Macro Horizons
BMO Capital Markets
BMO strategists discuss the week ahead in U.S. rates and global trends in the FICC macroclimate. Ian Lyngen, Ben Jeffery, and Vail Hartman provide weekly updates on the Fixed Income, Currencies, and Commodities (“FICC”) markets, bringing you thoughtful and timely insights on the U.S. Rates market and respond to questions submitted by listeners and clients. Macro Horizons delivers relevant and insightful commentary to help investors navigate the ever-changing global market landscape. For legal disclosure, visit http://www.bmocm.com/macrohorizons/legal
Episodes
Mentioned books
Jan 21, 2026 • 18min
Patience at the Fed
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 26th, 2026, and respond to questions submitted by listeners and clients.
Jan 16, 2026 • 18min
January Drift
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 20th, 2026, and respond to questions submitted by listeners and clients.
Jan 9, 2026 • 18min
HNY
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 12th, 2026, and respond to questions submitted by listeners and clients.
Dec 19, 2025 • 19min
Dear 2025, Thanks For the Memories
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 22nd, 2025, and respond to questions submitted by listeners and clients.
Dec 12, 2025 • 17min
A BLS Revival
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 15th, 2025, and respond to questions submitted by listeners and clients.
Dec 5, 2025 • 16min
Solace in Solstice
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 8th, 2025, and respond to questions submitted by listeners and clients.
Nov 26, 2025 • 19min
Giving Thanks
This week, the hosts dive into the recent ADP weakness and its implications for labor markets and Fed expectations. They analyze disappointing retail sales and what it means for core PCE momentum. Discussion turns to the uncertainty caused by government shutdowns, while they review Treasury yields and rising odds of Fed cuts. The hosts debate the Fed's focus on economy-wide versus asset-driven demand. They also highlight upcoming private indicators that could influence market expectations. A year-end yield target of 3.85% rounds out their insights.
Nov 21, 2025 • 19min
Et Tu, Santa Pause?
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 24th, 2025, and respond to questions submitted by listeners and clients.
Nov 14, 2025 • 19min
The Grand Reopening
Ian and Ben discuss the reopening of the federal government and its implications for economic data. They analyze shifts in Treasury correlations and the limited macro impact of recent equity corrections. The conversation turns to potential December rate cuts and how the upcoming Fed chair nomination could shape monetary policy into 2026. They also address expectations for key economic data releases and a defined trading range for 10-year yields, along with the policy implications of reaccelerating growth and reduced trade uncertainties.
Nov 6, 2025 • 19min
The Supremes
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 10th, 2025, and respond to questions submitted by listeners and clients.
