In this short (7 min) Metal Matters podcast, we discuss whether the recent RRR cut signals a Chinese policy change which could influence commodity markets, moving forward the first Fed hike, steel production cuts in China and why Europe’s carbon border adjustment mechanism is just a stepping stone. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/132C274D-CDFC-4E2F-B7DE-4B1BF484D9D0.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets...
Jul 23, 2021•7 min
As equity markets head into the second half of 2021, the following podcast provides an update on our forecasts for both the US and Canadian stock markets, with particular attention on the secular bull market in the US, Canada’s consistent performance, and the transition to more fundamentally driven portfolio management. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/8E7041BD-9C39-4CEB-83A4-030509E14121.PDF To access our full disclosures, please visit: https://researchglo...
Jul 16, 2021•14 min
In our inaugural Metal Matters podcast, we consider China’s SRB base metal sales, met coal market tightness, cost inflation and our latest commodities outlook. BMO clients can view our report, "Q3 2021 Commodity Price Update - Beyond the Inflationary Bottleneck Bonanza", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/b115acb0-9b85-452b-b1c2-197536e25703/ Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/132C274D-CDFC-4E2F-B7DE-4B1BF484D9D0.PDF To access...
Jul 09, 2021•6 min
Oil & Gas Thematic Analyst Jared Dziuba discusses the BMO Energy Research Team’s latest IN Front report: “Survivor Canada: The Unparalleled Position of Canadian Oil in a Transition Challenge.” Against commonly held views, we engage in a thought-provoking discussion about why the Canada’s oil sands business is poised to maintain long-term production, and potentially gain market share in a net zero, energy transition world. Jared points out that Canada and its oil companies have practiced ESG ...
Jul 02, 2021•27 min
In this podcast, Sohrab reviews the Canadian banks’ second quarter results, makes the case why Canadian banks should be outperformers in the next year or so, and draws investors’ attention to Outperform-rated BNS, CM, and NA. To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/
Jun 11, 2021•21 min
BMO Capital Markets’ Group Head, Dan Barclay, moderates a discussion on the takeaways from BMO’s 16th Annual Farm to Market Conference across the food and agriculture value chain. Joel Jackson, Chemicals and Fertilizer Analyst, explores how farmers and crop input producers are handling higher commodity prices, how on-farm carbon management and sustainability are becoming increasingly relevant, how digital agriculture analytics tools have become table stakes, and how technology may become the sol...
May 31, 2021•23 min
Congested urban landscapes and overburdened ground infrastructures are about to be transformed with a new form of transportation, a scheduled or on-demand air taxi service that can whisk passengers along faster, safer, and less expensively than the alternatives. Improvements in battery technology and distributed electric propulsion and leaps in aerospace technology have given rise to electric vertical takeoff and landing (eVTOL) aircraft. We expect that the first commercial flights of these inno...
May 28, 2021•14 min
Oil and Gas Analyst Randy Ollenberger discusses the notion of peak oil demand and what it really means. Randy explains why oil demand is likely to continue to grow over the balance of this decade before beginning a slow decline. He also examines the global supply outlook and discusses why there could be a supply shortage in the next five years. And finally, Randy provides his views on how the Canadian oil sands companies are positioned to outperform in this environment. BMO clients can view our ...
May 04, 2021•20 min
Chemicals and Fertilizer Analyst Joel Jackson discusses the latest in ag chemicals, fertilizer, and lithium, and also summarizes his recent in-depth report on digital agriculture. With lower-than-expected crop production last year in different regions and China rebuilding its animal herds, crop prices have risen materially and raised the possibility of an ag super cycle. Joel explains why he thinks the seeds and crop chemicals producers could be best positioned to profit from this. He also lays ...
Apr 09, 2021•19 min
We review the implications of the announcements made at China’s recent NPC meeting, which saw the release of the 14th Five-Year Plan for economic development, for global metals and bulk commodity markets. Into H2 2021, China’s aim for more balanced growth after an investment-heavy 2020 may see a retracing of some year-to-date gains across industrial metals. Longer term, however, the country’s push for decarbonisation and rural revitalisation will help to underpin demand. To access our full discl...
Mar 17, 2021•24 min
BMO Capital Markets ESG Strategist, Doug Morrow and Real Estate Analyst, Jenny Ma, run through the highlights of their most recent report: Building Momentum: ESG Performance in the Canadian Real Estate Industry, as well as BMO’s integrated approach for assessing ESG in fundamental equity research. BMO clients can view our report by visiting: https://researchglobal0.bmocapitalmarkets.com/research/cdb3bdf9-37df-498d-9f7b-65dfd5fbb78a/ To access our full disclosures, please visit: https://researchg...
