BMO ETFs: Views from the Desk

Last week, the Bank of Japan loosened its yield curve control in a move that shocked markets. In today’s episode, portfolio managers Chris McHaney, Vishal Bhatia, and your host, Mckenzie Box, explore the latest developments and the potential implications of this shift. They also discuss China’s slowing economy, Fitch’s U.S. credit rating downgrade and agricultural commodities. Read the episode sum...

Office vacancy rates continue to rise, as hybrid and work-from-home trends take hold. In today’s episode, portfolio managers Matt Montemurro, Alfred Lee, and your host, Mckenzie Box, examine what this means for REITs and whether it will get worse before it gets better. They also discuss diversification strategies, trends in gold and ways to enhance after-tax returns. Read the episode summary. Mcke...

Are the central banks winning the battle against inflation? While the latest Canadian CPI print suggests we are moving in the right direction, it’s likely too early to call a victory. In this episode, Erika Toth and Alfred Lee discuss the latest quarterly Portfolio Strategy Report (QSR) and Fixed Income Strategy Report (FISR), which examine the inversion of the yield curve, the U.S. dollar, Canadi...

A shift toward international equities is seemingly underway, but what is the catalyst for this movement? In today’s episode, portfolio managers Chris Heakes, Omanand Karmalkar and your host, Mckenzie Box, analyze valuations and look for opportunities abroad. They also discuss U.S. and Canadian banks, mega-cap Tech stocks and infrastructure. Read the episode summary. Mckenzie Box is Director of Pro...

Following back-to-back increases, the Bank of Canada’s key interest rate now sits at 5%—the highest level in 22 years. On today’s episode, portfolio managers Alfred Lee, Chris McHaney and your host, Mckenzie Box, explore the impacts on markets and examine where monetary policy may be headed. They also discuss the latest U.S. CPI print, the Nasdaq’s rebalancing and ETF flows and trends. Read the ep...

Canada’s annual inflation rate cooled to 3.4% in May—still, further monetary tightening is widely expected. On today’s episode, portfolio managers Matt Montemurro, Chris McHaney and your host, Mckenzie Box, dig deeper into the data. They also discuss offsetting rising food costs, the Competition Bureau’s study into retail grocers, corporate bonds and swings in the Volatility Index. Read the episod...

Historically, an inverted yield curve has preceded every recession in the past 50 years. On today’s episode, portfolio managers Alfred Lee, Chris Heakes and your host, Mckenzie Box, examine what this quite reliable indicator is telling investors now. They also discuss inflation, the T-bill deluge, value and growth equities, the U.S. dollar and covered call strategies. Read the episode summary. Mck...

Earlier this week, the Federal Reserve left its policy rate unchanged for the first time in over a year, as expected. On today’s episode, portfolio managers Winnie Jiang, Chris Heakes and your host, Mckenzie Box, analyze where the meeting took a twist. They also discuss hedging strategies, quality dividend payers, the tax efficiency of discount bonds, and international markets. Read the episode su...

In this special episode, Sohrab Movahedi, Chris Heakes and Daniel Stanley take a deep dive into second quarter earnings from Canada’s “Big Six,” discussing how the mixed results weighed on investor sentiment. They also examine the markets’ reaction to higher rates and recession risk, the U.S. banking crisis, ETF strategies, TD Bank’s termination of the First Horizon merger, technology's resurgence...

This week, the Bank of Canada lifted its conditional pause, raising the key interest rate to 4.75%—a 22-year high. On today’s episode, portfolio managers Matt Montemurro, Chris McHaney and your host, Mckenzie Box, explore the likelihood of further rate hikes. They also discuss ways to monetize volatility, T-bill issuance and market seasonality. Read the episode summary. Mckenzie Box is Director of...

The artificial intelligence boom is here. But will it soon bust? On today’s episode, portfolio managers Matt Montemurro, Chris Heakes and your host, Mckenzie Box, analyze Big Tech’s growth prospects. They also discuss the tentative U.S. debt ceiling deal, the overheating economy and international equities. Read the episode summary. Mckenzie Box is Director of Product and Strategy at BMO Global Ass...

As second quarter earnings results trickle in, two Canadian banks fell short of analysts' expectations. On today’s episode, portfolio managers Alfred Lee, Chris McHaney and your host, Mckenzie Box, examine the markets’ initial reaction. They also discuss higher loan-loss provisions, gold prices, factor-based ETFs, the U.S. debt ceiling deadline, and investing in China. Read the episode summary. Mc...

