
Bloomberg Daybreak: US Edition Daybreak Weekend: Housing Outlook, Europe Culinary Trends, Australian Eco
17 snips
Jan 2, 2026 Mike McGlone, a Senior Commodities Strategist at Bloomberg Intelligence, shares insights on the volatile oil market and the implications of gold's recent rally. Kate Crader, Food Editor at Bloomberg Pursuits, discusses the evolving dining scene in London, highlighting both standout and struggling restaurants. Meanwhile, economist James McIntyre unpacks Australia’s inflation dynamics and how migration is unexpectedly boosting demand. Each guest provides a unique perspective on trends shaping economic and culinary landscapes.
AI Snips
Chapters
Books
Transcript
Episode notes
Gold-Oil Divergence Signals Deflation Risk
- Gold rallied sharply in 2025, creating an unusual disparity with industrial commodities like oil falling.
- Mike McGlone warns this gold-oil divergence signals a potential global deflationary trajectory and rising market volatility.
Structural Forces Pressuring Oil Prices
- McGlone expects crude oil to trend lower in 2026 with intermittent sharp rallies.
- He cites EV adoption, advancing technology and excess supply as structural downwards forces for oil.
AI Demand Favors Metals Over Oil
- Energy for AI shifts demand toward metals like silver and copper and toward natural gas for electricity.
- McGlone highlights copper as the key wildcard whose weakness could trigger wider deflationary dominoes.






