The Invested

Dustin Reid – Hotter Than Expected Inflation: Is It Here To Stay?

After a hotter than expected CPI print, are all bets off for an interest rate cut in June? On this episode, Matthew Schnurr and Dustin Reid, Chief Fixed Income Strategist at Mackenzie Investments, discuss market reactions to the recent inflation data in the US and how this could affect expectations for multiple interest rate cuts this year. Dustin also discusses the BoC’s decision to hold interest rates at 5% and why rates may begin to ease sooner rather than later.

This episode was recorded on April 11, 2024.

Arup Datta – Quantitative Equity Investing & New Mackenzie World Low Volatility Fund

On this episode, Arup Datta, Senior Vice President and Head of Mackenzie’s Global Quantitative Equity Team, discusses his team’s approach to quantitative equity investing and how machine learning is now incorporated into their process. Arup also discusses the recent launch of the Mackenzie World Low Volatility Fund and how it can complement the Mackenzie Global Equity Fund that his team also manages.

This episode was recorded on April 8, 2024.

Dustin Reid – Key Takeaways From the Fed’s March Meeting

As core inflation remains above the Fed’s 2% target, three interest rate cuts are still projected for this year, consistent with central bankers’ lower rate outlook. In this episode, Matthew Schnurr and Dustin Reid, Chief Fixed Income Strategist at Mackenzie Investments, discuss how the subtle changes in the Fed’s long-term outlook suggest a dovish stance, which could indicate that higher inflation rates may be more acceptable in the future. Dustin also explores the implications of the weaker-than-expected inflation numbers in Canada and how the BoC’s April meeting could set the stage for future policy actions. Finally, Dustin explains the BoJ’s historic interest rate hike, the first in 17 years, and the end of their yield curve control policy.

This episode was recorded on March 21, 2024.

Dustin Reid – Analyzing the US Election Campaign, BoC Decision, and Fed Outlook

As a potential rematch between President Joe Biden and former President Donald Trump becomes more and more likely, what implications could this have in the markets? In this episode, Matthew Schnurr and Dustin Reid, Chief Fixed Income Strategist at Mackenzie Investments, analyze various scenarios that could play out between now and election day in November. Dustin also discusses the most recent Bank of Canada decision and what we could expect in the upcoming Fed meeting later this month.

This episode was recorded on March 7, 2024.

Darren McKiernan – How We Build a “Dream Team” Portfolio

When it comes to portfolio construction, identifying companies with sustainable competitive advantages, or moats, can help drive long-term returns. On this episode, Darren McKiernan, Portfolio Manager and Head of Mackenzie Global Equity & Income Team, discusses the concept of the “Dream Team” and the six competitive advantages that guides his team’s investment decisions. Darren also highlights the significance of a company’s capital allocation decisions in relation to its competitive advantages and growth potential.

This episode was recorded on February 26, 2024.

Lesley Marks – Canadian Bank Earnings, US Consumer Resilience, and Chinese Equities

What do recent bank earnings mean for Canada’s economy? In this episode, Lesley Marks, Chief Investment Officer of Equities, discusses the latest market trends, the state of the Canadian and US consumer, and insights on Chinese equities. Lesley highlights Bitcoin’s recent momentum and its potential as a sentiment indicator for the broader market. Finally, Lesley provides a thoughtful outlook for 2024, emphasizing the continued resilience of the US economy, the enduring trend of AI, and the potential risks and opportunities in the current interest rate environment.

This episode was recorded on March 1, 2024.

James Morrison – Investing Is a Marathon, Not a Sprint

For over 30 years, the Mackenzie Ivy Team has established itself as one of the most time-tested defensive strategies, helping investors reach their long-term goals. On this episode, James Morrison, Vice President and Lead Portfolio Manager on the Mackenzie Ivy Canadian Team, explains his team’s strategy, focus on downside protection, and how managing the emotional aspects of investing can help clients succeed over time. He explores how the team builds conviction and the importance that corporate culture plays in their process.

This episode was recorded on February 22, 2024.

Dustin Reid – Why Rate Cuts Aren’t Likely in March

Are all bets off for the Fed to begin cutting rates in March? In this episode, Matthew Schnurr and Dustin Reid, Chief Fixed Income Strategist at Mackenzie Investments, discuss the Fed’s first meeting of the year and its implications for inflation and the U.S. economy. Despite the Fed’s dovish tone in December, Dustin analyzes the Fed’s shift to a neutral stance with a focus on inflation and why a rate a cut in March appears unlikely.

This episode was recorded on February 1, 2024.

Lesley Marks – Inflation, Interest Rates, and the Impact on Equities

What do the first four weeks of 2024 tell us about the year to come? Lesley Marks, Chief Investment Officer of Equities at Mackenzie Investments, provides her perspectives on the latest Bank of Canada decision and Monetary Policy Report, and discusses her outlook for the global economy as we progress through the year. Lesley also explains how recent data suggests a favourable environment for equities and why companies with durable growth are faring well over economically sensitive companies.

This episode was recorded on January 26, 2024.

Prerna Mathews & Laurent Boukobza – Is Cash Still King?

With predicted rate cuts potentially looming around the corner, should investors rethink their cash allocation? In our first episode of 2024, join host Matthew Schnurr as he welcomes Prerna Mathews, VP of ETF Product Strategy, and Laurent Boukobza, VP and Fixed Income ETF Strategist, to discuss their outlook for cash and cash-like solutions. Prerna and Laurent explore the changing landscape of cash over the past three years and provide tactical and strategic considerations for cash within client portfolios. Prerna also explains the importance of liquidity, tax implications, and yield when choosing between GICs, high-interest savings accounts, money market funds, and ETFs such as ultra-short bond ETFs.

For additional insights, see why it may be time to adopt a new approach to cash and cash equivalent allocations.

This episode was recorded on January 22, 2024.