Macro Horizons
Episodes
An Uneasy Calm - High Quality Credit Spreads
14 Sep 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the narrow trading band in credit spreads which has held despite volatility in financial markets broadly. Other to...
Inflation Basket Case - The Week Ahead
09 Sep 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 12th, 2022, and respond to questions s...
Cycle of Crisis - Monthly Roundtable
08 Sep 2022
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO Capital Markets’ ...
A September To Remember - The Week Ahead
02 Sep 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 5th, 2022, and respond to questions su...
Countdown to Kickoff - High Quality Credit Spreads
31 Aug 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the upcoming September supply wave and what it likely means for high grade corporate and SSA markets. Other topics ...
Summer Swan Song - The Week Ahead
26 Aug 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 29th, 2022, and respond to questions subm...
Looking West - High Quality Credit Spreads
24 Aug 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent performance in credit spreads and what the impending Jackson Hole Symposium is likely to bring for the a...
Sure, At Some Point - The Week Ahead
18 Aug 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 22nd, 2022, and respond to questions subm...
Summit, Descent - The Week Ahead
11 Aug 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 15th, 2022, and respond to questions subm...
Inflating Expectations - High Quality Credit Spreads
10 Aug 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the July CPI report and what it means for credit spreads. Other topics include, market technicals, fundaments, and ...
Peak of Summer - The Week Ahead
05 Aug 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 8th, 2022, and respond to questions submi...
Holding onto Hikes - Monthly Roundtable
02 Aug 2022
Contributed by Lukas
Margaret Kerins here with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO Capital Markets’ F...
N.B.E.R.: The National Bureau of Evading Recessions - The Week Ahead
28 Jul 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 1st, 2022, and respond to questions submi...
Reactions to the July 2022 FOMC - High Quality Credit Spreads
27 Jul 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss their reactions to the July FOMC meeting including the risk-on response and Chair Powell’s suggestion that the Fe...
Summer Hike Wave - The Week Ahead
22 Jul 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 25th, 2022, and respond to questions submit...
Under the Hood - High Quality Credit Spreads
20 Jul 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent recovery in credit spreads and whether market technicals have fully rebounded. Topics include the return...
Reassessing Recession - The Week Ahead
15 Jul 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 18th, 2022, and respond to questions submit...
Won’t Back Down - Monthly Roundtable
12 Jul 2022
Contributed by Lukas
Margaret Kerins along with with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, and Dan Belton from BMO Capital Markets’ FICC Ma...
Inflation Conflation - The Week Ahead
08 Jul 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 11th, 2022, and respond to questions submit...
Night is Darkest…? - Hiqh Quality Credit Spreads
06 Jul 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss to drivers of the recent weakness in credit including their medium-term targets for index spreads and what might dr...
Sizing Up the Downside - The Week Ahead
30 Jun 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 5th, 2022, and respond to questions submitt...
Running of the Bears - The Week Ahead
24 Jun 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 27th, 2022, and respond to questions submit...
Defensiveness at a Discount - High Quality Credit Spreads
22 Jun 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent performance in credit, including why defensive sectors have not performed as well as they typically do d...
Fed-Tastic - The Week Ahead
17 Jun 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 21st, 2022, and respond to questions submit...
Reactions to the June 2022 FOMC - High Quality Credit Spreads
15 Jun 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss their takeaways from the Fed’s first 75bp rate hike since 1994. Topics include Chair Powell’s apparent change i...
Powell's Propensity - The Week Ahead
09 Jun 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 13th, 2022, and respond to questions submit...
Inflation Fixation - Monthly Roundtable
07 Jun 2022
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Belton and Ben Jeffery from BMO Capital Market’s FICC Macro St...
Half Point Habituation - The Week Ahead
03 Jun 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 6th, 2022, and respond to questions submitt...
Summer Jobs - The Week Ahead
26 May 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 31st, 2022, and respond to questions submitt...
Tightening Tensions - The Week Ahead
20 May 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 23rd, 2022, and respond to questions submitt...
Risk of Risk-Off - The Week Ahead
13 May 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 16th, 2022, and respond to questions submitt...
Rough Road for Rates - The Week Ahead
06 May 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 9th, 2022, and respond to questions submitte...
GRAMC Presentation - Monthly Roundtable
03 May 2022
Contributed by Lukas
Margaret Kerins along with Dan Krieter and Ben Jeffery from BMO’s FICC Macro Strategy Team discuss the main themes impacting rates and credit at BMO...
