The Bid

Inflation and investing are once again front and center as markets assess a new mix of price pressures. In this Ask Me Anything episode of The Bid, host Oscar Pulido is joined by Helen Jewell, BlackRock’s International Chief Investment Officer for Fundamental Equities, and Tom Becker, senior portfolio manager on BlackRock’s Global Tactical Asset Allocation team.
Together, they explore what is driving inflation today, from AI infrastructure demand and energy bottlenecks to fiscal spending, supply constraints, and regional differences. The conversation examines how inflation is affecting capital markets, equities, fixed income, stock market trends, and portfolio diversification.
This episode also looks at the role of AI as both a near-term inflationary force and a potential longer-term productivity driver. As AI investing accelerates demand for electricity, chips, copper, data centers, and infrastructure, investors are watching how these megaforces reshape markets and the global economy.
Key insights:
· How AI infrastructure demand is contributing to inflation pressures
· Why inflation differs across regions, including the U.S., Europe, Japan, and China
· Where pricing power matters most for companies and sectors
· How inflation measures like CPI, PCE, and PPI inform market views
· Why sticky inflation can challenge traditional stock-bond diversification
· How investors can think about inflation across equities, bonds, and multi-asset portfolios

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Key moments in this episode:
00:00 Introduction: Why Inflation Matters
02:57 Supply Demand Basics
04:57 From Pandemic To Now
07:26 Inflation By Region
09:19 Equity Winners Losers
13:24 Which Inflation Metrics
15:23 AI And Macro Inflation
17:24 AI Bottlenecks Plays
18:58 Fixed Income And 60 40
21:03 Key Takeaways

Sources: “Harry Styles Ticket Prices Spark Outrage Among Fans”, Forbes, 2026; BlackRock Fundamental Equities, June 2026, based on analysis of company statements; Blackrock Fundamental Equities, June 2026, based on data from the UK Office of National Statistics
Inflation and investing, sticky inflation, AI infrastructure, fixed income, equities, portfolio diversification, capital markets, stock market trends
This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Financial market infrastructure is often invisible to investors, yet it powers every trade, settlement, and ownership record across capital markets. As technology evolves, tokenization is emerging as a new way to represent and transfer financial assets, raising questions about how markets may operate in the future.
In this episode of The Bid, Oscar Pulido speaks with Rob Goldstein, Chief Operating Officer at BlackRock. They discuss what tokenization means in practice, how it differs from cryptocurrencies, and why digital assets are drawing increased attention from investors, institutions, and policymakers.
The conversation explores how tokenization could improve access, efficiency, and connectivity across financial markets. Rob also shares his perspective on the coexistence of traditional financial systems and digital assets, the role of digital wallets, and the regulatory developments that could shape adoption in the years ahead.
Key insights:
· How tokenization creates digital representations of financial assets
· Why tokenization differs from cryptocurrencies and Bitcoin
· How digital wallets could expand access to capital markets
· Why traditional finance and digital assets may coexist
· What role blockchain technology plays in financial infrastructure
· How regulation could influence the future of tokenized markets

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Key moments in this episode:
00:00 Tokenization Success Metrics
00:33 Markets Plumbing Shift
01:56 Welcome and Guest Intro
03:25 Defining Tokens and Wallets
06:07 Global Access and Wallet Growth
08:49 Traditional Finance Complexity
11:45 Bridging TradFi and Digital
13:45 Crypto vs Tokenization
16:57 Phone as Portfolio Hub
18:11 Op-Ed and Tech Evolution
22:09 Digital Assets in Portfolios
23:33 What Must Happen Next
25:08 Keep It Simple for Users
26:46 Closing Thoughts and Wrap
27:54 Outro and Disclosures

Tokenization, Digital assets, Financial market infrastructure, Capital markets, Blockchain technology, Digital wallets, Investing innovation, Financial technology
This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia infrastructure investing is becoming central to the global energy transition as rising demand, energy security concerns, and the need for more resilient systems accelerate capital deployment across the region. In Southeast Asia, the opportunity is not only about replacing old systems, but building new infrastructure at scale for a growing economy.
In this episode of The Bid, host Oscar Pulido speaks live from Ecosperity in Singapore with Salim Samaha, Global Head of Energy at Global Infrastructure Partners, a part of BlackRock, and Heidi Yip, Head of Sustainable and Transition Solutions for Asia Pacific at BlackRock. Together, they discuss how the infrastructure opportunity is evolving globally, why Asia’s transition differs from Western markets, and where investors are seeing momentum across renewables, grids, storage, and system flexibility.
Key insights include:
· How Asia’s infrastructure build-out differs from Western markets
· Why energy security is becoming inseparable from the energy transition
· Where capital is flowing across renewables, grids, storage, and interconnection
· How public-private partnerships can help mobilize transition finance
· Why execution bottlenecks, permitting, and offtake frameworks remain critical
· Where AI, innovation, and rising demand may reshape future infrastructure needs

