U.S.-Iran conflict around the Strait of Hormuz. It also discusses AI data center energy demand, permitting bottlenecks, and a legal fight over Trump Media's planned Truth API paid access.

  • Karoline Leavitt is leaving her White House press secretary post, with no immediate replacement announced.
  • July CPI showed core inflation at its slowest annual pace since March 2021, though Fed expectations were largely unchanged.
  • Michael McKee expects 10-year Treasury yields to remain elevated and not come down soon.
  • Tim Pawlenty argues for streamlined energy permitting and more constructive AI data center buildout rather than bans.
  • Midterm primary results in Wisconsin and Minnesota reset the general election landscape.
  • Robert Malley warns the Strait of Hormuz situation may persist and push commodity, fertilizer, and gasoline prices higher.
  • Trump Media's Truth API product is facing a lawsuit over its paid high-speed distribution plan.
Ideas
Michael McKee International Economics & Policy Correspondent, Bloomberg 7:21
Ten-year yields unlikely to fall soon
The 10-year Treasury auction priced at the highest yield since 2007, and McKee says yields are unlikely to come down any time soon because inflation is part of the pricing, budget concerns are real, and possible new tax cuts would add to the deficit and make Wall Street more nervous.
10-Year U.S. Treasury Note HIGH
Tim Pawlenty Former Governor of Minnesota 9:41
Streamline permitting to expand energy supply
Energy costs are constrained by transmission bottlenecks and state/local permitting; state leaders can play a significant role by streamlining permitting to get more energy to market faster, which would increase supply and make energy more affordable.
U.S. Energy Infrastructure MED
Tim Pawlenty Former Governor of Minnesota 14:11
AI data centers need more power
AI data center buildout is a market-driven necessity, and Pawlenty argues against outright bans; instead, he says leaders should create win-win agreements that let data centers bring their own power, protect water through closed-loop systems, and invest in communities, which would allow more power to come online and support continued AI infrastructure demand.
AI Data Center Infrastructure MED
Robert Malley Former U.S. Special Envoy for Iran; International Crisis Group 25:37
Strait closure lifts fertilizer, gasoline prices
A prolonged Strait of Hormuz closure is likely and will raise prices for commodities that transit the strait, especially fertilizers and other critical goods the rest of the world needs; gasoline prices are also cited as a cost of the conflict.
CF UGA HIGH
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This Bloomberg Markets video, published August 13, 2026, features Michael McKee, Tim Pawlenty, Robert Malley discussing 10-Year U.S. Treasury Note, U.S. Energy Infrastructure, AI Data Center Infrastructure, CF, UGA. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Michael McKee, Tim Pawlenty, Robert Malley  · Tickers: 10-Year U.S. Treasury Note, U.S. Energy Infrastructure, AI Data Center Infrastructure, CF, UGA