In this short (16 min) podcast, we discuss the key recent changes we have made to our EV sales forecasts and battery assumptions, and the resulting impacts on various upstream battery metals including lithium, nickel, cobalt, graphite, and others. BMO clients can view our reports, "Raise EV Targets Higher and Update Key Assumptions to Varying Upstream Effect", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/abe03309-3d6b-432e-8507-3ebf507894eb/ and "Changing Some EV and Lithi...
Sep 16, 2022•16 min
BMO clients can view our report, “Best of BMO Q322” by visiting: https://researchglobal0.bmocapitalmarkets.com/research/e165cee3-dced-46c4-942a-df8e116962ae/ Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/DD9845C9-AE86-457A-93FE-7D24B4201212.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/
Sep 09, 2022•25 min
With agricultural related GHG emissions accounting for about quarter of global emissions, conversations around the role of farming in carbon and emissions management are intensifying. This includes the capacity of soil to sequester carbon by growers transitioning to farming practices such as no-till and cover cropping. Governments are starting to incentivize such transitions, and numerous food and crop input producer pilot programs to track on-farm sustainability practices have emerged. In this ...
Aug 26, 2022•12 min
BMO Capital Markets’ Group Head, Dan Barclay, moderates a discussion on the takeaways from BMO’s 17th Annual Farm to Market Conference across the food and agriculture value chain. Joel Jackson, Chemicals and Fertilizer Analyst, discusses his views on where we are in the ag cycle, the supply constraints on fertilizers, and the impacts of the invasion in Ukraine on his coverage of fertilizer companies. Ken Zaslow, Food and Agribusiness Analyst, takes the listener on a deep dive into how inflation ...
May 25, 2022•22 min
Oil & Gas Thematic Analyst Jared Dziuba discusses the BMO Energy Research Team’s latest IN Front report: “Outer Limits: Exploring the Cost (Opportunity) of Canada’s Net Zero Pathways.’” We engage in a comprehensive discussion about the potential cost of the Canadian oil industry’s net zero ambitions as it relates to carbon abatement technology deployment, and its implications on the financial health of producers and shareholders. Jared emphasizes that Canada’s oil sands producers are uniquel...
Apr 01, 2022•26 min
The Best of BMO is our quarterly compilation of our broad macro views, as well as our best stock ideas for the next 12 months. Essentially, it is an equity idea book. In this episode, we are joined by six of our analysts to delve into the details of their Best of BMO stock pick. Joining the podcast are Randy Ollenberger, Oil and Gas analyst; Jackie Przybylowski, Metals and Mining analyst; Fadi Chamoun, Transportation analyst; Peter Sklar, Consumer analyst; Tom MacKinnon, Insurance analyst; and T...
Mar 18, 2022•25 min
In this short (10 min) Metal Matters podcast, we discuss feedback from BMO’s Global Metals & Mining Conference, how supply disruptions can result in demand destruction and the turbulence in the LME nickel market. Episode transcript: research-ca.bmocapitalmarkets.com/documents/CC8ED4F0-7D47-4B21-82BE-A766225F7AEB.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/
Mar 11, 2022•11 min
Plant-based meat was taking off and becoming a part of the consumer's diet. Then, COVID-19 hit and changed the growth trajectory. In this episode, we address 1) what happened?; 2) will plant-based meat have the same success as plant-based milk?; 3) what does the plant-based meat industry need to do to regain its footing and growth; and 4) what key adjustments and strategies are required to adapt to the new normal? Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/4AAC6D9E-5...
Feb 18, 2022•14 min
2021 turned out to be a great year for oil and gas investors. Randy Ollenberger and Ray Kwan think that 2022 has the potential to be equally good as a multi-year bull market for energy takes hold. This podcast covers their outlooks for oil and gas prices, heavy oil differentials as well as the impact inflation and M&A can have on the associated equities. In short, Randy and Ray believe that the recent European energy crisis’ impact on commodity prices and current concerns about the potential...
Feb 04, 2022•21 min
As we get ready for IFRS 17, effective January 1, 2023, for Canadian, European, and Asian insurers, investors need to understand how it will reflect drivers of value, and, most importantly, what further analysis and perhaps potential adjustments to reported items are relevant in an IFRS 17 world. This podcast discusses the key differences between IFRS 17 and the current IFRS 4, and, more importantly, highlights the need to look beyond just IFRS 17 reported earnings, BV, and ROE in assessing shar...
