Bloomberg Surveillance Bloomberg Surveillance TV: March 12th, 2026
Mar 12, 2026
Libby Cantrill, PIMCO public policy lead, on SPR moves and political fallout. Dr. Jorge León, Rystad Energy geopolitical head, on supply shocks, Strait of Hormuz effects and offshore storage. Keith Lerner, Truist market strategist, on earnings resilience, buy-the-dip behavior and how oil risks could reshape market forecasts.
AI Snips
Chapters
Transcript
Episode notes
Earnings Are The Bull Market North Star
- U.S. equity resilience is anchored by rising corporate earnings despite repeated macro shocks.
- Keith Lerner points to earnings momentum and past corrections as reasons investors still give the bull market the benefit of the doubt.
Be Cautious On Adding To Equity Positions
- Maintain a modest overweight to equities but avoid adding aggressively without a clearer correction.
- Truist recommends a
Strait Disruption Already Priced Into Oil
- The Iran-related disruptions could close ~10 million bpd transiting the Strait of Hormuz, creating sustained upside pressure.
- Jorge León notes SPR releases barely moved prices because markets already priced a severe disruption and restart takes weeks to months.