Macro Horizons

Seeing in 3-D - High Quality Credit Spreads

18 Aug 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss their outlook for credit spreads through three distinct factors: technicals, fundamentals, and the macro landscape....

Out of Office Day - The Week Ahead

13 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 16th, 2021, and respond to questions subm...

Great Jobs! - The Week Ahead

06 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 9th, 2021, and respond to questions submi...

Uncharted Transitory - Monthly Roundtable

03 Aug 2021

Contributed by Lukas

Margaret Kerins along with Ian Lyngen, Greg Anderson, Dan Krieter and Ben Jeffery from BMO’s FICC Macro Strategy team bring you their debate on the...

August Again - The Week Ahead

30 Jul 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 2nd, 2021, and respond to questions submi...

Checking the Taper - The Week Ahead

23 Jul 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 26h, 2021, and respond to questions submitt...

Is This It? - High Quality Credit Spreads

21 Jul 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the ramifications of the recent bout of Treasury market volatility including the modest widening in credit spreads ...

Into the Summer Dome - The Week Ahead

16 Jul 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 19th, 2021, and respond to questions submit...

Para-Para-Paradigm - Monthly Roundtable

13 Jul 2021

Contributed by Lukas

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Ben Reitzes, Dan Belton and Ben Jeffery from BMO Capital Market’s FICC Macro St...

The Drive to 125 - The Week Ahead

09 Jul 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 12th, 2021, and respond to questions submit...

Flight to Ambiguity - High Quality Credit Spreads

07 Jul 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the recent rally in Treasury yields and what it means for credit spreads. Other topics include the implications for...

Dash to the Doldrums - The Week Ahead

02 Jul 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of July 6th, 2021, and respond to questions submitt...

Q3 Outlook - High Quality Credit Spreads

30 Jun 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the likely path of credit spreads in Q3 including the supply and demand factors that will drive credit markets incl...

Halftime Show - The Week Ahead

25 Jun 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 28th, 2021, and respond to questions submit...

Attitude Adjustments - High Quality Credit Spreads

23 Jun 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss three major adjustments impacting their markets in recent weeks. First, the Fed’s changing outlook on inflation i...

Bullish Inflection - The Week Ahead

18 Jun 2021

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, 2021, and respond to questions submit...

Reactions to the June FOMC - High Quality Credit Spreads

16 Jun 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss their takeaways from the June FOMC which featured a more hawkish outlook from the Summary of Economic Projections, ...

By Any Other Name - The Week Ahead

11 Jun 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 14th, 2021, and respond to questions submit...

Tipping the Scales - High Quality Credit Spreads

09 Jun 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the factors most likely to break spreads from current ranges including relative value, the Fed’s plan to sell SMC...

Participation Trophy - The Week Ahead

04 Jun 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 7th, 2021, and respond to questions submitt...

The Cash Trap - Monthly Roundtable

01 Jun 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...

A June to Remember - The Week Ahead

28 May 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of June 1st, 2021, and respond to questions submitt...

Out of the (Home) Office - The Week Ahead

21 May 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 24th, 2021, and respond to questions submitt...

Open to Interpretation - High Quality Credit Spreads

19 May 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the recent resilience in credit spreads despite volatility in other asset classes. They offer two competing interp...

'Tis the Seasonals - The Week Ahead

14 May 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 17th, 2021, and respond to questions submitt...

Muddied Waters Run Deep - Monthly Roundtable

11 May 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 Strate...

Mayday (!) - The Week Ahead

07 May 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 10th, 2021, and respond to questions submitt...

Talking About Talking About Tapering - High Quality Credit Spreads

05 May 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the impact of the Fed’s eventual tapering announcement on spread markets. Topics include the potential for a seve...

Returning to Work - The Week Ahead

30 Apr 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of May 3rd, 2021, and respond to questions submitte...

Reactions to the April FOMC - High Quality Credit Spreads

28 Apr 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss their takeaways from the April FOMC meeting and press conference which largely centered around the Fed’s dual man...

Rebound Referendum - The Week Ahead

23 Apr 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 26th, 2021, and respond to questions submi...

Winds of Change - High Quality Credit Spreads

21 Apr 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss recent developments regarding three pivotal areas of change in fixed income and how they impact spreads markets, in...

Spring Inflection - The Week Ahead

16 Apr 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 19th, 2021, and respond to questions submi...

Q2 Spread Outlook - High Quality Credit Spreads

15 Apr 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the various factors set to drive the path of credit spreads in Q2, including their outlook for market technicals an...

