Bloomberg Surveillance Bloomberg Surveillance TV: January 9th, 2026
Jan 9, 2026
Doug Burgum, U.S. Secretary of the Interior and former North Dakota governor, shares insights on the potential reopening of energy ties with Venezuela and the importance of corporate investment in its infrastructure. Stephen Major, Global macro advisor at Tradition, discusses recent economic data and the bond market's shift towards lower interest rates despite volatility. Priya Misra from J.P. Morgan delves into Fed policy, rate-cut expectations, and their implications for housing markets, especially around mortgage affordability and MBS plans.
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Energy As National Security
- Gov. Doug Burgum argues energy and border security are central to national security and economic prosperity.
- He frames restoring relations with Venezuela as an opportunity to rebuild supply chains and lower domestic inflation.
Huge Corporate Interest In Venezuela
- Burgum says interest from U.S. companies in Venezuelan resources is "through the roof" across upstream to downstream sectors.
- He highlights collapsed Venezuelan mining and power sectors as broad investment opportunities beyond oil.
Lower Break-Evens Encourage Investment
- Burgum cites Interior lease sales and deregulation as ways the administration lowers break-even costs for U.S. producers.
- He implies companies should expect improved economics and competitive U.S. production to sustain investment.