What's the connection between low global interest rates, Korean retail investors, and the U.S. options market? On this week's Odd Lots podcast, we discuss the fascinating world of Korean structured notes with Benn Eifert of QVR Advisors. He explains how a very exotic type of investment sold to Korean retail investors could, through a series of hedging requirements, end up causing massive volatility in the market for S&P 500 options.

What's the connection between low global interest rates, Korean retail investors, and the U.S. options market? On this week's Odd Lots podcast, we discuss the fascinating world of Korean structured notes with Benn Eifert of QVR Advisors. He explains how a very exotic type of investment sold to Korean retail investors could, through a series of hedging requirements, end up causing massive volatility in the market for S&amp;P 500 options.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

On Bloomberg&rsquo;s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

How An Exotic Investment Product Sold In Korea Could Create Havoc In The U.S. Options Market

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ac026e7c-6085-492c-989b-ae27005135da/transcript

Here's Why is Bloomberg’s short explainer podcast, where we take one big news story and break it down in just a few minutes with help from our experts across the newsroom.

We're dropping into your feed with a special episode featuring Joe Weisenthal, who joined us to discuss why the Iran war is prompting a safe haven rethink.

In times of geopolitical turmoil, investors look for somewhere safe to put their money. US President Donald Trump's trade war helped to fuel a record rally for gold in 2025, but the Iran war is pushing investors to shelter in different places.

Like what you hear? Subscribe to the Here’s Why podcast for more quick, expert-driven explainers available via the links below every Friday. 
Apple Podcasts
Spotify
TuneIn
Wherever you get your podcasts

Here's Why is Bloomberg&rsquo;s short explainer podcast, where we take one big news story and break it down in just a few minutes&nbsp;with help from our experts across the newsroom.
We're dropping into your feed with a special episode featuring Joe Weisenthal, who joined us to discuss why the Iran war is prompting a safe haven rethink.
In times of geopolitical turmoil, investors look for somewhere safe to put their money. US President Donald Trump's trade war helped to fuel a record rally for gold in 2025, but the Iran war is pushing investors to shelter in different places.
Like what you hear? Subscribe to the Here&rsquo;s Why podcast for more quick, expert-driven explainers available via the links below every Friday.&nbsp;
<ul>
<li><a href="https://podcasts.apple.com/us/podcast/bloomberg-intelligence/id1479610314">Apple Podcasts</a></li>
<li><a href="https://open.spotify.com/show/6dajvfHUjw7HaFot0BoNNu">Spotify</a></li>
<li><a href="https://tunein.com/podcasts/Business--Economics-Podcasts/Bloomberg-Intelligence-p1534210/">TuneIn</a></li>
<li><a href="https://pod.link/1479610314?view=apps&amp;sort=popularity">Wherever you get your podcasts</a><a href="https://iheart.com/podcast/100443721"></a></li>
</ul>

Here's Why The Iran War Is Prompting A Safe Haven Rethink

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/75bd7644-5dae-4e6c-a3f1-b41301068fc7/transcript

The war in Iran has already lasted longer than many people might have expected. There was an initial assumption, after oil prices started surging, that President Trump could just declare victory at any moment. But that hasn't happened, and the longer this goes on, the more damage is being done to the region's energy infrastructure. Already a key gas plant in Qatar has been damaged so badly that it's expected to take it years to repair. On this episode, we speak with return guest Gregory Brew, a senior analyst at Eurasia Group who specializes in energy and Iran. Beyond his current work, Greg is the author of two books on the history of oil in Iran. We discuss the logic of the war from both the Iranian and American perspectives, and why the Trump administration may have walked into a "strategic trap" with no easy way to declare victory and get out.

Read more:
Iran Leaves an Isolated Trump Grappling With Historic Oil Crisis
How Iran Has Effectively Closed the Strait of Hormuz

Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots

Subscribe to the Odd Lots Newsletter
Join the conversation:discord.gg/oddlots

The war in Iran has already lasted longer than many people might have expected. There was an initial assumption, after oil prices started surging, that President Trump could just declare victory at any moment. But that hasn't happened, and the longer this goes on, the more damage is being done to the region's energy infrastructure. Already a key gas plant in Qatar has been damaged so badly that it's expected to take it years to repair. On this episode, we speak with return guest Gregory Brew, a senior analyst at Eurasia Group who specializes in energy and Iran. Beyond his current work, Greg is the author of two books on the history of oil in Iran. We discuss the logic of the war from both the Iranian and American perspectives, and why the Trump administration may have walked into a "strategic trap" with no easy way to declare victory and get out.
Read more: <a href="https://www.bloomberg.com/news/features/2026-03-19/iran-war-trump-underestimates-oil-price-fallout-from-us-israeli-strikes?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">Iran Leaves an Isolated Trump Grappling With Historic Oil Crisis</a> <a href="https://www.bloomberg.com/news/articles/2026-03-19/strait-of-hormuz-as-iran-blocks-key-oil-shipping-route-can-naval-escorts-help?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">How Iran Has Effectively Closed the Strait of Hormuz</a>
Only <a href="http://bloomberg.com/" data-testid="inline-card-resolved-view">Bloomberg - Business News, Stock Markets, Finance, Breaking &amp; World News</a> subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at&nbsp; <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">bloomberg.com/subscriptions/oddlots</a>
<a href="http://bloomberg.com/subscriptions/oddlots" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">Subscribe to the Odd Lots Newsletter</a> Join the conversation: <a href="https://discord.gg/oddlots" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">discord.gg/oddlots</a>

Greg Brew on Surging Energy and the 'Strategic Trap' of the War in Iran

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ad26f6f7-20fc-4412-b654-b41300517a43/transcript

America’s farmers can’t seem to catch a break. Years of thin margins and rising costs have already stretched them to the limit. And now, war with Iran is making things even harder. The conflict is driving up global energy and fertilizer prices, pushing producers into tough decisions about what to plant and at what price to sell. At the same time, farmers are still dealing with the impact of tariffs, rising land costs, and stiff competition from agricultural powerhouses like Brazil. On this episode, we’re joined again by Jeff Kazin and Mike Rohlfsen, founders of Agris Academy, which advises farmers on managing risk. They walk us through how global turmoil reaches all the way into the US heartland and into the American food supply.

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Join the conversation: discord.gg/oddlots

America&rsquo;s farmers can&rsquo;t seem to catch a break. Years of thin margins and rising costs have already stretched them to the limit. And now, war with Iran is making things even harder. The conflict is driving up global energy and fertilizer prices, pushing producers into tough decisions about what to plant and at what price to sell. At the same time, farmers are still dealing with the impact of tariffs, rising land costs, and stiff competition from agricultural powerhouses like Brazil. On this episode, we&rsquo;re joined again by Jeff Kazin and Mike Rohlfsen, founders of Agris Academy, which advises farmers on managing risk. They walk us through how global turmoil reaches all the way into the US heartland and into the American food supply.
<a href="http://bloomberg.com/subscriptions/oddlots" data-link-cookie="1" data-destination="http://bloomberg.com/subscriptions/oddlots">Subscribe to the Odd Lots Newsletter</a> Join the conversation: <a href="https://discord.gg/oddlots" data-destination="https://discord.gg/oddlots">discord.gg/oddlots</a>

How War in Iran Will Squeeze America's Farmers Even Further

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f578715f-8efb-47a4-93f6-b411015899d8/transcript

How An Exotic Investment Product Sold In Korea Could Create Havoc In The U.S. Options Market

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