The Download with David Richardson
Episodes
Running through the latest in labour markets
04 Aug 2023
Contributed by Lukas
This episode, Chief Economist Eric Lascelles breaks down the latest Canadian and U.S. jobs market numbers and what they indicate for the broader econo...
Canada’s energy transition: headwind or opportunity?
01 Aug 2023
Contributed by Lukas
Will Canada’s energy transition help or hurt its economy and stock market? This episode, Scott Lysakowski, Vice President & Senior Portfolio...
Weighing market sentiment and balancing risk and reward
27 Jul 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses the challenges of balancing risk and reward for long-term investors in the sh...
What’s going on in bonds?
21 Jul 2023
Contributed by Lukas
This episode, Dagmara Fijalkowski, Head of Global Fixed Income & Currencies, provides an update on bond markets, shares her outlook for inflation ...
Optimizing market opportunities: Embracing long-term success with dollar cost averaging
20 Jul 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, catches us up on how markets have been performing so far this summer. Stu also shines a...
Jobs report: labour market softens, but not yet weak
10 Jul 2023
Contributed by Lukas
Canada’s unemployment rate rose in June, despite a significant increase in the number of jobs. What impact will this mixed data have on the Bank...
How are shifting narratives around ESG impacting investors?
30 Jun 2023
Contributed by Lukas
This episode, Melanie Adams, Vice President and Head, Responsible Investment, discusses the latest news and trends in the ESG space, including a highe...
Balance sheets 101
28 Jun 2023
Contributed by Lukas
This episode is all about balance sheets. Stu Kedwell, Co-Head of North American Equities, gives a detailed breakdown of how businesses can structure ...
A.I. and machine learning: what they mean for the future of tech stocks
23 Jun 2023
Contributed by Lukas
This episode, Dave catches up with Marcello Montanari, Vice President & Senior Portfolio Manager, North American Equities, for an overview of the ...
Navigating optimism and near-term challenges in the broader market
21 Jun 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, provides some soundbites he shared with advisors during a recent conference. Stu explai...
Keeping your focus intact during market uncertainty
14 Jun 2023
Contributed by Lukas
This episode, Sarah Riopelle, Vice President & Senior Portfolio Manager, Investment Solutions, discusses how she is thinking through near-term cha...
Sharing nuggets about rallies and inflation
13 Jun 2023
Contributed by Lukas
After sharing recent sports updates, Dave and Stu Kedwell, Co-Head of North American Equities, discuss chasing rallies in the market. Later, Stu revea...
Determining market strength amid mixed signals
07 Jun 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, unpacks the mixed signals markets have been sending recently. Stu also explains how ana...
The evolution of private markets
05 Jun 2023
Contributed by Lukas
This episode, Michael Kitt, Head, Private Markets and Real Estate Equity Investments, provides an overview of private markets, and shares how investor...
The outlook on U.S. fixed income markets
02 Jun 2023
Contributed by Lukas
This episode, Andrzej Skiba, Senior Portfolio Manager, Head of U.S. Fixed Income, RBC Global Asset Management Inc., provides an update on U.S. fixed ...
Resilient labour market continues to wait for recession signal
02 Jun 2023
Contributed by Lukas
The labour market is looking healthy, but anticipation for recession remains. This episode, Chief Economist Eric Lascelles, discusses the latest job m...
Tracking trends in the North American banking sector
24 May 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, shares some early observations on North American bank earnings so far. Stu also draws c...
How are Canadian equity markets holding up against a slowing economy?
24 May 2023
Contributed by Lukas
This episode, Scott Lysakowski, Vice President & Senior Portfolio Manager, Head of Canadian Equities, Phillips, Hager & North Investment Manag...
Turning a negative into a positive with a long-term view
09 May 2023
Contributed by Lukas
After sharing Italian travel stories, Stu Kedwell, Co-Head of North American Equities, discusses how his team is improving the odds of an overall port...
