The Invested – Détails, épisodes et analyse

Investors widely expected a rate cut from the Fed, but the bold decision to lower interest rates by 50 basis points took many by surprise. In this episode, Dustin Reid, Chief Fixed Income Strategist, delves into the Fed’s first rate cut decision since 2020, its future outlook, and how it could affect other central banks worldwide. Dustin also examines recent Canadian inflation data, highlighting signs of economic weakness compared to the US, and how this might influence the Bank of Canada’s future decisions. Lastly, Dustin touches on the upcoming US presidential election and its potential impact on economic policies, particularly regarding immigration and labour market dynamics.

This episode was recorded on September 19, 2024.

In times of heightened market uncertainty, low volatility ETFs have increased in popularity. But can they help advisors manage risk without sacrificing their clients’ equity exposure? In this episode, Prerna Mathews, VP of ETF Product Strategy, and Nicholas Tham, Portfolio Manager on Mackenzie’s Global Quantitative Equity Team, explore the concept of low volatility ETFs, their performance, and common misconceptions. Nicholas highlights the team’s unique approach and investment process behind Mackenzie’s suite of low volatility ETFs. Lastly, Prerna and Nicholas share advice on how advisors can discuss low volatility ETFs with their clients.

This episode was recorded on September 5, 2024.

On this episode, Dustin Reid, Chief Fixed Income Strategist, discusses the latest CPI data and its implications for the Fed’s monetary policy. Could this suggest a path forward for the Fed to begin a rate cutting cycle as we approach the end of the summer? Dustin also explores the potential market implications of a Trump victory and a Republican sweep in the upcoming US elections.

This episode was recorded on July 11, 2024.

We are celebrating our 100th episode!

In this special episode, host Matthew Schnurr joins Mackenzie's CEO, Barry McInerney just before his retirement in July. 

Together, they reflect on the last 6 years of his career at Mackenzie Investments.

Learn by Key Topics:  

(0:54)  Views on Canadian Wealth Segments from Boomers to Gen Z 

(7:23)  How has Talent & Culture changed within Mackenzie 

(14:38)  Actions that re-shaped Diversity, Equity, and Inclusion 

(21:13)  Adjusting to the Pandemic Era and the Hybrid Model 

(29:44)  Reflections on 6 Years of Acquisitions 

(40:12)  Barry McInerney's Legacy at Mackenzie Investments   

At Mackenzie, we want to create a more invested world, partnering with advisors to help investors become more knowledgeable, more educated, and more invested so they can meet their full potential. Learn more at mackenzieinvestments.com 

In this episode, host Matthew Schnurr joins Mackenzie's Chief Fixed Income Strategist, Dustin Reid. 

Together, they explore the recent fed decisions to raise interest points by 75 basis points, what’s happening in Europe and Japan, and how all these affect the portfolio. 

Learn by Key Topics: 

(0:56)  Thoughts on Inflation and Yesterday's Fed Meeting  

(5:36)  Correlation of Long-term Inflation Expectations and Headline CPI  

(9:47)  Views on a Potential Recession (Labour Market, Consumer Demand, etc.) 

(15:05)  European Central Bank and Views on Europe 

(19:50)  Views on Inflation in Japan and Bank of Japan 

(26:25) U.S. Treasuries and Outlook on Inflation   

At Mackenzie, we want to create a more invested world, partnering with advisors to help investors become more knowledgeable, more educated, and more invested so they can meet their full potential. Learn more at mackenzieinvestments.com

In this episode, host Matthew Schnurr joins Richard Wong, SVP, Portfolio Manager, and Head of the Cundill Team at Mackenzie. 

Together, they explore value investing and how macroenvironment conditions affect the cycle during the pandemic era. 

Learn by Key Topics: 

(1:05)  Views on Current Macroenvironment Conditions Allowing for the Optimism in Value 

(6:29)  Value Stocks & Inflation 

(9:36)  Views on Commodities from Fossil Fuels to Renewable Energy 

(12:55)  Electric Vehicles (EVs), Consumer Demand, Key Players, and the Global Outlook 

(15:51)  What Our Team is Monitoring When Investing in the EV Space 

(18:15)  Opportunities in the Opening Trade 

(21:20)  How Views on Value Has Changed Over the Years 

At Mackenzie, we want to create a more invested world, partnering with advisors to help investors become more knowledgeable, more educated, and more invested so they can meet their full potential. Learn more at mackenzieinvestments.com 

In this episode, host Matt Schnurr joins Mackenzie's Lesley Marks, Chief Investment Officer of Equities. She oversees the investment professionals involved in the day-to-day management of Mackenzie funds across the firm’s 12 equity boutiques with more than $65 billion of Mackenzie’s assets under management.  

Together, they explore the Canadian economy (trends within the labor market and consumer spending), the stock market, the war in Ukraine and its impact on Europe, and ESG. 

Learn by Key Topics: 

(0:55)  Trends in Canadian Economy & Recession 

(6:20)  Equity Market – Are we at Maximum Pain? 

(12:17)  Recession Fears in Europe 

(15:18)  Views on Trends within ESG 

At Mackenzie, we want to create a more invested world, partnering with advisors to help investors become more knowledgeable, more educated, and more invested so they can meet their full potential. Learn more at mackenzieinvestments.com 

In this episode, host Matthew Schnurr joins Todd Mattina, Chief Economist and co-lead of Mackenzie’s Multi-Asset Strategies Team. Together, they revisit the Modern Monetary Theory, comparing pre-pandemic times to what's happening right now from a global standpoint.

Learn by Key Topics:

(1:02)  What is Modern Monetary Theory (MMT)

(3:51)  Mainstream Economic Community vs. MMT

(6:05)  Policy & Bank Response for MMT

(8:35)  Differences with 'Traditional' MMT responses

(12:13)  Risks with MMT

(25:11)  Why Modern Monetary Theory may not be a Viable Strategy

At Mackenzie, we want to create a more invested world, partnering with advisors to help investors become more knowledgeable, more educated, and more invested so they can meet their full potential. Learn more at mackenzieinvestments.com

In this episode, host Matthew Schnurr joins Darren McKiernan. He leads Mackenzie’s Global Equity & Income Team and he is also the lead manager of the Mackenzie's Global Dividend Fund.

Together, they explore all the moves Darren has made to re-position portfolios with a bottom-up approach. They also discuss views on technology companies, their valuations, and opportunities within this space.

Learn by Key Topics:

(1:00)  History of Portfolio Changes during the Pandemic to Now  

(17:39) Views on Technology from the Pandemic to Post-Pandemic Climate

At Mackenzie, we want to create a more invested world, partnering with advisors to help investors become more knowledgeable, more educated, and more invested so they can meet their full potential. Learn more at mackenzieinvestments.com

In this episode, host Matthew Schnurr joins Mackenzie's Chief Fixed Income Strategist, Dustin Reid.

Learn about:

(0:57)  Thoughts on last week's Fed meeting and bond markets

(6:50)  Views on Neutral Rate's potential increase

(10:34)  Impact of Quantitative Tightening 

(16:51)  Fed vs. Bank of Canada

(23:52)  COVID-19 & China's economic slowdown

(30:12)  How these affect Portfolio Management for the Fixed Income Team

At Mackenzie, we want to create a more invested world, partnering with advisors to help investors become more knowledgeable, more educated, and more invested so they can meet their full potential. Learn more at mackenzieinvestments.com