BMO Views from the North

Matthew Baird, part of BMO’s institutional fixed income sales team in Vancouver, shares his expertise on the Canadian rates market. He discusses the upcoming Bank of Canada policy announcement, debating potential interest rate hikes alongside current economic indicators. The conversation dives into the relationship between inflation and wage dynamics, highlighting the challenges for central banks. Baird also analyzes Canadian bond market trends and offers insights on trading strategies as we gear up for 2025.

In this episode, Douglas Porter, BMO’s Chief Economist, joins me to discuss how President-elect Trump’s return to the White House could impact the Canadian economy, the outlook for the Bank of Canada, interest rates and the Canadian dollar as we head into an uncertain 2025.As always, all feedback is welcome.

Joel Prussky, BMO’s OIS and cross-currency trader, shares his expert insights into the Canadian rates market. He discusses the recent 50 basis point rate cut by the Bank of Canada and whether further cuts are on the horizon. The conversation navigates the contrasting monetary policies between Canada and the U.S., highlighting the economic pressures of inflation and consumer behavior. Prussky also sheds light on how interest rate changes influence investment strategies as we approach year-end, providing a nuanced view of North America's financial landscape.

In this episode, Adam Whitlam, part of BMO’s Canadian institutional fixed income sales team, joins me to discuss the impact of the latest GDP figures on the outlook for Bank of Canada, the coming changes to mortgage insurance regulations, investors’ views on duration, why provincial spreads look attractive, and our favourite trade ideas.As always, all feedback is welcome.

In this episode, Chris D’Onofrio, one of BMO’s Canadian dollar swap traders, joins me to discuss last week’s Bank of Canada rate cut, terminal rates and where markets might be mispricing the outlook for monetary policy, and whether swap spreads will remain under pressure.As always, all feedback is welcome.

With the kids heading back to school, while we just keep on working, I’m joined by Sam Buckley, Head of BMO’s Government of Canada trading desk, to discuss what to expect at next week’s Bank of Canada policy announcement, his thoughts on the yield curve, and opportunities for the rest of 2024.As always, feedback is welcome.

In this episode, Darren Campbell, BMO’s head of FICC Investor Sales Canada, joins me to discuss the path for the Bank of Canada and Federal Reserve, where terminal might be and how that could impact the yield curve, and provincial credit spreads.As always, all feedback is welcome.

In this episode, Adam Whitlam, part of BMO’s Canadian institutional fixed income sales team, joins me to discuss the surprisingly firm May inflation figures, the impact on the Bank of Canada, and the global financial market backdrop.As always, all feedback is welcome.

Joel Prussky, BMO's OIS and cross-currency trader, discusses the Bank of Canada rate cut, BoC/Fed divergence impact on the C$, and cross-currency market dynamics. Topics include potential rate cuts, currency market opportunities, forward surplus analysis, offshore issuance by Canadian provinces, market strategies for funding needs, and client opportunities in the Canadian rates and macro market.

In this episode, Chris D’Onofrio, one of BMO’s Canadian dollar swap traders, joins me to discuss our expectations for the June Bank of Canada policy announcement, the takeaways from our recent marketing trip to London, and structural flows that continue to drive the rates market.As always, all feedback is welcome.