In this episode, Steve Englander, Global Head of G10 FX Strategy and North American Macro Strategy at Standard Chartered Bank, discusses the evolving US macro landscape heading into Q4. He examines the Fed's recent rate cut, the implications of rising productivity on the neutral rate, and the early impact of AI on the labour market. Steve shares his views on US dollar positioning, potential challenges to Fed independence, and downside risks to Canadian growth and currency performance. He also addresses the durability of the current carry trade environment and the broader implications of policy-driven market volatility. This episode was recorded on September 30, 2025.

In this episode, Tim Jones, Lead Policy Analyst at Medley Advisors, discusses the European Central Bank's rate outlook against a backdrop of shifting macro conditions and rising downside risks. He explores how currency moves and commodity prices could fuel disinflation, the fragility of services inflation, and what might trigger further policy easing. Tim also examines the EU's widening fiscal and political cracks within the EU, growing fiscal divergence between Germany and France, and the potential impacts of transatlantic relations with the US. Tim concludes with insights on European bond issuance and the structural shifts investors should watch for in the quarters ahead.    This episode was recorded on August 13, 2025. 

In this episode, Durham Abric, Head of US Inflation at Citadel Securities, shares his outlook on US inflation for the second half of 2025, the market's perception of inflation trends, and why tariff-related volatility has yet to be fully reflected in CPI numbers. He examines the Fed's current policy stance, the risks of policy missteps, and how housing market trends and immigration could influence inflation dynamics. Durham also highlights several factors that are shaping client sentiment and explains why long-duration TIPS may be undervalued in client portfolios.  This episode was recorded on June 25, 2025.

In this episode, Shahab Jalinoos, Managing Director and Head of G10 FX Strategy at UBS, shares his insights into the structural forces that could weaken the US dollar and challenge its long-standing global safe haven status. He examines the breakdown of traditional cross-asset correlations and explains how shifts in hedging strategies could drive appreciation in other currencies. Shahab also discusses the key factors that could lead to a sustained weakening in the dollar's value. This episode was recorded on May 29, 2025.

In this episode, Frank McKenna, Deputy Chair at TD Securities and former Canadian ambassador to the US, shares his insights on the outcome of the Canadian federal election, what it means for Prime Minister Carney, and potential implications for financial markets. He explores how external factors shaped Canadians' demand for decisive leadership and how Prime Minister Carney can govern assertively with a strong minority government. Frank also discusses the fiscal challenges facing the new government and potential economic implications moving forward.  This episode was recorded on April 29, 2025. 

In this episode, Donald Schneider, Deputy Head of US Policy at Piper Sandler and former Economic Staffer to Speaker Paul Ryan, provides a comprehensive overview of the Department of Government Efficiency (DOGE). He explains what DOGE is, its impact on the economy and markets, and what to expect going forward. Donald discusses DOGE's unconventional methods of achieving savings through executive actions, highlighting its progress in reducing administrative headcount and federal contracts. Additionally, Donald touches on the upcoming extension of the Tax Cut and Jobs Act, with the focus on making tax cuts permanent and introducing new pro-growth measures. This episode was recorded on March 18, 2025.

In this episode, Ali Jaffery, Executive Director and Senior Economist at CIBC Capital Markets, provides and in-depth analysis of the key macroeconomic themes affecting the Canadian economy. Ali explains why Canadian consumers remain cautious, highlighting the effects of mortgage rate resets and immigration policy changes on the housing market and broader economy. Ali also explores the potential economic impacts of the recently announced 25% tariffs on steel and aluminum and the implications of a trade war with the US.  This episode was recorded on February 10, 2025.

In this episode, Marko Papic, Senior Vice President and Chief Strategist at BCA Research, explores the geopolitical and macroeconomic issues likely to impact the markets under the coming years. Marko explains his approach to geopolitics and why material constraints often outweigh policymakers’ preferences. Marko also discusses the implications of US fiscal policy, tariffs, and the geopolitical risks posed by China and Iran under the Trump administration.

The Fed’s existence is rooted in congressional legislation but are there enough legal guardrails to prevent encroachment by the executive branch? In this episode, Dr. Larry Hatheway, Founder of HarbourAdvisors, explores how the Republican Party’s consolidation of power may reshape how the Fed operates. Dr. Hatheway discusses the potential for increased government oversight, the possibility of the White House influencing monetary policy, and what this could mean for inflation and market volatility. This episode was recorded on November 22, 2024.

