BMO Views from the North

In this episode, Adam Whitlam, head of the Toronto rates sales desk, joins me to discuss the economic and market backdrop amid the ongoing war in Iran. We cover lots of ground from positioning to provincial spreads and my recent trip to London. While there’s plenty of uncertainty clouding the outlook, there remain pockets of opportunity with Adam outlining a few trade ideas. As always, all feedback is welcome.

In the first episode of 2026, Jeff Oland, part of BMO’s Government of Canada bond trading team, joins me to discuss next week’s Bank of Canada policy announcement, the state of the Canadian economy, the wild headlines over the past few weeks, as well as market thoughts and trade ideas. As always, all feedback is welcome.

In this episode, Sam Buckley, Head of BMO’s Government of Canada trading desk, joins me to discuss Canada’s massive December 1 index extension, the outlook for the Bank of Canada and Fed, as well as his thoughts on what’s in store for 2026 and some trade ideas into year end. As always, all feedback is welcome.

In this episode, Manmit Pandori, head of tactical and accrual trading at BMO Capital Markets, joins me to discuss the current state of the credit market, whether spreads can keep tightening, how his team is positioning themselves, and what could blow it all up. 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 persistent richness of credit spreads, North American inflation dynamics and the divergence in how the BoC and Fed are reacting, as well as an update on what's topical in fixed income markets. As always, all feedback is welcome.

In this episode, Robert Kavcic, a Senior Economist from the BMO Economics team, joins me to share his insights on the state Canadian housing market, the fundamental drivers, regional differences, how much further prices might have to fall, and where the market is heading over the coming years. As always, all feedback is welcome.

BMO hosted its 12th annual Government, Reserve & Asset Managers Conference last week in Toronto. I had the privilege of moderating a panel titled "Capital Flows in a Time of Stress". The panel featured Manmit Pandori, MD, Head of Tactical & Accrual Trading at BMO CM, Avi Hooper, Senior Advisor at ABP Invest, and Matthew Emde, Director General, Funds Management, Government of Canada. This episode of Views from the North is a recording of the panel that was held on the morning of May 8th. Thank you for listening. As always, all feedback is welcome.

In this episode, Manmit Pandori, head of tactical and accrual trading at BMO, joins me to discuss President Trump's tariff announcement, the financial market reaction, how the macro backdrop might unfold, and how he is managing risk in this highly volatile and uncertain world. As always, all feedback is welcome.

In this episode, Chris D’Onofrio, one of BMO’s Canadian dollar swap traders, joins me to discuss the on again/off again tariff threats, swap spreads, the upcoming Bank of Canada policy announcement, and his favourite trades. As always, all feedback is welcome.

In this episode, the Honourable Scott Brison, BMO Vice-Chair and a former Member of Parliament, joins me to discuss Canada’s political backdrop. Scott outlines the current state of the government amid President Trump’s tariff threats, his experiences with some of Canada’s key political figures ahead of what could be a spring election, and what’s needed to improve persistently weak productivity. Following the interview with Mr. Brison, I provide a quick take on my expectations for next week’s Bank of Canada policy announcement, and my favourite trade ideas. As always, all feedback is welcome. Episode Timecodes: 00:00 - Introduction 01:02 - Interview with the Honourable Scott Brison 42:39 - Preview of next week's Bank of Canada's policy decision

In this episode, Matthew Baird, part of BMO’s institutional fixed income sales team in Vancouver, joins me to discuss what to expect from next week’s Bank of Canada policy announcement, the North American fiscal backdrop, the outlook for 2025, and our favourites trades as we head into the New Year. As always, all feedback is welcome.

In this episode, Joel Prussky, BMO’s OIS and cross-currency trader, joins me to break down this week’s 50 bp rate cut from the Bank of Canada, whether more super-sized cuts should be expected, the extent of Canada-US policy divergence, and views on the market as we head toward year-end. As always, all feedback is welcome.