Bloomberg Surveillance TV: March 12th, 2026

The podcast analyzes the stability of the equity market amid geopolitical tensions, particularly the conflict in Iran, and its potential impact on the U.S. economy and political landscape. Keith Lerner from Truist suggests that strong earnings are anchoring the bullish market, while potential triggers for concern include rising oil prices above $90 a barrel and deteriorating economic forecasts. Jorge Leon from Rystad Energy discusses the potential for significant oil price increases, possibly peaking at $115 if the conflict lasts two months or $135 if it extends to four months, emphasizing the critical role of supply chains and potential demand destruction. Libby Cantrill at PIMCO assesses the limited policy responses available to the President and the potential political ramifications, especially concerning gas prices and the upcoming midterm elections, noting the historical correlation between presidential approval ratings and gas prices.