Episode summary
Iran Officials Pessimistic About US Deal Before Midterms | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 57 min · Hosts: Carol Massar, Tim Stenovec · Guests: Patrick Murphy, Bob Chapek, Rebecca Walser, Ed Ludlow
Summary
The episode opened with the Iran-Strait of Hormuz standoff and its market impact, with the host framing geopolitics as a direct driver of the U.S. yield curve. A guest said a deal with Iran before the midterms did not look promising, arguing that Tehran’s latest seven-day road map and Washington’s rejection made a breakthrough unlikely. He said energy and shipping costs were already feeding through to businesses and households, and that Washington was failing to respond with enough urgency.
The discussion then broadened into how CEOs and boards are dealing with a world where geopolitical risk is now “baked into the balance sheets.” The guest argued companies are reshoring, pursuing permitting reform, and investing through a whole-of-nation approach that mixes public policy and private capital. He also said the U.S. needs more investment in clean power and infrastructure to improve affordability and certainty.
The second half of the show featured a long interview with Bob Chapek about his Disney tenure and ouster. He said his exit still stings, described Bob Iger’s return as destabilizing, and argued Disney needs a growth engine and a more collaborative culture rather than one dominant leader. Later segments covered AMD’s $8.2 billion deal for World Labs and Nvidia’s AI safety tools, while an analyst said investors are trying to navigate a “convergence of all things” from war and inflation to AI and digital finance.
Key takeaways
- The guest said an Iran deal before the U.S. midterms looked unlikely and expected the Strait of Hormuz fight to drag on for months.
- He argued geopolitics now directly affects corporate earnings through energy prices, tariffs, shipping costs, and supply chains.
- Patrick Murphy said companies are reshoring and pushing permitting reform, but need more certainty and long-term investment.
- Bob Chapek said Disney needs a growth engine and a culture where no single person is bigger than the company.
- An analyst said investors face a “convergence of all things” including Middle East conflict, Russia-Ukraine, China-Taiwan risk, and inflation.
- Ed Ludlow said AMD’s $8.2 billion World Labs deal is a broader play to own more of the AI stack, not just buy talent.
Notable quotes
“it doesn't doesn't look very promising, especially because what Iran just proposed basically a 7-day road map”
“geopolitics was kind of like kata hour, you know, conversation and now it's baked into the balance sheets”
“I say that the biggest miracle wasn't that I lost my job. It was that it took 3 years for it to happen”
“I think the company needs a growth engine. I think the reason the stock is really largely unchanged versus when I left is that it's missing a growth engine”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. This is Bloomberg Business Week Daily. Reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. The Bloomberg Business Week Daily podcast with Carol Masser and Tim Stenbec on Bloomberg Radio. Let's get to geopolitics that is definitely impacting the US yield curve.
Iranian officials have privately expressed pessimism about reaching a deal to end hostilities with Washington and reopen the Strait of Hormuz before US midterm elections in November. That's according to people familiar with the matter. At the same time, Iran and the US appeared far apart on a new ceasefire deal or the reopening of the strait. Tron saying it's sticking to a proposal that President Trump has rejected.
Yeah, there's a lot going back and forth as typical and usual. Uh Patrick Murphy is was the 32nd under secretary of the army. He was also a former acting secretary of the army both under President Obama.
He is a former US Congressman Democrat from the state of Pennsylvania. He is currently executive director geopolitical adviser at Hilco Global. It's a diversified financial services company.
So he basically is talking to senior exacts. He's talking to boards about geopolitical risk, crossber strategy and enterprise transformation. All of which are coming at the seauite and boards of companies right now.
Um Patrick, good to have you here with Tim and me. A deal before the midterms. Is that even on the table in your view?
I think with 33 days to go, Carol, uh it doesn't doesn't look very promising, especially because what Iran just proposed basically a 7-day road map uh which was similar to the the agreement that we had a few months ago, uh that, you know, was obviously dissolved pretty pretty immediately.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- us bond market selloff
- iran us negotiations
- strait of hormuz
- treasury yields
- midterm elections
Companies and tickers mentioned
- DIS
- Walt Disney
- Walser Wealth Management
Watch the episode
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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