That 70s FOMO - The Week Ahead
29 Apr 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 2nd, 2022, and respond to questions submitte...
Making the Case: April 2022 - High Quality Credit Spreads
27 Apr 2022
Contributed by Lukas
Dan Krieter and Dan Belton debate the case for wider and narrower credit spreads. Topics include the evolution of Q1 earnings, technicals and new de...
Inversion Springs Eternal - The Week Ahead
21 Apr 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 25th, 2022, and respond to questions submi...
New Normalization - High Quality Credit Spreads
20 Apr 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent path of credit spreads including the impact of earnings, technicals, and market volatility. Then they di...
The Core Issue - The Week Ahead
13 Apr 2022
Contributed by Lukas
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 submi...
The Waiting Game - High Quality Credit Spreads
13 Apr 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent volatility in credit spreads, and the likely near-term path looking ahead. Finally, they conclude with ...
Inflate, Hike, Repeat - The Week Ahead
07 Apr 2022
Contributed by Lukas
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 submi...
Why So Negative? - Monthly Roundtable
05 Apr 2022
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO Capital Market’s ...
Second Quarter Conundrum - The Week Ahead
01 Apr 2022
Contributed by Lukas
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 submit...
Closing Out the First Quarter - The Week Ahead
25 Mar 2022
Contributed by Lukas
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 submi...
Spring Breakout? - The Week Ahead
18 Mar 2022
Contributed by Lukas
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 submi...
Reactions to the March 2022 FOMC - High Quality Credit Spreads
16 Mar 2022
Contributed by Lukas
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...
Liftoff Imminent - The Week Ahead
11 Mar 2022
Contributed by Lukas
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 submi...
Funding Fracas - High Quality Credit Spreads
09 Mar 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss recent strains in unsecured funding markets including the reasons for elevated funding costs and how they are likel...
Bonds in the Time of War - The Week Ahead
04 Mar 2022
Contributed by Lukas
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 submit...
Trading Through Heightened Geopolitical Risks - Monthly Roundtable
25 Feb 2022
Contributed by Lukas
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 th...
Geopolitical Containment - The Week Ahead
25 Feb 2022
Contributed by Lukas
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 su...
Are We There Yet? - High Quality Credit Spreads
23 Feb 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent widening in credit spreads including when, and at what level, spreads are likely to find stability. Othe...
Flight of the Hawks - The Week Ahead
18 Feb 2022
Contributed by Lukas
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 su...
All About QT - High Quality Credit Spreads
16 Feb 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss their estimates around balance sheet normalization including the terminal size of the Fed’s balance sheet and whe...
Don't Jimmy Me, Jimmy - The Week Ahead
11 Feb 2022
Contributed by Lukas
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 su...
Snow Drift - High Quality Credit Spreads
09 Feb 2022
Contributed by Lukas
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. O...
Forecasting Error - The Week Ahead
04 Feb 2022
Contributed by Lukas
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 sub...
The Great U-Turn - Monthly Roundtable
01 Feb 2022
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Belton and Ben Jeffery from BMO CM’s FICC Macro Strategy debat...
All Fed, No Fade - The Week Ahead
28 Jan 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 31st, 2022, and respond to questions sub...
Reactions to the January 2022 FOMC - High Quality Credit Spreads
26 Jan 2022
Contributed by Lukas
Dan Krieter and Dan Belton give their takeaways from the January Fed meeting. Topics include the Fed’s guidance on balance sheet normalization, the ...
Trading By Committee - The Week Ahead
21 Jan 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 24th, 2022, and respond to questions sub...
Time's Up? - High Quality Credit Spreads
19 Jan 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss their changing view on credit amidst a rapidly shifting market landscape. Other topics include: January primary ma...
New Year, New Fed - The Week Ahead
14 Jan 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 18th, 2022, and respond to questions sub...
Timing is Everything - High Quality Credit Spreads
12 Jan 2022
Contributed by Lukas
Dan Krieter and Dan Belton discuss their outlook for credit spreads in the medium-term including the major headwinds and tailwinds facing the market i...
Polar Bear - The Week Ahead
07 Jan 2022
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 10th, 2022, and respond to questions sub...
Delay Replay - Monthly Roundtable
04 Jan 2022
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO CM’s FICC Macro S...
2022 and Beyond - The Week Ahead
22 Dec 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 27th, 2021, and respond to questions su...
Low Light, Low Liquidity - The Week Ahead
17 Dec 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 20th, 2021, and respond to questions su...
Reactions to the December 2021 FOMC - High Quality Credit Spreads
15 Dec 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss their takeaways to this afternoon’s FOMC statement, economic projections, and press conference. Topics include wh...