Lending conditions and bank liquidity in U.S. economy
09 May 2023
Contributed by Lukas
Chief Economist Eric Lascelles discusses lending conditions as an indicator for a recession before sharing insights around small and mid-sized U.S. ba...
Earnings season so far and the outlook ahead
26 Apr 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, provides his views on earnings season so far, the challenges companies may face in the ...
Bank earnings and the future of corporate real estate
18 Apr 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses U.S. bank earnings last quarter, and how banks and corporate real estate lend...
Dividend investing in a time of inflation and changing interest rates
12 Apr 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses the latest inflation report out of the U.S., what it means for the future of ...
How central banks can combat market turbulence
31 Mar 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, talks about some of the tools that central banks can use to help stabilize the market d...
Preparing a multi-asset portfolio amid heightened uncertainty
31 Mar 2023
Contributed by Lukas
This episode, Sarah Riopelle, Vice President & Senior Portfolio Manager, Investment Solutions, offers her perspective on the state of today’...
Economic update: Banking sector fallout, inflation stand-off and recession watch
31 Mar 2023
Contributed by Lukas
This episode, Chief Economist Eric Lascelles recaps the recent fallout in the international banking sector, and if intervention by central banks could...
Markets react to Credit Suisse takeover
20 Mar 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses how markets and central banks around the world are responding to the Credit S...
Silicon Valley Bank collapse: What happened and why it matters
13 Mar 2023
Contributed by Lukas
What caused the implosion of Silicon Valley Bank? What’s at stake for markets, businesses, and investors? This episode, Stu Kedwell, Co-Head of ...
When markets shift, don’t rewrite the script
07 Mar 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses his views on the current market landscape and how investors can navigate this...
Canadian bank earnings and the outlook for interest rates
01 Mar 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, dives into the earnings results from Canadian banks, what they reflect for the broader ...
U.S. economy continues to defy the odds – will Canada follow?
24 Feb 2023
Contributed by Lukas
This episode, Chief Economist Eric Lascelles discusses the latest economic data from the U.S., focusing on how strong labour market and consumer spend...
Positioning for the long term with dollar-cost averaging
23 Feb 2023
Contributed by Lukas
Market sentiment has been largely focused on two questions: how fast will inflation decline from here, and how will earnings hold up in a slowing econ...
Building a dollar-cost averaging strategy in unpredictable markets
16 Feb 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses how to make sense of current market conditions, and why a dollar-cost averagi...
A look at commodities and the Canadian market
08 Feb 2023
Contributed by Lukas
This episode, Scott Lysakowski, Vice President & Senior Portfolio Manager, Head of Canadian Equities, Phillips, Hager & North Investment Manag...
Markets react after strong U.S. jobs report
06 Feb 2023
Contributed by Lukas
January’s U.S. jobs report soared above expectations, with the lowest unemployment rate in over 50 years. Yet, stocks fell last Friday in respon...
U.S. jobs report: Labour market holds steady despite recession risk
03 Feb 2023
Contributed by Lukas
This episode, Chief Economist Eric Lascelles discusses why the U.S. job market is still so strong, despite recession warning signs elsewhere in the ec...
Talking about the tech market and technical analysis
31 Jan 2023
Contributed by Lukas
After a rough year, technology stocks are having a solid start to 2023. Are brighter days ahead for the sector? Or is the tech bubble on the verge of ...
What will the crypto market look like in 2023?
30 Jan 2023
Contributed by Lukas
Cryptocurrencies have enjoyed a great start to the year. What’s causing this rally? Can it last? This episode, Karim Hamasni, Director, Crypto A...
Pricing in different market scenarios
17 Jan 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, provides a brief overview of scenario analysis to explain how he anticipates companies ...
The value of active management: What’s next for 2023
16 Jan 2023
Contributed by Lukas
This episode, Sarah Riopelle, Vice President & Senior Portfolio Manager, Investment Solutions, discusses how she is managing portfolios – pa...
Where is the economy headed in 2023?
