Macro Horizons

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 18th, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss the recent volatility in credit spreads, and the likely near-term path looking ahead. Finally, they conclude with a discussion on supply technicals in both IG and SSA markets.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 11th, 2022, and respond to questions submitted by listeners and clients.

Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO Capital Market’s FICC Macro Strategy team bring their debate on how the recent geopolitical developments impact their outlook for the shape of the U.S Treasury curve, Canadian rates, high quality spreads and foreign exchange and the risks of a global slowdown.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 4th, 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 March 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 March 21st, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their reactions to the latest FOMC meeting including the strong rally in risk assets after the market priced a more aggressive path of rate hikes and several yield curve tenors inverted. Other topics include Chair Powell’s optimism on the economy, surprises from the SEPs, and balance sheet normalization.

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

Dan Krieter and Dan Belton discuss recent strains in unsecured funding markets including the reasons for elevated funding costs and how they are likely to evolve in the near-term. Other topics include the historical comparisons for elevated FRA/OIS spreads and the outlook for credit spreads.

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

Margaret Kerins along with Ian Lyngen, Ben Reitzes, Stephen Gallo, Dan Krieter, and Ben Jeffery from BMO CM’s FICC Macro Strategy team to bring their debate on how the recent geopolitical developments impact their outlook for monetary policy liftoff, US & Canadian rates, high quality spreads and foreign exchange and the main risks to these outlooks as discussed in today’s client call.

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

Dan Krieter and Dan Belton discuss the recent widening in credit spreads including when, and at what level, spreads are likely to find stability. Other topics include recent trends in supply and the outlook for primary markets.

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of February 22nd, 2022, and respond to questions submitted by listeners and clients.

Dan Krieter and Dan Belton discuss their estimates around balance sheet normalization including the terminal size of the Fed’s balance sheet and when normalization will conclude. Other topics include the possibility the Fed actively sells securities, implications of the standing repo facility, and the impact of QT on credit and swap spreads.

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

Dan Krieter and Dan Belton discuss the recent widening in credit as well as the levels and macro conditions that will result in stability in credit. Other topics include long-term fundamental outlook for corporate borrowers and recent trends in primary markets. 

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

Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Belton and Ben Jeffery from BMO CM’s FICC Macro Strategy debate the pros and cons of a 50 bp vs. 25 bp initial move tighter in the fed funds rate and the timing and pace of balance sheet normalization and the different implications for US and Canadian rates, high quality spreads, and foreign exchange.