E175 – Markets May Be Too Optimistic on Rate Cuts

U.S. inflation eases to 4.9% in April, its lowest rate in two years. On today’s special episode, portfolio managers Matt Montemurro, Vishal Bhatia and your host Mckenzie Box explore whether this data will influence the Fed’s potential pause. They also discuss gold’s recent rally, when we could see yield curve normalization and Big Oil’s profits. Read the episode summary. Mckenzie Box is Director of Product and Strategy at BMO Global Asset Management. She is joined on the podcast by Matt Montemurro and Vishal Bhatia, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on Wednesday, May 10, 2023. Read: BMO GAM’s Monthly Covered Calls and Enhanced Income Report ETFs mentioned in the podcast: BMO Short-Term US TIPS Index ETF (Ticker: ZTIP) BMO US TIPS Index ETF (Ticker: TIPS) BMO Equal Weight Global Gold Index ETF (Ticker: ZGD) BMO Long Federal Bond Index ETF (Ticker: ZFL) BMO Long-Term US Treasury Bond Index ETF (Ticker: ZTL) BMO Ultra Short-Term Bond ETF (Ticker: ZST) BMO Short Corporate Bond Index ETF (Ticker: ZCS) BMO Money Market Fund ETF Series (Ticker: ZMMK) BMO Equal Weight Oil & Gas Index ETF (Ticker: ZEO) Disclosure: Commissions, management fees and expenses (if applicable) may be associated with investments in mutual funds and exchange traded funds (ETFs). Trailing commissions may be associated with investments in mutual funds. Please read the fund facts, ETF Facts or prospectus of the relevant mutual fund or ETF before investing. Mutual funds and ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. For a summary of the risks of an investment in BMO Mutual Funds or BMO ETFs, please see the specific risks set out in the prospectus of the relevant mutual fund or ETF. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO Mutual Funds are offered by BMO Investments Inc., a financial services firm and separate entity from Bank of Montreal. BMO ETFs are managed and administered by BMO Asset Management Inc., an investment fund manager and portfolio manager and separate legal entity from Bank of Montreal. The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

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