Loading summary
Freedom From Religion Foundation Announcer
This Marketplace podcast is supported by the Freedom From Religion Foundation. America is an idea, but progress isn't guaranteed. Today, those founding principles are being challenged by efforts to mix religion and government. The Freedom From Religion foundation is working to protect the Constitution and keep power where it belongs with we the people. Visit FFRF US America or text America to 511-511, text America to 511-511 and keep state and church separate. Tax fees may apply.
Assured Guaranty Advertiser
Are you looking to invest in municipal bonds? For extra protection? Buy bonds insured by Assured guarantee. It guarantees 100% of your principal and interest will be paid when due. Assured Guaranty has demonstrated its reliability and financial strength for nearly four decades. That's why the bonds they back are one of the safest investments you can make. Visit assuredguaranty.com assured guarantee a stronger bond
Nancy Marshall-Genzer
Will higher oil prices trickle through the economy Marketplace? I'm Nancy Marshall Gensler in Washington. The US And Iran remained far apart on a ceasefire, with President Trump taking to social media to warn the clock is ticking. The standoff is rattling global markets. Government bonds are rising, pushing up borrowing costs. And oil prices are moving higher this morning as traders worry the war in the Middle east will lead to a prolonged period of higher infl. For more, we're joined by Julia Coronado. She's founder and president of Macro Policy Perspectives. Hi Julia.
Julia Coronado
Good morning.
Nancy Marshall-Genzer
So we continue to see a sell off in global bonds this morning, pushing up the yield on the 10 year treasury bond to its highest level in 15 months. The 30 year treasury has now reached a two decade high. What is driving this? Is it geopolitical uncertainty, the war in the Middle east, or some of the sticky inflation we saw last week? All of the above.
Julia Coronado
Pretty much all of the above. We had several inflation readings last week that came in strong and not just energy, but it seems to be already spreading into things like airfares. And there's a lot more in the pipeline. So with no end in sight to the conflict and the Strait of Hormuz still closed, the prospect for even higher energy prices and even more spillover into other prices that is on the minds of markets this morning.
Nancy Marshall-Genzer
So what does this bond sell off mean for everyday borrowers, you and me, and the interest rates that we pay?
Julia Coronado
Well, it means that mortgage rates are going to rise. Rates on credit card borrowing are going to rise. Rates on car loans potentially are also going to rise. So anything that you borrow money for is going to get more expensive in addition to the higher prices you're paying at the pump. So it could be a summer of pain for the summer driving season and, and might not be so great for the housing market as well.
Nancy Marshall-Genzer
Yeah, oil prices are up this morning, Julia. So at what point does this kind of energy shock feed into inflation in a more lasting way? Or is that happening already?
Julia Coronado
It is starting to happen again. The prospect is that the next few months are gonna bring more, more of the same. You know, consumers are pretty good at least looking through a month or two of higher gas prices. But if this is going to last, you're going to start to see consumers tighten their belts. They just won't have the cash to look through it anymore.
Nancy Marshall-Genzer
Julia Coronado, founder and president of Macro Policy Perspectives and a professor at the University of Texas, Austin. Thank you.
Julia Coronado
My pleasure.
Nancy Marshall-Genzer
President Trump has withdrawn his $10 billion lawsuit against the Internal Revenue Service which alleged the IRS improperly released some of his financial records. This after reports the White House is floating a proposal create a nearly $1.8 billion fund to compensate supporters of the President who feel they were mistreated by previous administrations.
Dell Advertiser
Dell PCs with Intel inside are built for the moments that matter. For the moments you plan and the ones you don't. Built for the busy days that turn into all night study sessions. The moment you're working from a cafe and realize every outlet's taken the times you're deep in your flow and the absolute last thing you need is an auto update throwing off your momentum. That's why Dell builds tech that adapts to the way you actually work. Built with long lasting battery so you're not scrambling for the closest outlet. And built in intelligence that makes updates around your schedule, not in the middle of it. They don't build tech for tech's sake, they build it for you. Find technology built for the way you work. @dell.com DellPCS built for you.
Odoo Advertiser
Running a business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo, the only business software you'll ever need. It's an all in one fully integrated platform that makes your work easier. From CRM, accounting, inventory, e commerce and more. And the best part, Odoo replaces multiple expensive platforms for a fraction of the cost. This is why over thousands of businesses have made the switch. So why not you try Odoo for free@odoo.com that's o d o o.com byd
Nancy Marshall-Genzer
cars are popping up more and more on the streets of Brazil, one of the biggest car markets in the world. As gas prices spiked with the war in the Middle east, the Chinese EV maker sold more than 37,000 vehicles in Brazil in the first quarter of this year. That's a 70% jump from the same time last year. Giselle Rigatou explains how Brazil got to be the company's biggest market outside of China.