In this episode, Ben Rabidoux, Founder of North Cove Advisors, rejoins hosts Matthew Schnurr and Dustin Reid for an update on the current trends and outlook of the Canadian real estate market. Ben discusses the challenges facing the condo market, including the potential for higher failure rates in closings in 2025 and 2026. He also examines the impact of recent interest rate cuts by the Bank of Canada, highlighting how these cuts may improve affordability for potential homebuyers while still posing challenges for those renewing their mortgages at higher rates. Lastly, Ben explores the implications of the federal government’s decision to reduce immigration targets, which could lead to slower population growth and a softer rental market. This episode was recorded on October 24, 2024.

With less than 65 days until the US presidential election, could this be the most investible election in history? In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Dan Clifton, Partner and Head of Policy Research at Strategas Securities to discuss the upcoming election and its market implications. Dan explores how stark policy contrasts between the candidates may create unique investment opportunities and which sectors could thrive under a Democratic or Republican victory. Dan also examines the potential executive actions under both a Harris and Trump presidency, highlighting significant impacts on tariffs, immigration policies, and regulatory changes. This episode was recorded on September 4, 2024.

Why should investors care about volatility and how can it be used to inform investment decisions? In this episode, hosts Matthew Schnurr and Dustin Reid are joined by David Wang, Director, FX Distribution and Volatility Strategies at TD Securities, to discuss the importance of volatility in financial markets, its role as a form of financial insurance, and its influence on asset allocation decisions. David also explores volatility in the FX market and how recent political events have influenced volatility. This episode was recorded on June 27, 2024.

With the US election less than six months away, how should investors begin to assess the potential impacts on emerging markets? In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Alejandro Cuadrado, Global Head of FX Strategy and Head of Emerging Markets Rate Strategy at BBVA, to discuss the implications of the US election in Latin America and Mexico. Alejandro explores what a Biden re-election or Trump victory could mean for new tariffs and the renegotiation of the USMCA agreement. This episode was recorded on May 16, 2024.

Will the movement of cash from consumers to the government, especially during tax season, significantly influence economic activity? In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Matthew Hornbach, Managing Director and Head of Macro Strategy at Morgan Stanley. Matthew explores how liquidity flows can offer insights into economic trends and influence investment decisions and asset valuations. Matthew also explains how immigration in 2023 has helped sustain economic growth and how the Fed uses all this data to inform monetary policy decisions. This episode was recorded on April 9, 2024.

While central bankers are confident in achieving a soft-landing scenario, when can we reasonably expect rates to begin to ease? In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Jason Daw, Head of North American Rates Strategy at RBC Capital Markets to discuss recent inflation metrics, the labour market, and the potential timing and sequencing of rate cuts from the Bank of Canada and the Fed. This episode was recorded on March 6, 2024.

What is the Sahm Rule and what does it mean for the US labour market and economy? In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Dr. Claudia Sahm, Founder of Sahm Consulting and former Principal Economist at the Federal Reserve Board. Dr. Sahm explains how the Sahm Rule can be used as an early indicator of a recession, how the robustness of the US labour market can provide a buffer against potential economic downturns, and why the Fed should consider cutting rates sooner rather than later. This episode was recorded on February 2, 2024.

Are we heading towards a global economic downturn? In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Francois Trahan, President of Trahan Macro Research, who shares his insights on the economy and market trends for 2024. Francois examines how the Fed’s rate hikes could lead to a potential recession and how a soft-landing scenario seems unlikely. This episode was recorded on January 4, 2024.

Join us for an in-depth discussion on the macroeconomic impacts of generative AI. In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Joseph Briggs, Senior Global Economist at Goldman Sachs, who delves into the transformative potential of generative AI and its potential impacts on the labour market, productivity, and various asset classes. Discover the long-term effects of AI on economies and gain valuable insights into its adoption, regional implications, and more. This episode was recorded on November 2, 2023.

Join us for an in-depth discussion on the dynamic landscape of Canada’s real estate market. In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Ben Rabidoux, Founder of North Cove Advisors, who explores the key trends and challenges facing this ever-evolving market. Discover how supply dynamics are affecting affordability across various regions and from single-family homes to condos. Gain insights into the risk factors associated with pre-construction condos and the potential impacts on buyers and investors. Ben also discusses the critical role of interest rates and the potential consequences of a higher-for-longer rate environment.   This episode was recorded on September 27, 2023.

Explore the intricate web of geopolitics, market dynamics, and global risks that are shaping the outlook on oil prices. In this episode, hosts Matthew Schnurr and Dustin Reid are joined by Daniel Sternoff, Head of Macro Energy at Energy Aspects. Daniel delves into Saudi Arabia’s strategic oil plans, China’s economic impacts on oil markets, and the delicate balance between supply and demand. Tune in to gain valuable insights into how geopolitical shifts and potential risks could influence oil prices. This episode was recorded on August 14, 2023.