Key moments:
00:00 Asia Infrastructure Boom
01:06 Live From EcoSperity
03:16 Energy Transition Now
04:20 Southeast Asia Grid Challenge
06:43 West vs Asia Reality Check
08:58 How APAC Investors Deploy Capital
11:26 Scaling Projects and Labor Crunch
13:17 Where Capital Flows and Bottlenecks
15:13 Five Year Outlook and Innovation
17:23 Wrap Up and Disclosures

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Asia infrastructure investing, energy transition, infrastructure, capital markets, megaforces, renewables, energy security, sustainable investing
Sources: IEA World Energy Investments 2025, Southeast Asia; IEA World Energy Investments 2024; IEA Global Energy Review 2026, Electricity generation mix for selected regions, 2025; IEA Integrating Solar and Wind in Southeast Asia; IEA Southeast Asia Energy Outlook 2024; IEA Global Energy Review 2026, Electricity generation mix for selected regions, 2025; Singapore Monetary Authority Press Release 2024; IEA data and charts energy investments; Urban Population in Southeast Asia, 2023-2050, IEA
This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia infrastructure investing is becoming central to the global energy transition as rising demand, energy security concerns, and the need for more resilient systems accelerate capital deployment across the region. In Southeast Asia, the opportunity is not only about replacing old systems, but building new infrastructure at scale for a growing economy.
In this episode of The Bid, host Oscar Pulido speaks live from Ecosperity in Singapore with Salim Samaha, Global Head of Energy at Global Infrastructure Partners, a part of BlackRock, and Heidi Yip, Head of Sustainable and Transition Solutions for Asia Pacific at BlackRock. Together, they discuss how the infrastructure opportunity is evolving globally, why Asia’s transition differs from Western markets, and where investors are seeing momentum across renewables, grids, storage, and system flexibility.
Key insights include:
· How Asia’s infrastructure build-out differs from Western markets
· Why energy security is becoming inseparable from the energy transition
· Where capital is flowing across renewables, grids, storage, and interconnection
· How public-private partnerships can help mobilize transition finance
· Why execution bottlenecks, permitting, and offtake frameworks remain critical
· Where AI, innovation, and rising demand may reshape future infrastructure needs

Key moments:
00:00 Asia Infrastructure Boom
01:06 Live From EcoSperity
03:16 Energy Transition Now
04:20 Southeast Asia Grid Challenge
06:43 West vs Asia Reality Check
08:58 How APAC Investors Deploy Capital
11:26 Scaling Projects and Labor Crunch
13:17 Where Capital Flows and Bottlenecks
15:13 Five Year Outlook and Innovation
17:23 Wrap Up and Disclosures

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🔗 Learn More About BlackRock: https://1blk.co/41uwhDS
Asia infrastructure investing, energy transition, infrastructure, capital markets, megaforces, renewables, energy security, sustainable investing
Sources: IEA World Energy Investments 2025, Southeast Asia; IEA World Energy Investments 2024; IEA Global Energy Review 2026, Electricity generation mix for selected regions, 2025; IEA Integrating Solar and Wind in Southeast Asia; IEA Southeast Asia Energy Outlook 2024; IEA Global Energy Review 2026, Electricity generation mix for selected regions, 2025; Singapore Monetary Authority Press Release 2024; IEA data and charts energy investments; Urban Population in Southeast Asia, 2023-2050, IEA
This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ETFs in Asia have grown significantly since the global financial crisis, but their role is changing. What began as a way to access markets is now expanding into broader portfolio applications as investors face more complex market conditions.
In this episode of The Bid, Oscar Pulido speaks with Christian Obrist, Head of iShares Distribution in Asia, and Nick Peach, Head of iShares Asia Pacific at BlackRock. They discuss how ETF usage in the region has developed and how investors are applying them across different strategies.
The conversation explores how education has shifted from fundamentals to advanced use cases, including liquidity management, tactical allocation, and operational efficiency. It also highlights the role of digital investors, the importance of local market development, and how ETFs are becoming more integrated into portfolio construction.

Key moments in this episode
00:00 Introduction
02:15 How ETF usage in Asia has moved beyond market access
03:55 Why ETF investor education is shifting toward advanced applications
05:15 Active ETFs and Efficiency
06:43 Asia Ecosystem Differences
07:40 How digital investors are influencing ETF adoption
08:59 Why local market listings matter for ETF accessibility
11:27 How ETFs are becoming more integrated into portfolio construction
13:52 Asia Weekend Travel Picks
15:05 Wrap Up and Disclosures

Sources: BlackRock client Survey May 2026
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ETFs Asia, ETF adoption, portfolio construction, Asia markets, digital investors, liquidity management, passive investing
This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.