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the COB: Trump talk

·24 min·2 clips
Trump's address sparked a sharp global market selloff, with no clear timeline for ending the war or reopening the Strait of Hormuz.
The episode opens with host Nadine Blaney introducing the day's key story: a sharp market selloff triggered by US President Donald Trump's address on the Iran war. She notes the lack of a clear timeline for de-escalation or reopening the Strait of Hormuz, fueling inflationary fears. The S&P/ASX 200 turned from positive to negative, down 0.8%, mirroring declines across Asian markets. Trump's speech included threats to hit Iran 'extremely hard' over the next few weeks and claims of destroying Iran's navy. The host links this to predictions of Brent crude reaching $200 a barrel and political exposure for Trump ahead of midterms. A sector review shows energy stocks like Perun up 7%, while gold stocks retreated. Guest Clifford Bennett joins to analyze Trump's address, arguing markets are becoming smarter by not believing the president's timeline. He suggests the war could last six to nine months, with energy supply disruptions persisting for six to 18 months even after conflict ends. Bennett highlights the human toll and strategic challenges, like the closed Strait of Hormuz and damaged US military bases. He advises investors to focus on energy and gold as defensive plays, noting gold is a buy on dips. The conversation shifts to trading in a headline-driven market, with Bennett stating it's harder now but oil and gold remain key markets. He observes markets are starting to see through Trump's hyperbole, relying more on Iranian actions. The host then discusses other market movers, including a Morgan Stanley note favoring Coles over Woolworths in an inflationary environment. She mentions interviews about Greatland Gold and infrastructure access via private markets. The episode concludes with a recap of the ASX 200 closing down over 1% to 8,580, though up for the week, and a preview of upcoming data like US non-farm payrolls and an OPEC+ meeting.

As heard by us

A sharp market read on Hormuz, energy disruption, and the portfolio questions left by Trump's Iran address.

The COV: Trump talk follows a market shock through pressure points investors can track: the unresolved Strait of Hormuz, inflation anxiety, rising Treasury yields, and softer equity futures.

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Why you'd press play

You want Trump's Iran address translated into the market moves it triggered: oil risk, rising yields, and equities under pressure before the long weekend.

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