Macro Horizons

Dan Krieter and Dan Belton discuss likely changes in the composition at the Fed including the likely next Chair and Vice Chair for Supervision. They also discuss what the Fed’s new regulatory regime might look like and its implications for credit and swap spreads.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 8th, 2021, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from our FICC Macro Strategy bring you their reactions to the November FOMC meeting and other main narratives that are dominating market pricing and what these themes imply for US rates, high quality spreads and foreign exchange.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 1st, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss seemingly the only factor driving credit markets: inflation. They also debate how their inflation outlook will impact credit markets going forward.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 25th, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss the unexpected dip in the overnight SOFR rate including its drivers and implications for investors. Other topics include recent factors impacting credit markets, developments in the LIBOR/SOFR transition, and SOFR swaps.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 18th, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss four factors likely to bring a new, wider range in credit spreads in 2022 including inflation/growth concerns, monetary policy, fiscal policy, and technicals. Other topics include recent norms for credit spread ranges.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 12th, 2021, and respond to questions submitted by listeners and clients.

Margaret Kerins along with with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton and Ben Jeffery from our FICC Macro Strategy discuss the new range for US rates and what to expect in 2022, potential implications of Fed taper on TIPS pricing and what this means for nominal yields, oil prices and the FX market, G10 monetary policy stances, inflation versus growth in Can...

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 4th, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton debate the case for credit spreads moving wider or narrower and the factors most likely to impact credit in the near- and medium-terms including Fed tapering, the growth and inflation outlooks, and supply and demand technical.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 27th, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their main takeaways from the September FOMC meeting, including guidance from the Fed that a taper announcement is likely due in November. Other topics include the hawkish Fed dots, discussion around the next Vice Chair for Supervision, and implications for credit spreads.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 20th, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss the recent onslaught in high grade corporate supply and what to expect for issuance the rest of September. They then discuss looming technical changes facing high grade credit markets including the impact of the debt ceiling resolution, Fed tapering, and possible Treasury coupon auction cuts on reserve balances and credit spreads.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 13th, 2021, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Ben Reitzes, Dan Belton and Ben Jeffery from BMO CM's FICC Macro Strategy team discuss whether or not employment data will derail taper timing, the separation of taper from from liftoff timing, credit spread and supply outlook, Canadian elections, GDP miss and implications for the BoC and the main themes driving currencies into y...

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 7th, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss what to expect with respect to the coming wave of issuance following the long weekend and how the market will absorb the new supply. Other topics include the important role that fiscal policy will play in coming months.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 30th, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss credit spreads in the current directionless markets ahead of this week’s much awaited Jackson Hole Symposium. Other topics include coming changes at the Fed and expectations for financial regulation in 2022 and 2023.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 23rd, 2021, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their outlook for credit spreads through three distinct factors: technicals, fundamentals, and the macro landscape. On balance, they conclude these factors should point to narrower spreads with credit spreads likely to retest cyclical tights into year-end.