March's Mulligan - The Week Ahead

09 Apr 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 12th, 2021, and respond to questions submi...

Hotel QE Forever - Monthly Roundtable

06 Apr 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...

Green Shoots and April Showers - The Week Ahead

02 Apr 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of April 5th, 2021, and respond to questions submit...

Making the Case: Q2 21 - High Quality Credit Spreads

31 Mar 2021

Contributed by Lukas

Dan Krieter and Dan Belton debate whether spreads are more likely to widen or narrow in Q2 from current ranges based on the fundamental and technical ...

#ShipStillStuck - The Week Ahead

26 Mar 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of March 29th, 2021, and respond to questions submi...

SOFR: What’s Next? - High Quality Credit Spreads

24 Mar 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss their two preferred trade ideas in the current range-bound environment for credit spreads before turning to recent ...

The Other Side of 1.75% - The Week Ahead

19 Mar 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of March 22nd, 2021, and respond to questions submi...

Reactions to the March FOMC - High Quality Credit Spreads

17 Mar 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss their takeaways from the Fed meeting, and what it might means for the path of credit and swap spreads.

A Quarter to Remember - The Week Ahead

12 Mar 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of March 15th, 2021, and respond to questions submi...

Pain and SLR-ow - High Quality Credit Spreads

10 Mar 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the recent widening in credit spreads and a change in their view on the near term path for spreads. Finally, they ...

Same As it Never Was - The Week Ahead

05 Mar 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of March 8th, 2021, and respond to questions submit...

Wake Me Up When September Comes - Monthly Roundtable

02 Mar 2021

Contributed by Lukas

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, and Dan Belton from BMO’s FICC Macro Strategy team d...

Bond Ides of March - The Week Ahead

26 Feb 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of March 1st, 2021, and respond to questions submit...

Riding on Perseverance - The Week Ahead

19 Feb 2021

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, 2021, and respond to questions su...

My Punny Valentine - The Week Ahead

12 Feb 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of February 15th, 2021, and respond to questions su...

Technical Support - High Quality Credit Spreads

10 Feb 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss credit spreads now trading on top of multiyear lows and if the rally in credit is running out of gas. Finally, the...

Ready for the Weeknd - The Week Ahead

05 Feb 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of February 8th, 2021, and respond to questions sub...

Taking Issue(ance) - Monthly Roundtable

02 Feb 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...

One Down, Eleven to Go - The Week Ahead

29 Jan 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of February 1st, 2021, and respond to questions sub...

Reactions to the January FOMC - High Quality Credit Spreads

27 Jan 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss their takeaways from the January FOMC statement and press conference and its implications for credit spreads. Then ...

Recovery Reckoning - The Week Ahead

22 Jan 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 25th, 2021, and respond to questions sub...

Back to the Grind - High Quality Credit Spreads

20 Jan 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the recent performance of credit and swap spreads following the Georgia Elections including what it means for their...

Peaked Early? - The Week Ahead

15 Jan 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 19th, 2021, and respond to questions sub...

The Great Reflation Debate - Monthly Roundtable

12 Jan 2021

Contributed by Lukas

Margaret Kerins with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton and Ben Jeffery from our FICC Macro Strategy team ...

New Year, New Problems - The Week Ahead

08 Jan 2021

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of January 11th, 2021, and respond to questions sub...

Riding the Blue Wave - High Quality Credit Spreads

06 Jan 2021

Contributed by Lukas

Dan Krieter and Dan Belton discuss the recent performance of credit and swap spreads following the Georgia Elections including what it means for their...

Making the Turn - The Week Ahead

23 Dec 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market through the end of 2020, and respond to questions submitted by listeners ...

Who Would Have Thought? - The Week Ahead

18 Dec 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 21st, 2020, and respond to questions su...

Reactions to the December FOMC - High Quality Credit Spreads

17 Dec 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss their takeaways from today’s Fed meeting, including the impact of guidance on Fed purchases and the market respon...

One More to Go - The Week Ahead

11 Dec 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 14th, 2020, and respond to questions su...

2021 High Grade Credit Outlook - High Quality Credit Spreads

09 Dec 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss their expectations for the path of credit spreads in 2021. Then they conclude with a discussion on recent Libor tr...

The Bad News Bid - The Week Ahead

04 Dec 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of December 7th, 2020, and respond to questions sub...

2021 Outlook: Lower, Narrower, Safer - Monthly Roundtable

01 Dec 2020

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...

Pardon Us - The Week Ahead

25 Nov 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 30th, 2020, and respond to questions su...

The COVID That Stole Thanksgiving - The Week Ahead

20 Nov 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 23rd, 2020, and respond to questions su...

Spread Immunity - High Quality Credit Spreads

18 Nov 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss the spread market reaction to recent vaccine headlines, as well as their outlook for spreads in the near and long t...

