US President Donald Trump’s move to blockade the Strait of Hormuz risks deepening an unfolding economic crisis for Asia’s energy-dependent economies, including America’s allies in the region and China. “For the global economy and markets, the latest developments shift the focus back toward downside risks — pointing to higher oil prices and a larger blow to growth and boost to inflation,” Bloomberg...
US President Donald Trump’s move to blockade the Strait of Hormuz risks deepening an unfolding economic crisis for Asia’s energy-dependent economies, including America’s allies in the region and China. “For the global economy and markets, the latest developments shift the focus back toward downside risks — pointing to higher oil prices and a larger blow to growth and boost to inflation,” Bloomberg Economics’ analysts including Jennifer Welch wrote in a note . Global benchmark Brent crude oil rallied as much as 8.6% on Monday to more than $103 a barrel, while European gas futures spiked almost 18% at one point. US forces will begin implementing the blockade, which applies only to vessels entering or departing Iranian ports, from 10 a.m. New York time Monday, the US Central Command said. The president’s announcement of the blockade plans came hours after the US and Iran failed to reach a deal in direct talks in Pakistan. Asian nations including US allies such as Japan and South Korea use more than 80% of the energy that usually transits the strait. Governments across the region have been scrambling to arrange alternative oil and gas supplies, trying to cut back energy use with steps like running air conditioners at warmer settings, and rolling out measures to soften the blow to consumers and businesses. Read more: Trump Vows to Blockade Hormuz After US-Iran Peace Talks Fail Iran-linked tankers as well as others from nations including China had been transiting the key waterway — movements that the blockade would target. Coming ahead of Trump’s planned trip to China in mid-May, Beijing may look to impose pressure on Washington to lift the blockade, with BE’s analysts saying it could leverage its dominance of critical minerals if needed. In a separate report, Bloomberg Economics explored three scenarios for the war and global economy. In the base case, the conflict continues at a lower intensity, with oil averaging $105 a barrel in the second quarter before falling to $8...
格隆汇4月13日｜美国加州州长候选人、美国众议员埃里克・斯沃尔韦尔在 X 平台发文表示：“我将全力回击针对我的这些严重不实指控，但这是我个人的抗争，而非竞选活动的一部分。”当地时间10日，加州本地媒体报道称，一名前女下属指控，现在支持率排名第一的加州州长候选人斯沃尔韦尔曾经趁她醉酒后强奸了她，斯沃尔韦尔是加州的现任国会众议员。
格隆汇4月13日｜美国加州州长候选人、美国众议员埃里克・斯沃尔韦尔在 X 平台发文表示：“我将全力回击针对我的这些严重不实指控，但这是我个人的抗争，而非竞选活动的一部分。”当地时间10日，加州本地媒体报道称，一名前女下属指控，现在支持率排名第一的加州州长候选人斯沃尔韦尔曾经趁她醉酒后强奸了她，斯沃尔韦尔是加州的现任国会众议员。
The Bank of Japan’s usual approach to conducting policy at times of high uncertainty would be to wait and see, making the likely outcome of a meeting this month too close to call, according to a former executive director who oversaw monetary policy at the central bank. Developments in the Middle East are “putting the BOJ in a very difficult situation right now,” Kazuo Momma , the former BOJ offici...
The Bank of Japan’s usual approach to conducting policy at times of high uncertainty would be to wait and see, making the likely outcome of a meeting this month too close to call, according to a former executive director who oversaw monetary policy at the central bank. Developments in the Middle East are “putting the BOJ in a very difficult situation right now,” Kazuo Momma , the former BOJ official, said on Bloomberg TV Monday. “There is a wide range of possible outcomes in the next two to three months,” Momma said. “In this kind of environment of uncertainty I think the normal recipe for any central bank is to just wait and see” how the situation is going to play out. Momma was speaking after the US and Iran failed to reach an agreement over the weekend on ending the war, sending oil prices higher and Japan’s benchmark bond yields to the highest since 1997. President Donald Trump escalated the standoff on Sunday with a post on Truth Social warning that the US will begin a full naval blockade of the strategic Strait of Hormuz. Read more: Trump Vows to Blockade Hormuz After US-Iran Peace Talks Fail Momma said that a lack of a clear messaging from the BOJ regarding the near-term trajectory for rates suggests that the bank itself probably hasn’t decided what to do at the April 27-28 gathering. The April meeting “will be a close call meeting,” Momma said. Pricing in the overnight swaps market shows that traders currently see a 44% chance of hike. Late last week the percentage was around 60%. BOJ Is Likely to Raise Interest Rate in April, Ex-Official Says Japan’s Real Wages Rise Most Since 2021 to Keep BOJ on Hike Path Global Rate Path Veers Higher in Wake of Another Trump Shock
Sara Vakhshouri, Founder and President at SVB Energy International, discusses her outlook for energy markets as the US moved to blockade the Strait of Hormuz after weekend talks between Washington and Tehran failed to reach a deal, escalating a global energy crisis that’s rocked markets. She speaks with Haidi Stroud-Watts and Shery Ahn on Bloomberg: The Asia Trade. (Source: Bloomberg)
Sara Vakhshouri, Founder and President at SVB Energy International, discusses her outlook for energy markets as the US moved to blockade the Strait of Hormuz after weekend talks between Washington and Tehran failed to reach a deal, escalating a global energy crisis that’s rocked markets. She speaks with Haidi Stroud-Watts and Shery Ahn on Bloomberg: The Asia Trade. (Source: Bloomberg)