Amos Hochstein, managing partner at TWG Global and former energy advisor to President Joe Biden, proposes an alternative to a US diesel export ban and says the war in Iran will remain a "core problem" for fuel prices.
Daan Struyven, co-head of global commodities research at Goldman Sachs, explains the four main questions the Trump administration faces if it institutes a diesel export ban. He also discusses how a ban could negatively impact domestic gasoline prices and where he sees demand destruction in the global oil market.
OECD Chief Economist Stefano Scarpetta discusses the outlook for inflation, the impact of artificial intelligence on the global economy and debt markets, and rising bond yields. Speaking on Bloomberg Television, Scarpetta says "central banks have to remain very vigilant" about the risk of higher prices. "They need to intervene like they have done so far, perhaps more than what they did in 2022," he adds.
Laura Cooper, global investment strategist at Nuveen, says factors weighing on markets could result in "limited tactical upside from here," but that investors are looking to add risk to their portfolios. "I think markets are just waiting for those kind of clearing events around event risks, whether that's around geopolitical risk, whether that's around the midterms," Cooper tells Bloomberg Television. "I think there's just these kind of key barriers to that re-risking."
Britain's private sector slowed and price pressures strengthened in September, according to S&P Global's purchasing managers' index, a closely watched survey that pointed to a summer growth spurt losing momentum. Dan Hanson of Bloomberg Economics reacts to the data.
Airtel Money Commerce NV has filed for an initial public offering in London because it has "deep capital available," according to Chief Executive Officer Ian Ferrao. "There's a very, very good understanding of emerging markets," he tells Bloomberg Television. "Our parent company, Airtel Africa, has been listed on the London Stock Exchange since 2019. It's had a very successful run here, and we're hoping to to replicate that success," Ferrao adds. The IPO could be the largest listing the city has seen in five years.
The upper house of Switzerland's parliament backed a fresh compromise in the debate on UBS Group AG's capital requirements. The plan foresees that the bank must back 90% of the value of its foreign units with the highest-quality capital, known as CET1. That's less than the 100% backing the government has pushed for but a departure from a compromise involving heavy use of convertible debt which UBS favored. UBS has said it's against the 90% solution. Bloomberg's Jan-Henrik Foerster reports from Zurich.
Andy Chorlton, CIO for fixed income at M&G, says the recent rise in bond yields has made the asset class more attractive after years of poor returns. "Real yields are positive. 2% positive in 10-year real yields in the in the US and the UK. That's not a bad starting point for what is still, in my belief, a low-risk asset class versus all the other things you can buy," Chorlton tells Bloomberg Television.
Anna Edwards, Guy Johnson and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."
US President Donald Trump said officials held "very good" talks with Iranian envoys in New York. Steve Witkoff and Jared Kushner participated on behalf of the US. Trump said the three-hour session was "very productive" and another was being planned for the near future. The comments revive hopes for a new diplomatic off-ramp hours after the US president again threatened to annihilate the Islamic Republic. Bloomberg's Stuart Livingstone-Wallace breaks down the situation.
Oil headed for the longest losing streak in more than a year, as Saudi Arabia moved to restart a key pipeline and the US flagged progress in talks with Iran to end a war that's rocked the Middle East since March. Mekala Krishnan, Partner at McKinsey Global Institute spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa about the disruption in the Strait of Hormuz and its impact on oil.
Cezar Consing, President and CEO of Ayala Corp., says the company will cut debt and acquire additional shares in undervalued units using proceeds from its $700 million share sale to Mitsubishi. He speaks on "Bloomberg: The China Show."
