Asks about real impact of Venezuela headlines on oil markets.
speaker1
Jim Bianco
Venezuela cannot ramp up production; its oil was going to China, which now must bid in open market, pushing prices higher short-term.
Asks where oil markets are going this year.
speaker1
Jim Bianco
Without Venezuela news, crude would drift higher first half of year; still expects that case.
Asks view on bond market, specifically the 10-year yield which fell in 2025.
speaker1
Jim Bianco
US 10-year yield was the only developed market yield to fall in 2025, an outlier that will reverse and be a bit higher.
Asks about Trump's influence on next Fed chair and policy.
speaker1
Jim Bianco
Trump will pick someone committed to 1% funds rate, but FOMC independence may prevent implementation.
Asks about next Fed chair and Trump's influence on rates.
speaker1
Jim Bianco
Trump wants Fed chair committed to 1% funds rate, but FOMC may assert independence.