Feb 26, 2021•31 min
With Joe Biden sworn in as the 46th U.S. President, and on the day Canada marked the one-year anniversary of its first confirmed COVID-19 case, BMO hosted a live panel with internal and external experts to discuss the battle against the pandemic, from a health, markets, and macroeconomic perspective, including where it will finally plateau. Moderated by Chief Investment Strategist Brian Belski, the call featured medical commentary from Dr. John Whyte, Chief Medical Officer, WebMD, and Dr. Howard...
Jan 26, 2021•36 min
Cannabis Analyst Tamy Chen discusses recent developments in U.S. cannabis. The U.S. will have a new Democratic President and the Democratic Party will take control of the U.S. Senate. Concurrently with the election, ballot initiatives in five states voted for some form of cannabis legalization. In this podcast, Tamy explains the current U.S. cannabis regulatory landscape, the potential pathways forward for regulatory reform, and what timing could look like. In addition, she provides her views on...
Jan 15, 2021•19 min
As Canada and the United States begin the roll-out of a game-changing vaccine against COVID-19, BMO hosted a panel with in-house and external experts to discuss the implications from a health, markets and macroeconomic perspective, including where we are now, when a new normal might begin and what it will look like. The panel was moderated by Chief Investment Strategist Brian Belski, and featured medical commentary from Dr. John Whyte, Chief Medical Officer, WebMD, and Dr. Allison McGeer, Senior...
Dec 15, 2020•30 min
COVID-19 has caused an abrupt channel shift from in-store to grocery e-commerce as consumers act to minimize risk at a minimal incremental fee. As a result, online grocery sales during the pandemic have reportedly doubled in the U.K. and China, tripled in Canada, and grown 5x to 6x in the U.S. BMO has conducted a proprietary survey of 1,000 Canadians to find out how their grocery shopping habits have shifted as a result of COVID-19 and, more importantly, how they intend to grocery shop going for...
Nov 27, 2020•17 min
Unprecedented, unrivaled, unparalleled, and incomparable are all adjectives that can be used to described life in 2020, let alone equity markets in the U.S. and Canada. In the following podcast, we provide our outlook for both markets – how 2021 represents another year of the unprecedented bull in the U.S. and how Canada remains an undiscovered value proposition. Please view our report "2021 Market Outlook: The Year Ahead for the US and Canada" here: https://researchglobal0.bmocapitalmarkets.com...
Nov 20, 2020•15 min
The COVID-19 pandemic is a catalyst for innovations in the retail sector, and we believe that landlords can play a significant role in the new normal. Retailers have raced to refine and rejig their stores and distribution facilities, with the spotlight moving to a new category of functional spaces: dark stores and ghost kitchens. Our discussion today takes a deep dive into these potential uses for retail space and follows the release of our recent thematic report, “Trick or Treat: Dark Stores an...
Nov 13, 2020•20 min
With the votes all but counted, Joe Biden has been named the next president-elect of the United States, but it will be some time before we know the final shape of Congress. BMO Capital Markets hosted a client call on Nov. 9 to discuss the likely outlook for investment under the new government and in the face of a worsening pandemic. What will a new stimulus package look like and what will it mean for the economy and the bond and equity markets? Speaking to the economy was our Deputy Chief Econom...
Nov 09, 2020•23 min
With the U.S. Presidential election results still hanging in the balance, BMO Capital Markets hosted a client call to discuss investment strategy based on what we know so far. The call, hosted by BMO Capital Markets Chief Investment Strategist Brian Belski, also featured expert commentary from Margaret Kerins, Managing Director and Head of FICC Macro Strategy, and Michael Gregory, Deputy Chief Economist and Head of U.S. Economics. Our experts urged caution around premature investment decisions a...
Nov 04, 2020•21 min
Special Situations Analyst Stephen MacLeod and his Associate, Nevan Yochim, discuss recent developments in e-commerce. E-commerce growth has been, and is expected to continue, outpacing traditional bricks and mortar retail sales growth. While the shift towards e-commerce has been happening over many years, COVID-19 has accelerated the pace of adoption for companies and consumers alike. Stephen and Nevan discuss the role of physical stores in light of e-commerce adoption, identify three important...
