A good ol’ family fight

Ian is joined this week by Jeremy Saunders & Brenden Donaher. The trio begins the show by talking about the elephant in the room, which is the FOMC meeting next week. Ian and Brenden discuss why a hike is likely, while Jeremy discusses the benefits of waiting until September. The discussion turns to the Bank of Canada, and why a boring BoC profile means micro trading the distribution of hikes is the only real trade. Ian outlines his view on duration, and why the structural and cyclical forces in both directions are roughly even. Brenden does a deep dive on CORRA, while Jeremy discusses his preference for owning carry on the CORRA/SOFR curve. The group finishes the episodes discussing North American swap spreads, and providing their favourite near-term trades. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.