Vague Clarity - The Week Ahead

13 Nov 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of November 16th, 2020, and respond to questions su...

What's Next - Monthly Roundtable

10 Nov 2020

Contributed by Lukas

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, and Dan Belton from our FICC Macro Strategy team bring ...

Count on it - The Week Ahead

06 Nov 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of November 9th, 2020, and respond to qu...

Hindsight is 2020 - High Quality Credit Spreads

04 Nov 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss the likely results of the Presidential election and the implications of a Biden Presidency with a Republican Senate...

Spending Daylight - The Week Ahead

30 Oct 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of November 2nd, 2020, and respond to qu...

Trick or Treat - High Quality Credit Spreads

28 Oct 2020

Contributed by Lukas

Dan Krieter and Dan Belton give their thoughts on why credit spreads have not reacted to broader market weakness over the past several weeks, and whet...

2020: A Record Year - The Week Ahead

23 Oct 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 26th, 2020, and respond to questions sub...

Eyes of the Bond-holder - The Week Ahead

16 Oct 2020

Contributed by Lukas

Ian Lyngen and Ben Jeffery bring you their thoughts on the U.S. Rates market for the upcoming week of October 19th, 2020, and respond to questions sub...

Running Bases - High Quality Credit Spreads

14 Oct 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss the drivers behind the recent credit spread narrowing and whether it can be sustained in the weeks ahead. Finally,...

House of Bonds - The Week Ahead

09 Oct 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of October 13th, 2020, and respond to qu...

2021 Pace Odyssey - Monthly Roundtable

06 Oct 2020

Contributed by Lukas

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Jon Hill, and Ben Jeffery from our FICC Macro Strategy ...

Fourth Quarter Drive - The Week Ahead

02 Oct 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of October 5th, 2020, and respond to que...

Range-Bound No More - High Quality Credit Spreads

30 Sep 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss the drivers behind both credit and swap spreads breaking out of multi-month channels during the past week, as well ...

Running Out the Clock - The Week Ahead

25 Sep 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 28th, 2020, and respond to ...

Pondering the Presidency - High Quality Credit Spreads

23 Sep 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss the 2020 Presidential election now less than six weeks away, and what it means for the near term direction of credi...

Aye Aye - The Week Ahead

18 Sep 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 21st, 2020, and respond to ...

Reactions to the September FOMC - High Quality Credit Spreads

16 Sep 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss their takeaways from today’s surprising Fed meeting, as well as what tools remain available to the Fed and the ef...

Powell Play - The Week Ahead

11 Sep 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 14th, 2020, and respond to ...

Making the Case - High Quality Credit Spreads

09 Sep 2020

Contributed by Lukas

Dan Krieter and Dan Belton make the case for wider and narrower credit spreads into year-end focused on four key factors: virus transmission and poten...

Autumn is Coming - The Week Ahead

04 Sep 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of September 8th, 2020, and respond to q...

Falling into Place: A Coronacession Election - Monthly Roundtable

01 Sep 2020

Contributed by Lukas

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Jon Hill, and Ben Jeffery from our FICC Macro Strategy ...

Meet the New Fed - The Week Ahead

28 Aug 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 31st, 2020, and respond to que...

Technically Speaking - High Quality Credit Spreads

26 Aug 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss why deteriorating technicals may present a buying opportunity for spread market participants in September/October.

Jackson Hole-in-One - The Week Ahead

21 Aug 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 24th, 2020, and respond to que...

Night of the Living Debt - High Quality Credit Spreads

19 Aug 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss the likelihood of credit spreads widening modestly in the fall months, and why any widening should be viewed as a b...

Autumn Angst - The Week Ahead

14 Aug 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 17th, 2020, and respond to que...

Cessation Plan - High Quality Credit Spreads

12 Aug 2020

Contributed by Lukas

Dan Krieter and Dan Belton discuss some recent key developments in the Libor-SOFR transition, including: ISDA’s soon to be released protocol, Libor ...

Blindside is 2020 - The Week Ahead

07 Aug 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 10th, 2020, and respond to que...

Big Dollar Big Troubles? - Monthly Roundtable

04 Aug 2020

Contributed by Lukas

Margaret Kerins along with Ian Lyngen, Greg Anderson, Stephen Gallo, Dan Krieter, Ben Reitzes, Dan Belton, Jon Hill, and Ben Jeffery from our FICC Mac...

Cardboard Crowds - The Week Ahead

31 Jul 2020

Contributed by Lukas

Ian Lyngen, Ben Jeffery, and Jon Hill bring you their thoughts on the U.S. Rates market for the upcoming week of August 3rd, 2020, and respond to ques...