The Invested

On this episode, Prerna Mathews, VP of ETF Product Strategy, and Luc Lafleur, AVP of Portfolio Construction at Mackenzie Investments, share their insights on how advisors can optimize portfolio construction with ETFs and how ETFs can contribute to running efficient advisory practices. Prerna and Luc explore the impact of global economic drivers on portfolio strategies and the importance of aligning strategic asset allocation with investment goals. Prerna and Luc also discuss active and passive investing, how to avoid common portfolio construction mistakes, and the versatility of ETFs in both strategic and tactical allocations. Further Reading: - How advisors can fight behavioural biases with ETFs - Your step-by-step guide to active ETF due diligence This episode was recorded on July 26, 2024.

Although the market did not anticipate a rate cut, early indications suggest the Fed is leaning towards cutting rates in September. On this episode, Dustin Reid, Chief Fixed Income Strategist, discusses the recent Fed meeting, analyzing the Fed’s forward guidance and the likelihood of upcoming rate cuts. Dustin also highlights key Canadian economic data and potential further rate cuts by the BoC, updates from the Bank of Japan, and insights on the US election’s potential impacts on market volatility. This episode was recorded on August 1, 2024.

On this episode, Lesley Marks, Chief Investment Officer of Equities, discusses the Bank of Canada’s latest rate cut decision, explores the driving factors behind monetary policy and its implications for the Canadian economy. Lesley also offers her insights on the commodity market, highlighting how copper is poised for growth and its crucial role in the energy transition and AI infrastructure. This episode was recorded on July 26, 2024.

On this special episode of Market Exchange, Dustin Reid, Chief Fixed Income Strategist, recaps the pivotal events leading to Vice President Kamala Harris’ rise as the presumptive Democratic nominee. Dustin analyzes the potential market and economic implications of a Harris administration. Dustin also explores the dynamics of the so-called ‘Trump trade’ and examines how the Vice Presidential nominees could influence this year’s election. This episode was recorded on July 25, 2024.

Is value investing poised for a comeback in the current market environment? In this episode, Richard Wong, Portfolio Manager and Head of Mackenzie Cundill Team, explores this question. Richard discusses why he believes the market is shifting towards value, highlighting value investing’s historical outperformance during periods of structurally positive inflation and interest rates. Richard also discusses three categories of value stocks – quality, cyclical, and deep value – and where he sees opportunities. This episode was recorded on July 9, 2024.

On this episode, Dustin Reid, Chief Fixed Income Strategist, discusses the latest CPI data and its implications for the Fed’s monetary policy. Could this suggest a path forward for the Fed to begin a rate cutting cycle as we approach the end of the summer? Dustin also explores the potential market implications of a Trump victory and a Republican sweep in the upcoming US elections. This episode was recorded on July 11, 2024.

What are active ETFs and what is behind their growing popularity in Canada? On this episode, Prerna Mathews, VP of ETF Product Strategy, and Andres Rincon, Head of ETF Sales and Strategy at TD Securities, discuss the intricacies of active ETF structures, and the similarities and differences in trade experiences between active and index ETFs for advisors and investors. Prerna and Andres also examine the impact of trading global equity and fixed income ETFs in a T+1 trading environment. Further Reading: - The value of active fixed income ETFs This episode was recorded on June 20, 2024.

What has been causing the surprising upward trend in gold prices despite rising real rates? On this episode, Benoit Gervais, Portfolio Manager and Head of Mackenzie Resource Team, explores how the demand for gold has been shifting from the Western world to Asia. Benoit also discusses the factors influencing commodity trends such as politics, the energy transition, and AI’s impact on today’s market. This episode was recorded on June 14, 2024.

With CPI showing signs of easing, indications from the Fed reveal they aren’t in a rush to lower rates. On this episode, Dustin Reid, Chief Fixed Income Strategist at Mackenzie Investments, discusses how the markets have been reacting to the latest CPI report and Fed decision. Dustin also touches on the ECB’s decision to cut its benchmark rate by 25 basis points, increased volatility in emerging markets – specifically in Mexico – and recent portfolio trades. This episode was recorded on June 13, 2024.

The investment and economic water have smoothed over the last six months, yet market expectations of interest rate cuts were challenged by resilient growth and inflation. On this special episode, Lesley Marks, CIO of Equities, and Steve Locke, CIO of Fixed Income and Multi-Asset Strategies, discusses their market outlook for the rest of 2024. Topics discussed in their conversation include: Global growth and the US economy Inflation and interest rates Bond market volatility and opportunities Impacts of the energy transition on equity and fixed income markets Market implications of generative AI Geographic investment opportunities For more insights and perspectives, download our 2024 mid-year market outlook. This episode was recorded on May 31, 2024.