Jan 21, 2022•15 min
Carbon, Capture, Usage and Storage (CCUS) represents one of the best near-term opportunities to reduce C02 emissions, particularly as Canada looks to meet its 2030 and 2050 reduction targets, and we expect the Canadian Energy industry to play a large role over the next several years. Overall, we estimate CCUS represents a +$10 billion opportunity in the pipeline infrastructure alone, and much more when including the carbon capture facility itself, ancillary infrastructure, and energy services re...
Dec 22, 2021•19 min
This week on IN Tune we are sharing another episode from BMO Smarter Investing, titled "What does the economy look like for Canada, the US, and Europe in 2022?" Interest rates and the global economy in general has been quite volatile since 2020 due to uncertainties of the pandemic. We've seen businesses open back up to the public and life slowly resemble normalcy. Now with the new COVID-19 variant, Omicron, it looks that more uncertainty is on the horizon for 2022. BMO economists Sal Guatieri, D...
Dec 21, 2021•21 min
The rail industry is innovating on several fronts with pilot projects to assess alternative fuels for locomotion, automated track and railcar inspection as well as digital initiatives throughout the enterprise. We expect these innovations, along with the possible transition to a single-person crew, to meaningfully bend the cost curve and deliver strong growth in earnings over the next several years. Over the longer-term horizon, we see increased competitive intensity as autonomous trucking becom...
Dec 10, 2021•15 min
Are cryptocurrencies a scam or a new form of digital gold? Are they investments or speculative assets? We speak with BMO Technology Analyst, Deepak Kaushal, to discuss the first principles of blockchain technology, how cryptocurrencies capture value, and what the industry landscape looks like today. We also touch on the growing number of opportunities in public equity markets, important risks, and a framework for investors to consider, when they are ready to take the plunge. Episode transcript: ...
Nov 22, 2021•29 min
This week on IN Tune we are sharing the first episode of a new BMO podcast, BMO Smarter Investing, titled The Rise of Inflation: Who wins and who gets hurt the most. Inflation is at an all-time high right now since the 1990s: Over 6% in the US and over 4% in Canada. BMO economists Douglas Porter and Sal Guatieri discuss what this means for interest rates, who wins and who gets hurt the most from high inflation, and where they believe inflation will be going within the years to come. Visit BMO.co...
Nov 19, 2021•20 min
With the acceleration during COVID-19, online grocery is here to stay. How are the Canadian Grocers addressing this growing segment of the grocery market? How is online grocery impacting the economics of the grocery business? What will the grocers need to do to win in the future? In this episode of our podcast, BMO Consumer Analysts, Peter Sklar and Tamy Chen will dive into these topics. This episode is an extension of our recently published IN Front report and BMO Expert Event. BMO clients can ...
Nov 05, 2021•17 min
In this short (8 min) podcast we discuss what caused the sharp move in copper last week, China’s current property situation, and how the magnesium situation will bring more focus to critical metals. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/9C77E7C6-514C-4684-91E2-9A9388CC4404.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/
Oct 29, 2021•8 min
With just over two months left in 2021, equity markets in both Canada and the US have managed to exhibit positive returns—despite continued fears and rhetoric regarding inflation, rising interest rates, and supply chain disruptions, to name a few. In this podcast we discuss our views on stock market performance during rising interest rates environments, energy sector dynamics, and growth versus value positioning. In addition, we highlight our favorite ideas and themes on a sector-by-sector basis...
Oct 22, 2021•19 min
In this short (8 min) Metal Matters podcast we discuss feedback from LME Week, the knock-on implications from the global energy crisis, and the key conclusions from our recently published copper report. BMO clients can view our report, "Rethinking the Long-Term Copper Challenge", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/52b25693-0a56-46d0-8987-30a4359d1f4f/ Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/C7A70448-B3ED-4CFA-A004-E8CB1725FD59.PDF ...
Oct 15, 2021•8 min
In this episode of our podcast, we reconnect with Doug Morrow, Director, ESG Strategy, and get his view on today’s big ESG themes and an update on the research team’s ESG initiative. We cover the upcoming COP 26 and concerns about greenwashing, and review key findings from some of our latest ESG research, including the GHG intensity of the S&P/TSX 60 companies, as well as the launch of our ESG Tear Sheet product for the Canadian packaging industry. BMO clients can view our reports: "ESG Matt...
