Scotiabank Market Points

In this episode of Market Points, Patrick Bryden, Managing Director, Global Head of Thematic and Sustainability Investment Research, Global Equity Research, Olivier Gervais, Director, Modelling and Forecasting, Scotiabank Economics, and Hugo Ste-Marie, Analyst, Portfolio and Quantitative Strategy, Global Equity Research, discuss key findings from their latest Scotiabank 360° Multi-Asset Investment Ideas report, What If the Oil Shock Intensifies? Implications for the Canadian Economy and Beyond. They examine how the current oil shock compares with historical crises, when higher prices may stop being a clear positive for Canada, and what different oil price scenarios could mean for global equities, fixed income, and commodities.

In this special episode of Market Points, Patrick Bryden, Managing Director, Global Head of Thematic and Sustainability Investment Research at Scotiabank, speaks with Alex de Vries-Gao, Founder of Digiconomist, about the fast-growing energy demands of artificial intelligence. Drawing on his recent research, Alex explains the challenges of quantifying AI’s power consumption, the gaps in corporate disclosure, and the environmental implications as AI usage expands. Together, they explore how the rapid rise of AI is reshaping global electricity demand and what this means for policy, sustainability, and innovation moving forward.

Global trade is shifting—and the pressure is on. In the latest episode of Market Points, Dyanne Carenza, Managing Director, Global Trade & Working Capital Solutions, and Matthew Parker-Jones, Senior Vice President, International Commercial Banking, dive into the rising complexity CFOs and treasurers face across the Americas. From fractured supply chains to FX volatility, discover how Scotiabank is helping corporates build resilient, multi-regional strategies with trusted execution and advisory support.

In this episode of Market Points, host Chris Kelly, Director and Head, U.S. Rates Sales, is joined by Boris Sender, Director, U.S. Rates Strategy, and Roger Quick, Director, Canadian Rates Strategy, to discuss key developments in the U.S. and Canadian rates markets. They cover the growth boost from U.S. tax cuts versus the drag from tariffs, Canada’s relative insulation from trade tensions, and shifting fiscal landscapes on both sides of the border. The team also explores central bank outlooks, implications for bond issuance, and insights on swap spreads for institutional investors and corporates navigating an evolving macro backdrop.

After years of dominance, the U.S. dollar is showing signs of a long-term reversal. In this episode of Market Points, Shaun Osborne, Managing Director and Chief Currency Strategist, is joined by Eric Theoret, FX Strategist, to unpack what’s driving the recent weakness in the greenback. They explore structural and cyclical pressures including fiscal and trade policy uncertainty, and the growing chatter around de-dollarization. With implications for Canadian investors and the potential for a stronger loonie even in turbulent markets, the conversation offers essential context on where the dollar may be headed.

In this timely episode of Market Points, host Patrick Bryden, Managing Director, Global Head of Thematic and Sustainability Investment Research at Scotiabank, welcomes renowned Oxford professor and author Karthik Ramanna to discuss his latest book, The Age of Outrage: How to Lead in a Polarized World. Ramanna explores the drivers of societal outrage and emphasizes that traditional crisis management is inadequate for the current era. He shares practical insights from behavioural science to help leaders “turn down the temperature” and illustrates how successful organizations build resilience and navigate polarization by aligning authentically with their core missions. This conversation provides business leaders with a nuanced, realistic, yet optimistic guide to managing and thriving amid today’s complex challenges.

Businesses often face a “rollercoaster” of surprises when managing their treasury operations. Manual processes, handling traditional paper checks, and crafting new solutions to fit into existing workflows are only a few of the hurdles. On this episode of Market Points, Mike Suppa, Director and Head, Client Solutions and Partnerships, and Jonathan Poupart, Director, Cash Management Solutions, share examples of client feedback and how uncovering their pain points help drive innovative banking solutions. Whether through strategic partnerships or in-house expertise, Scotiabank has found that client-driven collaboration is core to making banking easier for all businesses.