13 Jan 2023
Contributed by Lukas
This episode, Chief Economist Eric Lascelles weighs in on the mixed macroeconomic outlook for the year ahead. Eric discusses the latest employment dat...
North American equities: Looking back and looking ahead
10 Jan 2023
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, reflects on the last few weeks of market headlines in 2022. Stu also shares what he is ...
How are markets reacting to turning inflation?
13 Dec 2022
Contributed by Lukas
Core inflation in the U.S. continues to turn lower. How are markets responding? This episode, Stu Kedwell, Co-Head of North American Equities, discuss...
What’s behind the oil slowdown?
09 Dec 2022
Contributed by Lukas
The stability of energy stocks, and the recent decline in oil prices has made for an interesting trend in the sector. This episode, Scott Lysakowski, ...
Checking in on Canadian banks
06 Dec 2022
Contributed by Lukas
This episode, Stu Kedwell, Head of North American Equities, takes a look at year-end earnings from Canadian banks, and what these results could signal...
Labour market resilience amid looming recession
02 Dec 2022
Contributed by Lukas
Despite signs of weakness elsewhere in the economy, job numbers have been quite resilient over the last few months. How long can the labour market hol...
Market news: Fed slows hikes, earnings, and recession watch
30 Nov 2022
Contributed by Lukas
What does a potentially slower pace of rate hikes mean for markets? This episode, Stu Kedwell, Co-Head of North American Equities, unpacks the latest ...
Aligning portfolio management in a softening economy
28 Nov 2022
Contributed by Lukas
This episode, Sarah Riopelle, Vice President & Senior Portfolio Manager, Investment Solutions, discusses the current investment environment, and w...
Calculating the hidden opportunities in fixed income
22 Nov 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, dives into the math behind the saying “buy fear, sell cheer,” and analyzes ...
Putting money to work during down markets
16 Nov 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses the age-old concept of “buying low and selling high”, and its pot...
What does FTX's collapse mean for crypto?
16 Nov 2022
Contributed by Lukas
This episode, Karim Hamasni, Director, Crypto Asset Innovation, discusses the rise and sudden fall of Futures Exchange , once one of the largest crypt...
Is The Fed shifting gears?
11 Nov 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-head of North American Equities, looks at the mixed messages following the U.S. Federal Reserve’s latest interest ...
Mixed reactions to a resilient labour market
07 Nov 2022
Contributed by Lukas
Labour markets in Canada and the U.S. continued on a hot streak in October, according to the latest job reports. Generally, that’s good news for...
Interpreting the latest stock and bond market moves
25 Oct 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, talks about the latest moves in equity markets, the downward trend in bonds, and why ti...
The outlook for the Canadian equity and housing markets
21 Oct 2022
Contributed by Lukas
This episode, Scott Lysakowski, Vice President & Senior Portfolio Manager, Head of Canadian Equities, Phillips, Hager & North Investment Manag...
A conversation about cryptocurrencies
21 Oct 2022
Contributed by Lukas
This episode, Scott Lysakowski, Vice President & Senior Portfolio Manager, Head of Canadian Equities, Phillips, Hager & North Investment Manag...
Have markets found their footing again?
18 Oct 2022
Contributed by Lukas
Equity markets are enjoying a bounce-back recently, following a rough couple of weeks. The big question for investors is: will the rally continue? Thi...
The nature of real estate investing
12 Oct 2022
Contributed by Lukas
In this episode, Stu Kedwell, Co-Head of North American Equities, joins Dave to discuss the importance of maintaining a long-term perspective when it ...
Inflation report recap: Consumer prices outpace expectations
12 Oct 2022
Contributed by Lukas
U.S. inflation data for September is here and points to still-too-high consumer prices. Yet, broader inflation expectations appear to be easing. What ...
Analyzing Canadian and U.S. jobs numbers
07 Oct 2022
Contributed by Lukas
Chief Economist Eric Lascelles makes sense of the latest jobs reports from the U.S. and Canada, and what they signal for the broader economic picture....
Market bottom: are we there yet?