Just Like 10-Year Yields - The Week Ahead
10 Dec 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 13th, 2021, and respond to questions su...
2022 Outlook: New Year, Another New Normal? - Monthly Roundtable
07 Dec 2021
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton and Ben Jeffery from BMO’s FICC Macro Stra...
Accelerate Debate - The Week Ahead
03 Dec 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 6th, 2021, and respond to questions sub...
Variant Volatility - High Quality Credit Spreads
01 Dec 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent move in credit spreads on the back of the Omicron variant and the hawkish turn by Fed Chair Powell. They...
Thanksgiving Special - The Week Ahead
24 Nov 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 29th, 2021, and respond to questions su...
Holiday Sales - High Quality Credit Spreads
23 Nov 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss the outlook for spreads into yearend from the standpoint of technicals, fundamentals, and the macro picture, each o...
Treasuries and Tryptophan - The Week Ahead
19 Nov 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 22nd, 2021, and respond to questions su...
Focused on Flattening - The Week Ahead
12 Nov 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 15th, 2021, and respond to questions su...
Pull Up a Chair - High Quality Credit Spreads
10 Nov 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss likely changes in the composition at the Fed including the likely next Chair and Vice Chair for Supervision. They a...
Short Week, Good Week - The Week Ahead
05 Nov 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 8th, 2021, and respond to questions sub...
Hut Hut Hike - Monthly Roundtable
03 Nov 2021
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from our FICC Macro Strategy bring you t...
A Squared Dozen - The Week Ahead
29 Oct 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 1st, 2021, and respond to questions sub...
The Only Game in Town - High Quality Credit Spreads
27 Oct 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss seemingly the only factor driving credit markets: inflation. They also debate how their inflation outlook will impa...
Squid Bonds - The Week Ahead
22 Oct 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 25th, 2021, and respond to questions sub...
SOFR Swoon - High Quality Credit Spreads
20 Oct 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss the unexpected dip in the overnight SOFR rate including its drivers and implications for investors. Other topics in...
Ranging Bull - The Week Ahead
15 Oct 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 18th, 2021, and respond to questions sub...
New Year, New Range? - High Quality Credit Spreads
13 Oct 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss four factors likely to bring a new, wider range in credit spreads in 2022 including inflation/growth concerns, mone...
Q-Fouria - The Week Ahead
08 Oct 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 12th, 2021, and respond to questions sub...
Jay Powell and the Inflation Jitters - Monthly Roundtable
05 Oct 2021
Contributed by Lukas
Margaret Kerins along with with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton and Ben Jeffery from our FICC Macro Str...
End of the Quarter As We Know It - The Week Ahead
30 Sep 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 4th, 2021, and respond to questions subm...
Making the Case: Q4 2021
29 Sep 2021
Contributed by Lukas
Dan Krieter and Dan Belton debate the case for credit spreads moving wider or narrower and the factors most likely to impact credit in the near- and m...
Doveless in Washington - The Week Ahead
24 Sep 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 27th, 2021, and respond to questions s...
Reactions to the September 2021 FOMC - High Quality Credit Spreads
22 Sep 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss their main takeaways from the September FOMC meeting, including guidance from the Fed that a taper announcement is ...
Fall's First Fed - The Week Ahead
17 Sep 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 20th, 2021, and respond to questions s...
As Good As It Gets? - High Quality Credit Spreads
15 Sep 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss the recent onslaught in high grade corporate supply and what to expect for issuance the rest of September. They the...
The Fall Stumble - The Week Ahead
09 Sep 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 13th, 2021, and respond to questions s...
Between a Taper and a Hike Pace - Monthly Roundtable
07 Sep 2021
Contributed by Lukas
Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Ben Reitzes, Dan Belton and Ben Jeffery from BMO CM's FICC Macro Strategy team di...
Sirens of September - The Week Ahead
03 Sep 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of September 7th, 2021, and respond to questions su...
Sizing September Supply - High Quality Credit Spreads
01 Sep 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss what to expect with respect to the coming wave of issuance following the long weekend and how the market will absor...
Return to the Home Office - The Week Ahead
27 Aug 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 30th, 2021, and respond to questions subm...
The Calm Before the Storm - High Quality Credit Spreads
25 Aug 2021
Contributed by Lukas
Dan Krieter and Dan Belton discuss credit spreads in the current directionless markets ahead of this week’s much awaited Jackson Hole Symposium. Oth...
Delta Doldrums - The Week Ahead
20 Aug 2021
Contributed by Lukas
Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of August 23rd, 2021, and respond to questions subm...