Oct 30, 2020•18 min
BMO Capital Markets' Telco, Cable, and Media analyst Tim Casey discusses the implications and status of 5G deployment, the path to use cases, and milestones for investors to benchmark from a Canadian perspective. BMO clients can view our two reports, “5G: It's a Marathon, but Still a Race”, and "5G’s Field of Dreams: If You Build It, Will They Come?" by visiting: https://researchglobal0.bmocapitalmarkets.com/research/42269e7b-5730-4529-9a37-2cb67e6b65f3/ and https://researchglobal0.bmocapitalmar...
Oct 16, 2020•27 min
For the first time in recent history, retailers are choosing how many stores to open, not how many to close. In this podcast, we delve into our counter-intuitive claim that the pandemic created a (hopefully) once in a lifetime ”opportunity” for companies to focus on health, rather than growth - re-fashioning businesses for the future and using a “COVID-19 Cover” to ponder whether stronger is better achieved via smaller. At the risk of oversimplifying, we see two options: 1) store closures to cut...
Oct 02, 2020•29 min
In this podcast, two senior BMO analysts – Colin Hamilton and Brian Quast – examine the new price environment for gold and how companies have responded. After an introduction to our current gold price outlook, we dive into a discussion of how companies can behave differently, both on an operational level, and on a corporate level. Leverage to higher gold prices is discussed along with capital discipline and capital returns to shareholders. To access our full disclosures, please visit: https://re...
Sep 18, 2020•19 min
Education analyst Jeff Silber discusses the impact of the pandemic on the education sector. While loath to call any sector a "winner" during the current crisis, education would fit as more schools go online and need assistance from the many companies in this space that have been doing this successfully for years. In addition, he believes the pandemic has accelerated the acceptance of online learning as a modality, which should continue to spur growth even when the pandemic ends. To access our fu...
Aug 24, 2020•27 min
Over the next 12-24 months, parcel and courier companies are expected to benefit from several demand drivers. A cyclical recovery is expected to support improving B2B shipments while the COVID-19 virus has accelerated the adoption of e-commerce, supporting secular growth in B2C volumes. The pandemic has also grounded the global passenger aircraft fleet, which is expected to return into service at a slower rate than the recovery in freight demand; this could result in a multi-year positive supply...
Jul 31, 2020•8 min
BMO’s industry-leading Materials team explores key takeaways from this year’s record-breaking Chemicals & Packaging Conference, for both corporate and investor attendance. The event, highlighted by fireside chats with 32 of the Chemical and Packaging Industries’ leading executives, provided detailed thoughts around near-term fundamentals and challenges in the current COVID-19 landscape ranging from demand trends to employee safety to updated thoughts on capital allocation. Equally important ...
Jul 24, 2020•15 min
Almost overnight, the COVID-19 pandemic has given us a glimpse into the future of work, and introduced a new and potentially material risk to the office market ecosystem. Its impact will be hotly discussed but challenging to measure and forecast for a long time. As companies rethink their office space requirements, the jury is still out on the adoption of the work-from-home (WFH) theme over the long term. For office REITs, valuation is at levels not seen in several years and can be considered at...
Jul 17, 2020•17 min
Five host analysts from BMO’s 5th Annual Prescriptions for Success Healthcare Conference explore their key takeaways related to multiple value drivers across the healthcare industry along with evolving dynamics from COVID-19, which they gleaned from fireside chats and presentations, as well as moderated panels with several thought leaders. This year, the conference was held in a virtual setting, and similar to prior years, it was highlighted by discussions with senior executives from almost 60 l...
Jul 03, 2020•38 min
This week's special podcast is the 11th in a series highlighting insights on COVID-19 with Dr. John Whyte, MD and Chief Medical Officer of WebMD. This is an excerpt from an institutional conference call originally hosted on June 29, 2020, at 11:00 a.m. ET, moderated by BMO Capital Markets Chief Investment Strategist Brian Belski, along with BMO experts Michael Gregory, CFA, Deputy Chief Economist, and Jon Hill, CFA, Vice President, US Rates Strategy, as well as Dr. John Whyte, MD and Chief Medic...
Jun 30, 2020•31 min
Equity research analysts Ben Pham, James Thalacker, and Danilo Juvane discuss key emerging trends in the North American pipeline, utility, and renewable sectors, as countries re-engage post COVID-19 restrictions. The podcast explores how the North American energy infrastructure companies prepare to re-think their operations, business models, and competitive position in another round of energy transition. Other key themes discussed include ESG investing, long-term industry growth rates, and valua...
Jun 19, 2020•22 min