Oct 08, 2021•21 min
In this short (8 min) Metal Matters podcast, we discuss the knock-on effects of China’s power rationing, central bank policy, and what we expect from the forthcoming LME Week discussions. BMO clients can view our report, "Q4 2021 Commodity Price Update - Surprises Shift From Demand to Supply", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/8d79e3cb-c27a-4083-97ec-52ec01ce62df/ Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/31BE112F-B079-47C1-80E7-A9D...
Oct 01, 2021•8 min
In this short (9 min) Metal Matters podcast we discuss the challenges facing China on both the policy and property fronts, aluminium’s recent price gains, and drivers of price divergence in iron ore and met coal. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/2E2C86DA-1933-4B6B-A50C-77EB6CE08F59.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/
Sep 17, 2021•9 min
BMO Capital Markets recently increased its electric vehicle (EV) penetration forecasts to 7% this year, and 15% by 2025, with important spillover impacts into lithium, nickel, and cobalt. This podcast highlights the work of our analysts, Joel Jackson, Robin Fiedler, and Colin Hamilton, and is a deep dive into our EV forecast, the supply and demand dynamics in lithium and other raw materials, and the impact on related equities, as well as the supply complexity that the industry faces. BMO clients...
Sep 10, 2021•16 min
In this short (8 min) Metal Matters podcast we discuss the upcoming World Nuclear Association and Denver Gold conferences, the electric vehicle upgrade cycle and the impact logistical constraints may have on the wider metals cycle. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/F3F967B9-82F6-4CC6-A57C-F973D8D5D164.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/
Sep 03, 2021•8 min
The Canadian Investment Funds Industry is a mature and saturated marketplace. The wealth management operations of the Canadian banks, with a leading and growing market share in Canadian investment funds, an inherent distribution advantage, as well as a pricing advantage, continue to outperform the independent fund companies. In a mature and saturated marketplace where it’s increasingly difficult to compete against the wealth management operations of the Canadian banks, we see challenges for the ...
Aug 27, 2021•16 min
In this 7 min Metal Matters podcast, we discuss 1) why strong free cash flow hasn’t yielded many new project approvals, 2) China’s steel production cuts and capacity offshoring, and 3) why the countdown to the COP26 Summit will keep the focus on metals involved with the global energy transition over the next three months. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/B52119E4-D910-43C8-9A5F-72FD7F2107FA.PDF To access our full disclosures, please visit: https://researchg...
Aug 20, 2021•7 min
The mining industry doesn’t always have a reputation for being an early adopter of leading-edge technology. But innovations will be increasingly important to offset cost inflation and improve mining efficiency and safety in the future, as new mines will generally be increasingly lower grade and higher cost. Ore sorting is one technology that is likely to make a meaningful impact on the mining industry. Pre-concentration can eliminate low grade or otherwise uneconomic material before the expensiv...
Aug 13, 2021•24 min
We recently invited Will Hess and Song Gao from PRC Macro to discuss with us their outlook for the Chinese economy in the second half of the year, and the potential implications for commodity markets as the economic growth rate starts to slow. Presentation slides: https://research-ca.bmocapitalmarkets.com/documents/752B6C7D-C872-4233-80BC-B40E12DDF1E8.PDF Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/4D76577A-BC69-4CA6-BBB2-7145C2C3AECB.PDF To access our full disclosure...
Aug 10, 2021•1 hr 16 min
In this short (6 min) Metal Markets podcast, we discuss what metals and mining producers are doing with strong free cash flow, the potential for copper supply disruptions amid Chilean labour negotiations and what would happen to commodities in the event of another China lockdown as Delta-variant cases spread. BMO clients can view our report, "Dialing up DRI Developments", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/9082e43b-76e1-4d5c-9973-ddc6da064a6d/ Episode transcript:...
Aug 06, 2021•6 min
Members of the Canadian and US REIT research teams discuss their recent IN Front report which addresses the rapid growth of property technology (PropTech). The team also discusses the state of the REIT landscape as we emerge from the COVID-19 pandemic and, lastly, the team offers their respective top picks in the US. BMO clients can view our report, "PropTech: The Next Frontier in Commercial Real Estate", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/6414940b-1b38-4739-a131...
Jul 30, 2021•20 min
