Macro Horizons

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 5th, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss whether the recent rally in credit will be sustained into the new year or is merely another bear market rally. Other topics include 2023 supply projections in high grade and SSA markets, preferred positioning along the spread curve, and the potential for a wave of rating downgrades in 2023.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 28th, 2022, and respond to questions submitted by listeners and clients.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 21st, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss the strong rally in credit following Thursday’s CPI print and discuss the level at which relative value will no longer favor overweight positions in credit. Other topics include recent ranges in credit, fair value estimates for spreads, and the health of corporate balance sheets heading into a likely economic slowdown in 2023.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 14th, 2022, and respond to questions submitted by listeners and clients.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 7th, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their takeaways from the November FOMC meeting and volatile market reaction to a dovish statement followed by messaging of a higher terminal rate. Other topics include market expectations for a pivot, monetary policy lags, and the narrowing window for a soft landing.

Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO Capital Markets’ FICC Macro Strategy team discuss the upcoming FOMC meeting and whether or not the Fed can actually be credible about forward guidance for upcoming meetings and holding terminal after messaging back in May that 50 bp rate hikes should be on the table for the next few meetings and then actually raising rates by 75 bp at each meeting since then coupled with the huge revisions to the dot plot from June to September. The team discusses economic uncertainty and geopolitical risks and how these factors impact our outlook for US and Canadian Rates, IG credit, and foreign exchange.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 31st, 2022, and respond to questions submitted by listeners and clients.