Giselle Regatato
Uber driver Albertini Nacioneto, who lives in the northeast city of Recife, almost gave up his job. I was losing money with a combustion car, he says. It was costing him roughly $500 a month to fill his tank. Inacio spent $30,000 on a BYD Dolphin plus last year. The car is excellent. It's working great is. In four years, BYD has sold almost a quarter million electric and plug in hybrid cars here. Murillo Briganci is chief operating officer of Pride Consulting. BYD is one of their clients. BYD invested a lot in marketing and offers very competitive prices, he says. BYD's Dolphin Mini is now the top selling car in Brazil. It costs $24,000. BYD produces the batteries, the software and the vehicles. That reduces costs, Briganchi says. In 2025, BYD surpassed Tesla to become the world's top EV seller. International expansion is key because BYD is facing stiff competition and lower profits in China. At the opening of BYD's factory in Kamasary, Bahia, last year, Brazil president Luizinas Lula da Silva celebrated that the company will produce 600,000 cars a year here. But Hula's own government conducted an investigation that found that BYD brought almost 500 Chinese workers without proper paperwork to build the plant. More than 150 were rescued in what they described as slavery like conditions. BYD declined to talk to Marketplace for this story. Paulo Feldman is a professor of economics and innovation at the University of so Paulo. He says there is a reason BYD cars are so cheap.
Paulo Feldman
Chinese companies, they get support from the government. Sometimes the support is huge, which is the case here, he says.
Giselle Regatato
The Chinese government is footing the bill.
Paulo Feldman
In my opinion, this is a kind of dumbbell.
Giselle Regatato
BYD is already the fifth most popular car brand in Brazil and wants to be number one by 2030. It won't be easy. More Chinese car companies are coming here and automakers are launching new models like American GM in partnership with South Korean Hyundai. In Brazil, I'm Giselle Regatao for Marketplace,
Nancy Marshall-Genzer
and in Washington, I'm Nancy Marshall Genzer with the Marketplace Morning Report. From APM American Public Media.
Ryan
There's so much happening in the world, and if you have particularly, shall we say, inquisitive kids it can be hard to answer their questions.
Dell Advertiser
Hi, I'm Ryan.
Bridget
And I'm Bridget. And we host Million Bazillion, a podcast from Marketplace about money for kids and their families. We help your little ones think big about important but tricky topics like taxes, gas prices, and even what a cashless society might be like.
Ryan
There's a bunch of new episodes out now, so go listen to Million Bazillion on your favorite podcast, apparently.
Date: May 18, 2026
Host: Nancy Marshall-Genzer
Guests: Julia Coronado (Macro Policy Perspectives), Giselle Regatato (Marketplace reporter), Paulo Feldman (Univ. of São Paulo)
This episode tackles how rising global energy prices—driven in part by the ongoing Middle East conflict—are beginning to spill over into broader economic indicators such as inflation, interest rates, borrowing costs, and even automotive markets worldwide. The host dives into what these changes mean for everyday consumers and global markets, with a special look at the boom of Chinese electric vehicles (EVs) in Brazil as a response to higher fuel prices.
Guest: Julia Coronado, Macro Policy Perspectives
(Segment starts at 00:58)
“We had several inflation readings last week that came in strong and not just energy, but it seems to be already spreading into things like airfares... With no end in sight to the conflict and the Strait of Hormuz still closed, the prospect for even higher energy prices, and even more spillover into other prices, that is on the minds of markets this morning.”
Reported by Giselle Regatato
(Segment starts at 05:38)
“I was losing money with a combustion car... It was costing me roughly $500 a month to fill his tank.”
“BYD invested a lot in marketing and offers very competitive prices.”
“Chinese companies, they get support from the government. Sometimes the support is huge, which is the case here.”
“The prospect for even higher energy prices and even more spillover into other prices, that is on the minds of markets this morning.”
“It could be a summer of pain for the summer driving season and might not be so great for the housing market as well.”
“Consumers are pretty good at least looking through a month or two of higher gas prices. But if this is going to last, you’re going to start to see consumers tighten their belts.”
“I was losing money with a combustion car... It was costing me roughly $500 a month to fill his tank.”
“Chinese companies, they get support from the government. Sometimes the support is huge, which is the case here.”
| Timestamp | Segment/Event Description | |-----------|-------------------------------------------------------------| | 00:58 | Introduction of energy price spillover story; Julia Coronado joins | | 01:32 | Discussion of bond yields soaring and market jitters | | 02:30 | Impact on borrowing and everyday consumers | | 03:06 | How inflation may become more persistent | | 05:38 | Feature on Chinese EVs (BYD) and Brazil’s shifting car market| | 06:09 | Uber driver firsthand account of cost-driven switch to EVs | | 06:32 | Pride Consulting on marketing, cost advantages of BYD | | 08:01 | Paulo Feldman on government support and Chinese car expansion|
The episode balances urgency—reflecting real market anxieties—with practicality and real-world impacts for listeners. As usual for Marketplace, the reporting is concise, fact-driven, and features direct voices from both experts and everyday people.
This episode spotlights how geopolitical risk and surging oil prices are quickly bleeding into broader economic woes, raising borrowing costs and fueling longer-lasting inflation concerns in the U.S. and abroad. In Brazil, the secondary ripple is a massive acceleration in EV adoption, with Chinese automaker BYD—heavily government-supported—breaking records, but not without labor controversy. Marketplace delivers a sharp, well-contextualized, and tangible look at today’s interconnected energy, finance, and consumer markets.