2023 Outlook - Monthly Roundtable
2023 Outlook - Monthly Roundtable
Managing Director, Head of U.S. Rates Strategy
Ian is a Managing Director and Head of U.S. Rates Strategy in the BMO Capital Markets Fixed Income Strategy team. His primary focus is the U.S. Treasury market with…
Managing Director, Canadian Rates & Macro Strategist
Benjamin has been with the Bank of Montreal for over a decade. He is responsible for the Canadian macro-economic forecast, and plays a key role in forecasting inter…
European Head of FX Strategy
Stephen is European Head of FX strategy for BMO Capital Markets based in London. He caters to corporate and real money clients including asset managers, central ban…
Director, Fixed Income Strategy
Dan Krieter is a Director in the BMO Capital Markets Fixed Income Strategy Group. His primary focus is the high quality USD spread market, including interest rate d…
Ian is a Managing Director and Head of U.S. Rates Strategy in the BMO Capital Markets Fixed Income Strategy team. His primary focus is the U.S. Treasury market with…
VIEW FULL PROFILEBenjamin has been with the Bank of Montreal for over a decade. He is responsible for the Canadian macro-economic forecast, and plays a key role in forecasting inter…
VIEW FULL PROFILEStephen is European Head of FX strategy for BMO Capital Markets based in London. He caters to corporate and real money clients including asset managers, central ban…
VIEW FULL PROFILEDan Krieter is a Director in the BMO Capital Markets Fixed Income Strategy Group. His primary focus is the high quality USD spread market, including interest rate d…
VIEW FULL PROFILE
Ben Jeffery is a Strategist on the U.S. Rates Strategy Team at BMO Capital Markets. He focuses on fixed income investment strategy, specifically on interest ra…
VIEW FULL PROFILE-
Minute Read
-
Listen
Stop
-
Text Bigger | Text Smaller
Margaret Kerins along with Ian Lyngen, Ben Reitzes, Greg Anderson, Stephen Gallo, Dan Krieter, Dan Belton and Ben Jeffery from BMO Capital Markets’ FICC Macro Strategy team bring their outlook for US and Canadian Rates, IG credit, and foreign exchange 2023 as the Fed remains committed to containing inflation and the prior rate hikes begin to transmit into the economy. As the fed funds rate continues to move higher, the curve inversion in 2s10s should deepen and persist until the market begins to price a slowing economy and decelerating inflation. At this point, 2s10s should begin to bull steepen and the timing of this will be one of the main narratives in US rates. Another main theme will be the pricing of the Fed’s reaction function to an economic downturn, which the team expects to be much slower than in the past and how this impacts credit spreads and foreign exchange. The discussion includes a rapid fire outlook at the beginning of the discussion.
Follow us on Apple Podcasts, Google Podcasts, Stitcher and Spotify or your preferred podcast provider.
About Macro Horizons
BMO's Fixed Income, Currencies, and Commodities (FICC) Macro Strategy group and other special guests provide weekly and monthly updates on the FICC markets through three Macro Horizons channels; US Rates - The Week Ahead, Monthly Roundtable and High Quality Credit Spreads.