Episode summary
Stocks Pare Oil-Fueled Rout on Trump’s Assurances | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 38 min · Hosts: Carol Massar, Tim Stenovec · Guests: Connor Teskey, Lynn Martin, John Rogers, Alex Rodriguez
Summary
Stocks and bonds sold off on the Iran war and a spike in oil, then trimmed losses after President Donald Trump said the U.S. would escort and insure tankers through the Strait of Hormuz. The episode frames that move as a relief rally built on an assurance that shipping through the world’s most important energy chokepoint would be protected, even as Brent held near $80 a barrel and the conflict continued to disrupt regional production and threaten inflation through diesel and gasoline costs.
Connor Teskey, the CEO of Brookfield Asset Management, said the firm is sticking to a long-term view and does not see the Iran conflict changing its infrastructure, energy, or AI investment plans. He said Brookfield remains focused on long-duration assets, sees credit markets as healthy overall, and thinks its business is positioned to benefit from AI-driven infrastructure demand. Lynn Martin, president of the New York Stock Exchange, argued that geopolitical shocks should not materially derail IPOs, and said companies stay private longer because of disclosure, litigation, and shareholder-reform burdens rather than a lack of market depth.
John Rogers of Ariel Investments said the market is being distorted by policy-driven volatility, high prices for ordinary consumers, and excessive enthusiasm for large-cap growth and mega-cap tech. He expects lower interest rates, sees opportunities in financials and smaller names, and thinks the U.S. remains the deepest and most attractive market even amid the current uncertainty.
Key takeaways
- The host said Trump’s pledge to escort and insure tankers through the Strait of Hormuz helped trim the stock selloff after oil surged more than 9%.
- Connor Teskey said Brookfield’s infrastructure, energy, and AI bets are unchanged because the firm focuses on long-duration assets, not short-term headlines.
- Lynn Martin said geopolitical conflict alone is unlikely to stop good companies from going public, and she blamed disclosure, litigation, and reform issues for keeping firms private longer.
- John Rogers said he still expects a small recession and described a K-shaped consumer economy where wealthy households are spending but average Americans are struggling.
- Rogers said large-cap growth looks too expensive and that lower rates would help financials and smaller stocks outperform.
- Rogers said the U.S. remains the world’s deepest and most successful market, making it hard to diversify away in a meaningful way.
Notable quotes
“Our view is credit markets are actually in very good shape”
“I don't think so. I mean, there's always going to be geopolitical events happening and the political framework is always going to continue to evolve”
“I still do. Um I've never seen anything quite like it”
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. Want to get right to our first guest. Connor Tesy is chief executive officer of Brookfield Asset Management.
They've got over a trillion dollars in assets under management touching into many different parts of the investment universe and he joins us here at Bloomberg Invest. Nice to have you here with us.
Thanks for having me. — It's been a while and you now officially are CEO of Brookfield Asset Management. What's changed in your life? — Very little. Uh at Brookfield we run a lot of businesses around the world. We like to run those businesses well. We like to run our own business quite well. And full credit to Bruce and the other senior leadership team. This was a very thoughtful, methodical, incremental transition. So
Nice to nice to get the announcement out of the way and just back to business as usual.
All right. So that went as expected. Um but the world is kind of crazy to say the least.
And I think about the volatility we see as a result. um we see it playing out to some extent in the markets today, but we do have an environment macro where things can change pretty dramatically as we saw this this past weekend with US and Israel um the attacks on Iran. So I'm just curious for you, is it too soon to rethink kind of strategies at this point?
Like what will it take to maybe say we've got to start rethinking differently about the macro?
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- oil prices
- stricken shipping lanes
- middle east war impact
- transport fuel costs
- ipo pipeline
Companies and tickers mentioned
- BAM
- Brookfield Asset Management
- New York Stock Exchange
- Ariel Investments
- A-Rod Corp
Watch the episode
Watch “Stocks Pare Oil-Fueled Rout on Trump’s Assurances | Bloomberg Businessweek” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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