Canadian CPI came in above expectations for April, prompting speculation about an end to the Bank of Canada’s pause on rate hikes. On today’s episode, portfolio managers Chris McHaney, Om Karmalkar and your host, Mckenzie Box, explore what this could mean for markets. They also discuss low-volatility strategies, the U.S. debt ceiling standoff, and what recent corporate earnings can tell us about t...

U.S. inflation eases to 4.9% in April, its lowest rate in two years. On today’s special episode, portfolio managers Matt Montemurro, Vishal Bhatia and your host Mckenzie Box explore whether this data will influence the Fed’s potential pause. They also discuss gold’s recent rally, when we could see yield curve normalization and Big Oil’s profits. Read the episode summary. Mckenzie Box is Director o...

In a recent announcement, the Federal Open Market Committee raised rates by 25 basis points in its 10th consecutive hike. On today’s special episode, portfolio managers Matt Montemurro, Chris Heakes and your host Mckenzie Box digest Federal Reserve Chairman Jerome Powell’s market-moving comments. They also discuss dividend strategies, the JPMorgan Chase takeover of First Republic, Canadian banks a...

As the default rate ticks higher, refinancing risk sits on the horizon. In today’s special episode, portfolio managers Alfred Lee, Matt Montemurro, and your host Mckenzie Box analyze the cracks in the banking system and where vulnerabilities lie. They also discuss tech giant earnings, First Republic’s plunging shares and the quality factor. Read the episode summary. Mckenzie Box is Director of Pro...

Canadian inflation cools to the lowest level since 2021, reaffirming the Bank of Canada’s pause. In today’s special episode, portfolio managers Chris Heakes, Chris McHaney, and your host Mckenzie Box explore what rate normalization means for markets. They also discuss recent bank earnings announcements, the benefits of low volatility investing, and the tailwinds building for gold. Read the episode...

Recent market events have taken investors on a walk down memory lane, as elements of the banking crisis look eerily similar to the challenges faced in the ‘80s and ‘90s. Where will regulators’ approaches lead? In this episode, Erika Toth and Alfred Lee discuss the latest quarterly Portfolio Strategy Report (QSR) and Fixed Income Strategy Report (FISR), which analyze the central banks’ rate decisio...

Earlier this week, Chicago Fed President Austan Goolsbee said the right monetary approach calls for prudence and patience, all while the pressure mounts for a pause. On today’s special episode, portfolio managers Alfred Lee, Matt Montemurro, and your host Mckenzie Box analyze the latest CPI prints North and South of the border. They also discuss a shift in market leadership, an uptick in interest...

Investor sentiment is divided on whether or not the liquidity crunch that hit U.S. regional lenders in early March is over, or there are still more ripple effects to come for the financial system. On today’s episode, portfolio managers Alfred Lee, Chris McHaney and your host Mckenzie Box discuss how best to position investors’ exposure to financial stocks. They also decipher what “additional tier-...

Investors have sold off Canadian banks alongside global peers in recent weeks amid Credit Suisse’s fire sale and broader financial-system concerns. On today’s episode, portfolio managers Vishal Bhatia, Chris Heakes and your host Mckenzie Box discuss how the selloff has created buying opportunities for longer-term investors. They also discuss other trading opportunities created by the recent volati...

In the wake of Silicon Valley Bank’s collapse, investors are left wondering: what’s next? On today’s special episode, portfolio managers Alfred Lee, Om Karmalkar, and your host Kevin Prins look for signs of contagion in other regional banks and analyze what cards the Fed has to play. They also discuss where the trouble began, inflation, volatility in the bond market, a silver lining for equities a...

In this special episode, Sohrab Movahedi, Chris Heakes and Daniel Stanley dive into first-quarter results from Canada’s “Big Six,” discussing how the banks are “rolling with the punches.” They also explore the possibility of a recession, putting credit costs into context, the philosophy of equal weighting, and the evolving Canadian housing ecosystem. Daniel Stanley is an ETF Specialist at BMO Glob...

Bond markets are once again grappling with the spectre of higher interest rate increases from the Fed, with high-yield issuers facing the fastest pace of ratings downgrades since early 2020. On today’s episode, portfolio managers Winnie Jiang, Alfred Lee and your host Mckenzie Box explore how investors should position their current fixed-income exposures. They also discuss the resurgence of Canadi...

With inflation data diverging, odds are growing that monetary policy will follow suit with the Fed forced to continue tightening rates while the Bank of Canada pauses. On today’s episode, portfolio managers Chris McHaney, Alfred Lee and your host Mckenzie Box discuss how to benefit from the expected policy divergence as the greenback strengthens in the near term. They also discuss the Canadian ban...