This Is How Big Money Is Trading the War in Iran
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 26 March 2026
⏱️ 42 minutes
🧾️ Download transcript
Summary
Markets are often said to be "headline-driven," but that cliché has rarely felt more true than it does right now. A single tweet or Truth Social post can send prices sharply higher or lower, and investors (especially in the rates market) have been forced to rapidly reposition in response. But even as volatility has increased, traditional safe haven destinations like gold haven't been rallying. So how are big accounts actually trading this market? In this episode, we bring back Ozan Tarman, vice chair of global macro at Deutsche Bank and someone who meets regularly with large investors around the world. He tells us what he's seeing right now, including the potential for a squeeze higher in equities and left-tail risks in private credit.
Read more:
Oil Drops Near $102 as Traders Weigh Outlook for US-Iran Truce
Iran War Shows BRICS Limits as India Pushed to Choose Sides
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Transcript
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| 1:02.4 | Bloomberg Audio Studios, Podcasts, Radio News. |
| 1:22.1 | Hello and welcome to another episode of the Odd Lots podcast. |
| 1:23.6 | I'm Joe Wisenthall. |
| 1:24.8 | And I'm Tracy Allaway. |
| 1:28.7 | Tracy, we're recording this March 25th, 2026. |
| 1:29.9 | That's 9.10 a.m. |
| 1:31.7 | Are you going to do the seconds as well? |
| 1:32.1 | No. |
| 1:38.0 | But the reason I do mention the time, the cash trading and the stock market hasn't opened. |
| 1:43.4 | The reason I mentioned the time is not just because things are moving fast, but to establish, |
| 1:45.9 | we've had market moving headlines already this morning. |
| 1:46.7 | Oh, absolutely. And so just in the last like 15, 20 minutes, we got some headlines attributed to the Fars News Agency out of Iran's thing. |
... |
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