04 Oct 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, joins Dave to discuss tell-tale signs that markets have reached their bottom, and where...
A focus on the Fed’s latest decision
21 Sep 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, joins Dave to discuss the market reaction after the Federal Reserve raised interest rat...
Shedding the last few (inflationary) pounds
14 Sep 2022
Contributed by Lukas
Stock markets fell last Tuesday, following the latest U.S. inflation reports. Despite signs that the main drivers of inflation have finally turned, se...
Economic update: Inflation has peaked, U.S. labour market resilience, hawkish central banks
09 Sep 2022
Contributed by Lukas
This episode, Chief Economist Eric Lascelles takes a look at what’s on his economic radar this week. Eric starts with the latest jobs reports ou...
Market news: Canadian bank earnings & The Fed’s tough talk on inflation
31 Aug 2022
Contributed by Lukas
Last week, markets tumbled following the U.S. Federal Reserve’s warning that ‘some pain’ can be expected in its fight against inflat...
When will market risks catch up to corporate earnings?
25 Aug 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses why we’ve yet to see a significant drop in companies’ earnings, d...
What’s ahead for European equities?
24 Aug 2022
Contributed by Lukas
What is the outlook for the European market, as the war in Ukraine rages on? How will rising interest rates impact these assets? This episode, David L...
Reviewing the rally: Earnings expectations versus recent report
12 Aug 2022
Contributed by Lukas
Investors had anticipated weak second-quarter earnings amid slowing economic growth and ongoing monetary tightening. But results were better than expe...
How earnings season is shaping up so far
03 Aug 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, provides some takeaways for investors as second-quarter earnings season rolls on. Stu a...
What happens when The Fed shrinks its balance sheet?
04 Jul 2022
Contributed by Lukas
Stock markets fell on Tuesday, following the U.S. Federal Reserve’s announcement that it plans to rapidly reduce its balance sheet -- its latest...
Shifting to neutral in turbulent markets
23 Jun 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses how he balances risk and reward within the different funds he manages during ...
How do markets respond to the challenges of managing inflation?
16 Jun 2022
Contributed by Lukas
Inflation expectations are one of the most important drivers of long-term interest rates and financial markets. This episode, Stu Kedwell, Co-Head of ...
Economic update: Inflation continues to soar
10 Jun 2022
Contributed by Lukas
According to the latest U.S. inflation report, consumer prices rose 8.6% in May. The reading came in higher than what most expected, and is another in...
Markets seek out signs of peaking inflation
08 Jun 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, shares his thoughts on the state of markets today. First, how factors such as consumer ...
How to manage a volatile stock market
17 May 2022
Contributed by Lukas
Emotions are running high for investors as uncertainty ripples through markets. How can investors push aside the panic and maintain their focus? This ...
Economic update: Fed rate raise, mixed jobs data, recession risk mounts
09 May 2022
Contributed by Lukas
In this episode, Chief Economist Eric Lascelles discusses the Fed’s latest interest rate hike, and what the central bank’s intentions for ...
What does the Fed’s rate hike mean for markets?
03 May 2022
Contributed by Lukas
The U.S. Federal Reserve and other central banks have a tough task ahead: get inflation under control, while avoiding a recession. As uncertainty moun...
Revisiting the 10 basic truths about investing for uncertain times
02 May 2022
Contributed by Lukas
This episode, Sarah Riopelle, Vice President & Senior Portfolio Manager, Investment Solutions, discusses how she is managing portfolios against th...
Q1 2022 earnings season preview
14 Apr 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses the themes to watch for as companies report their first-quarter earnings. Stu...
Will the Canadian market continue its climb?
04 Apr 2022
Contributed by Lukas
Canada’s stock market is outperforming its counterparts so far this year. Why? Its heavy concentration of cyclical stocks -- like financials and...
The yield curve and recession risk: what to watch for
31 Mar 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, takes a look at the recent movements in the U.S. Treasury yield curve, and discusses wh...
