The Invested

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.

Lori Kerr & Andrew Vasila – What COP28 Means for Sustainable Infrastructure and Investors

In our final episode of the year, join host Matthew Schnurr as he welcomes Andrew Vasila, Senior Investment Analyst on the Mackenzie Fixed Income Team, and special guest, Lori Kerr, CEO of FinDev Canada, to discuss their biggest takeaways from COP28 and what the future holds for sustainable infrastructure and investing.

This episode was recorded on December 15, 2023.

Dustin Reid – Unpacking the Fed’s Dovish Tone

In this episode, join host Matthew Schnurr as he welcomes Dustin Reid, VP and Chief Fixed Income Strategist at Mackenzie Investments, to discuss the dovish narrative that emerged from the Federal Reserve’s recent meeting. Dustin explores the underlying economic data that influenced the Fed’s decision and shares insights on the potential for rate cuts next year, starting as early as March. Dustin also shares his thoughts on the Bank of Canada’s stance and discusses fixed income opportunities in emerging markets.

This episode was recorded on December 14, 2023.

Special: 2024 Market Outlook with Lesley Marks and Steve Locke

The investment and economic environments have changed over the last 12 months. And elevated risks suggest that “safety first” is a good investment motto for the year ahead. In this special episode, host Matthew Schnurr is joined by Mackenzie Investments’ Lesley Marks, CIO of Equities, and Steve Locke, CIO of Fixed Income and Multi-Asset Strategies, to discuss their market outlook for 2024.

Topics discussed in their conversation include:

• Review of equity and fixed income markets this year
• Expectations from central banks next year
• Asset mix recommendations for equities and fixed income
• Three key themes 
• How geopolitical events can impact equities and fixed income

For more insights and perspectives, download our 2024 market outlook.

This episode was recorded on December 4, 2023

Konstantin Boehmer – Pockets of Value and Opportunities in Fixed Income Markets

In this episode, join host Matthew Schnurr and his guest Konstantin Boehmer, SVP, Portfolio Manager and Co-Lead of Mackenzie’s Fixed Income team, for a review of fixed income markets this year. Konstantin discusses his expectations for the year and explains that while overall performance in fixed income markets were not outstanding, there were pockets of value to be found. Konstantin also highlights his three most highly convicted fixed income ideas as we approach 2024.

This episode was recorded on November 23, 2023.

Benoit Gervais – Inflation and the Energy Transition: Implications for the Commodity Complex

In this episode, join host Matthew Schnurr as he welcomes Benoit Gervais, Portfolio Manager and Head of Mackenzie Resource team, to discuss the key factors driving long-term inflation expectations. Benoit explains the distinction between supply-led and demand-led inflation, highlighting the shift from temporary supply chain disruptions to sustained wage-driven inflation. Benoit also explores the implications of the energy transition on commodities, emphasizing the importance of environment and social standards in shaping consumer preferences.

This episode was recorded on November 21, 2023.

Lesley Marks – Is the Inflation Story Over?

Join host Matthew Schnurr and his guest Lesley Marks, CIO of Equities at Mackenzie Investments, as they explore the significant market drivers, from the complex geopolitical situation in the Middle East to the latest economic data. Lesley also discusses if Canada is in a technical recession and whether the inflation story is really over.

This episode was recorded on November 1, 2023.

Dustin Reid – Unravelling Central Bank Strategies: Market Pricing, Narratives, and Global Trends

In this episode, join host Matthew Schnurr as he welcomes Dustin Reid, VP and Chief Fixed Income Strategist at Mackenzie Investments, for an analysis of recent central bank actions in the US, Canada, and Japan. Dustin explores the Federal Reserve’s decision to hold interest rates, its approach to managing inflation, and the implications for the US economy. Moving to Canada, Dustin discusses the Bank of Canada’s concerns about sluggish economic growth and explores the possibility of cutting interests before hitting 2% inflation. Shifting to Japan, Dustin dissects the Bank of Japan’s yield curve control policy and the adjustments that have been made.

This episode was recorded on November 2, 2023.