Bloomberg Surveillance Bloomberg Surveillance TV: December 30th, 2025
9 snips
Dec 30, 2025 
Mark Cabana, from Bank of America Global Research, discusses Fed policy and the implications of potential leadership changes. Constance Hunter, Chief Economist at EIU, warns of a bumpy road for the U.S. economy, citing geopolitical risks. Dana D’Auria, from Envestnet, analyzes year-end weakness in mega-cap tech stocks, while Nicole Bachaud from ZipRecruiter shares insights on gradual hiring trends and the impact of AI on jobs. Together, they explore themes of market volatility, economic data, and sector-specific hiring patterns.
AI Snips
Chapters
Transcript
Episode notes
Fed Composition Drives 2026 Rate Path
- Mark Cabana says Fed leadership and committee composition will crucially shape 2026 policy outcomes.
- A likely tilt toward lower rates and lower volatility is priced into markets if Powell leaves and the committee shifts.
Low Volatility From A Rate-On-Hold Fed
- Cabana argues a Fed staffed with members favoring lower rates narrows the range of rate outcomes and reduces rate volatility.
- Lower rate vol spreads through fixed income, FX and commodities, supporting growth and easing financial conditions.
Metals Signal Growth And Debasement Fears
- Strong global growth signals from metals like copper and precious metals reflect both growth and debasement concerns.
- Cabana sees weaker dollar and lower rates as potential tailwinds that boost commodities and financial conditions.