A pragmatic approach to fund management
09 Mar 2022
Contributed by Lukas
In every investment process, there are key principles fund managers rely on to position portfolios for success. This episode, Stu Kedwell, Co-Head of ...
Economic update: Russia-Ukraine developments, rate hikes, U.S. recovery
07 Mar 2022
Contributed by Lukas
How will economic sanctions against Russia and scarce commodity supply impact the global recovery? In this episode, Chief Economist Eric Lascelles loo...
Investment strategies for when markets are volatile
06 Mar 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses how he is positioning portfolios for the long term, as inflation and geopolit...
Russia-Ukraine conflict: What does war-time volatility mean for investors?
24 Feb 2022
Contributed by Lukas
This episode, Sarah Riopelle, Vice President & Senior Portfolio Manager, discusses the potential long- and short-term impacts on global economies ...
Managing portfolios amidst geopolitical uncertainty
16 Feb 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, discusses the market response to ongoing geopolitical tensions, with a particular focus...
A focus on inflation and fixed income investments
15 Feb 2022
Contributed by Lukas
This episode, Dagmara Fijalkowski, Senior Vice President & Senior Portfolio Manager, Head of Global Fixed Income & Currencies, discusses her a...
Investing through inflation: past and present
11 Feb 2022
Contributed by Lukas
How does the inflationary backdrop of today compare to that of the 1970s? This episode, Habib Subjally, Senior Portfolio Manager & Head of Global ...
What’s driving the growth to value rotation?
11 Feb 2022
Contributed by Lukas
Understanding the current market rotation from growth to value stocks requires a deeper look into these two investing styles. While both seek to maxim...
Economic news: January job reports, central bank tightening, inflation expectations
07 Feb 2022
Contributed by Lukas
This episode, Chief Economist Eric Lascelles shares his insight on a variety of economic headlines, including the latest in labour markets as January&...
Let’s talk about technical analysis
03 Feb 2022
Contributed by Lukas
How do portfolio managers use technical analysis to evaluate investments and anticipate market movements? This episode, Stu Kedwell, Co-Head of North ...
Long-term investing in fluctuating markets
01 Feb 2022
Contributed by Lukas
From hawkish central banks, to spiking inflation and geopolitical pressures – markets have been pulled in many different directions recently, fu...
When markets are down, think long term
27 Jan 2022
Contributed by Lukas
The recent spike in volatility may have investors questioning whether to take their money out of the market and wait for better days. While market dow...
The technology sector in turbulent times
25 Jan 2022
Contributed by Lukas
Ongoing concerns around inflation and central bank rate hikes have resulted in a slow start to the year for technology sector. How long will the...
Market news: U.S. bank earnings, inflationary pressure, and tech sector troubles
21 Jan 2022
Contributed by Lukas
This episode, Stu Kedwell, Co-Head of North American Equities, covers the latest news in the financial sector. Earnings season is well underway in the...
Emerging markets: key themes for 2022
20 Jan 2022
Contributed by Lukas
China’s sharp economic slowdown weighed heavily on emerging markets last year. As the country navigates regulatory uncertainty and tighter...
Where are the dividend opportunities in the cyclical sector?
18 Jan 2022
Contributed by Lukas
In this episode, Stu Kedwell, Co-Head of North American Equities, discusses the outlook for dividend growth in cyclical companies, particularly in ene...
Canadian equities: 2022 at a glance
13 Jan 2022
Contributed by Lukas
Will the Canadian stock market maintain its streak of solid performance in 2022? This episode, Scott Lysakowski, Head of Canadian Equities at Phillips...
Forecasting the Federal Reserve
11 Jan 2022
Contributed by Lukas
A hawkish pivot from the U.S. Federal Reserve has mapped its way inonto markets and into the economy in many different ways. This episode, Chief Econo...
What to expect from markets in 2022
06 Jan 2022
Contributed by Lukas
Soaring inflation, rising interest rates, and a rapidly-spreading variant; As many of the key themes from 2021 cross over into the New Year, there are...