Trump says new strikes on Iran will be short-lived

Trump Sees Iran Strikes Short-Lived as Oil, Dollar Fall | Daybreak Europe 9/3/2026. LIZZY: THIS IS "BLOOMBERG DAYBREAK: EUROPE/" CHIP STOCKS MOVE HIGHER IN ASIA AS BROADCOM PREDICTS AI SEMICONDUCTOR SALES WILL QUADRUPLE IN THE NEXT TWO FISCAL YEARS. AND JAPAN'S CURRENCY STRENGTHENS AFTER A SECOND STRAIGHT DAY OF GAINS, LEAVING TRADERS GUESSING. OIL PRICE PRESSURE USES AS PRESIDENT TRUMP SAYS NEW STRIKES ON IRAN WILL BE SHORT-LIVED AND THE U.S. ANNOUNCES INVESTMENT DEALS IN VENEZUELA. HERE'S THE PICTURE IN MARKETS, ASIAN STOCKS GAINING, DRIVEN BY JAPAN AND SOUTH KOREA, DRIVEN BY CHIP STOCKS AFTER BROADCOM RESULTS. FUTURES PRETTY FLAT ON BOTH SIDES OF THE ATLANTIC. STILL POINTING TO THE UPSIDE. FLIP THE BOARD CROSS ASSET AND YOU CAN SEE WHY. OIL DOWN 7/10 OF A PERCENT BUT STILL AROUND $95 PER BARREL. A THREE-DAY RALLY IN PRESIDENT TRUMP SEEING RENEWED ATTACKS ON IRAN WILL BE SHORT-LIVED. THE 10-YEAR TREASURY YIELD CONSOLIDATING AROUND THE 4.78 LEVEL AS INVESTORS WAIT FOR MORE U.S. JOBS DATA TODAY AND TOMORROW. WE ARE KEEPING AN EYE ON THE YEN, 157.70 RIGHT NOW. WE ARE KEEPING AN EYE ON IT BECAUSE TRADERS ARE LOOKING FOR MORE YEN TURBINE -- INTERVENTION. WE WILL DIVE INTO THAT IN A MOMENT. LET'S LOOK AT THE RISK EVENTS TODAY. WE WILL HAVE EURO AREA PRODUCER PRICE DATA, FOLLOWED BY U.S. INITIAL JOBLESS CLAIMS NUMBERS AHEAD OF PAYROLLS TOMORROW. 3:00 P.M., U.S. SERVICES DATA, EXPECTING TO STAY AT THE JULY LEVELS. PLENTY ON THE AGENDA, LET'S GET STARTED. WE BEGIN WITH ASIAN STOCKS MOVING HIGHER THIS MORNING AS THE OIL PRICE RALLY LOSES STEAM. LET'S GO TO WINNIE HSU. WHAT ARE YOU WATCHING? WINNIE: AS YOU MENTION, OVERALL RISK SENTIMENT PRETTY SOLID FOR ASIAN STOCKS, ESPECIALLY WITH OIL PRICES FALLING BACK DOWN AND A WEAKER U.S. DOLLAR. ALL EYES ARE ON MOVES IN THE JAPANESE YEN AND WE ARE SEEING IT STRENGTHENED BY 7/10 OF A PERCENT TO TRADE AROUND 157.57 AGAINST THE DOLLAR. YESTERDAY, IT STRENGTHENED BY AS MUCH AS 1.2%. AT THIS POINT WE DON'T KNOW IF IT WAS DRIVEN BY INTERVENTION OR A RATE HIKE OR RATE CHECK. WHAT WE KNOW IS INVESTORS ARE BRACING FOR POTENTIALLY A BIGGER RATE HIKE AND POTENTIALLY INTERVENTION RISKS, ESPECIALLY AHEAD OF THE BANK OF JAPAN DECISION MEETING LATER THIS MONTH, FOLLOWED BY A THREE-DAY HOLIDAY. A LOT OF CAUTION AROUND THAT FRONT. WE ARE SEEING YIELDS, 10 YEAR AND THIRTY-YEAR IN THE REGION FALLING, TRACKING MOVES IN U.S. TREASURIES. THE 30 YEAR YIELD, HIGHER THAN THE 4% LEVEL. WE ALSO SAW PRETTY SOLID DEMAND FOR THE 30 YEAR BOND OPTION EARLIER. EASING SOME CONCERNS AFTER SUCH A SHOP SELLOFF -- SHARP SELLOFF IN BONDS. LOOKING AT THE BROADER ASIAN MARKET, SUPPORTED BY GAINS IN TECH SHARES, ESPECIALLY WHEN WE HAD A BULLISH SALES OUTLOOK FROM BROADCOM. WE ARE SEEING THE KOSPI JUMPING BY MORE THAN 1%, FOLLOWED BY GAINS IN OTHER TECH HEAVY GAUGES. LOOKING AT ANOTHER SECTOR TODAY THAT'S REALLY STANDING OUT. WE HAVE FINANCIAL SECTORS RALLYING AND THE MSCI FINANCIAL SECTOR HIT A RECORD HIGH TODAY WITH THE TOP INDEX ALSO LEADING GAINS IN JAPAN. WE HAVE KOREAN BANKS AND JAPANESE BANKS RALLYING BECAUSE OF THE EXPECTATION FO