Bloomberg Daybreak: Asia Edition Trump Offers Ship Assurances, South Korea Stock Selloff
Mar 4, 2026
Kerry Craig, J.P. Morgan strategist who advises on regional markets and geopolitical impacts. Rob Hayworth, U.S. Bank investment strategist focused on macro and allocation. They discuss U.S. plans to insure and escort tankers through the Strait of Hormuz, oil-driven inflation and bond reactions. They cover South Korea’s sharp stock selloff, rotation into defensives and tactical moves into infrastructure and energy.
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Equities Calmer Than Energy Amid Iran Conflict
- Equity markets have been calmer than oil and gas markets during the Iran conflict, showing more volatility in energy than stocks.
- Rob Hayworth highlights investors are focused on duration and how long the conflict will last, with shorter disruptions seen as manageable for equities.
Yields Reflect Inflation Risks From Energy Shock
- Bond yields are pricing in higher inflation expectations as markets weigh possible Fed delay on cuts amid energy-driven inflation risks.
- Hayworth notes a 10-year Treasury yield around 4.1% could move higher if CPI/PPI pressures persist.
Rotate Into Global Equities And Infrastructure
- Rotate within equities toward global equities and infrastructure while trimming tech concentration after its valuation reset.
- Hayworth recommends diversification into smaller companies and global infrastructure rather than re-overweighting tech.