In this episode, Steve Englander, Global Head of G10 FX Strategy and North American Macro Strategy at Standard Chartered Bank, discusses the evolving US macro landscape heading into Q4. He examines the Fed's recent rate cut, the implications of rising productivity on the neutral rate, and the early impact of AI on the labour market. Steve shares his views on US dollar positioning, potential challenges to Fed independence, and downside risks to Canadian growth and currency performance. He also addresses the durability of the current carry trade environment and the broader implications of policy-driven market volatility.

This episode was recorded on September 30, 2025.

In this episode, Tim Jones, Lead Policy Analyst at Medley Advisors, discusses the European Central Bank's rate outlook against a backdrop of shifting macro conditions and rising downside risks. He explores how currency moves and commodity prices could fuel disinflation, the fragility of services inflation, and what might trigger further policy easing. Tim also examines the EU's widening fiscal and political cracks within the EU, growing fiscal divergence between Germany and France, and the potential impacts of transatlantic relations with the US. Tim concludes with insights on European bond issuance and the structural shifts investors should watch for in the quarters ahead.

This episode was recorded on August 13, 2025.

In this episode, Durham Abric, Head of US Inflation at Citadel Securities, shares his outlook on US inflation for the second half of 2025, the market's perception of inflation trends, and why tariff-related volatility has yet to be fully reflected in CPI numbers. He examines the Fed's current policy stance, the risks of policy missteps, and how housing market trends and immigration could influence inflation dynamics. Durham also highlights several factors that are shaping client sentiment and explains why long-duration TIPS may be undervalued in client portfolios.

This episode was recorded on June 25, 2025.