In this episode of Market Points, host Mark Mulroney, Vice Chair, Global Banking and Markets, is joined by Pete Gordon, Director, Equity Capital Markets, to break down investor sentiment and expectations for the IPO market in 2025. Drawing insights from a recent investor survey, they explore the shift toward higher risk appetite, the role of private capital, and key factors influencing IPO performance. With a strong pipeline of IPOs anticipated, be sure to tune in for expert analysis on what’s driving the IPO market and what to watch for in the months ahead.

Where are U.S. rates and swap markets headed in 2025? In this engaging episode of Market Points, Boris Sender, Director, U.S. Rates Strategy, leads a dynamic discussion with Scotiabank colleagues Charles Comiskey, Managing Director, U.S. Rates Trading, and James Williamson, Director, USD Swap Trading. Together, they break down the key drivers behind recent market moves, the Federal Reserve’s evolving stance, and the role of policy uncertainty under the new administration. This episode delivers actionable insights to help investors navigate a pivotal year for fixed income markets, so tune in for expert perspectives on what’s shaping the U.S. rates landscape and how to position for what’s next.

On this episode of Market Points, Scotiabank’s Michelle Khalili, Managing Director and Global Head, Equity Capital Markets (ECM) and Corporate Finance Advisory, hosts a discussion reflecting on the key themes of 2024 and the outlook for 2025. Featuring John Cronin, Managing Director and Head, U.S. ECM; Matt Sheehan, Managing Director and Head, Canadian ECM; and Charles Kerecz, Managing Director and Head, Global Equity Private Placements, this episode explores the activity in the Canadian and U.S. equity capital markets, the outlook for IPOs and M&A, and the evolving dynamics between public and private capital. Tune in to hear insights on issuance trends, and what investors can expect as markets continue to normalize in the year ahead.

Shifting political landscapes are creating new challenges and opportunities for commodity markets and investors. On this episode of Market Points, Nick Pocrnic, Director, Mining Sales Specialist, Global Equity Sales, hosts a panel of experts—Hugo Ste-Marie, Analyst, Portfolio & Quantitative Strategy; Ovais Habib, Analyst, Gold & Precious Minerals; and Orest Wowkodaw, Analyst, Metals & Mining, and together they discuss how different U.S. election outcomes could influence key commodities like gold, silver, copper, and uranium. They also explore broader themes such as the green transition and the growing energy demands of AI. Tune in to hear where opportunities may lie and how investors can navigate potential market shifts amid this pivotal moment in U.S. politics.

Mexico is at the center of a historic shift in global value chains to produce semiconductors and electronics. This has catalyzed strong growth of the Electronic Manufacturing Services (EMS) industry in Guadalajara and across the state of Jalisco. On this episode of Market Points, Rodrigo Echagaray, Managing Director, Head of Latam Equity Research and Global Head of Product Management, speaks with Analysts Andres Coello and Francisco Suarez about the factors driving this new frontier. They explore why existing infrastructure, integrated value chains and education advancements are ideally positioning Guadalajara for EMS opportunities ahead, as well as the real estate trends being fueled by EMS growth. And with a newly elected administration, led by President-elect Claudia Sheinbaum, we’ll explore what investors should watch for and how the incoming policies and priorities will spur nearshoring and EMS-related growth. View Reg AC Certification and Disclosures

Dormant sectors came back to life in the first half of 2024, significantly boosting debt market activity and issuance. On this episode of Market Points, Patrick Dabiet, Managing Director and Co-Head, Canadian Debt Capital Markets, and Fadi Attia, Managing Director and Head, U.S. Debt Syndication highlight leading sector issuance, key risks, and emerging opportunities. They discuss the factors shaping the market, including the U.S. Federal Reserve Board’s policy messaging and anticipated easing. They also look beyond the risks and uncertainty linked to the U.S. election to consider insights and opportunities for strategic investors.