E154 – Canadian Banks Put Pandemic Cash Cushions to Use

RBC’s blockbuster bid for HSBC, the country’s seventh-largest lender, has capped a wave of Canadian bank M&A. In today’s episode, portfolio managers Vishal Bhatia, Chris McHaney, and your host, McKenzie Box, dive into the growth potential these deals hold for the banks. They also discuss how to position portfolios amid a steepening yield-curve inversion, and possible end to China’s zero-COVID policy. Finally, where to find value among tech’s discounted mega-caps. Read episode summary. McKenzie Box is Vice President of Product and Strategy at BMO Global Asset Management. She is joined on the podcast by Vishal Bhatia and Chris McHaney, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on November 30, 2022. ETFs mentioned in the podcast: BMO Long Federal Bond Index ETF (Ticker: ZFL) BMO Long-Term US Treasury Bond Index ETF (Ticker: ZTL) BMO Long-Term US Treasury Bond Index ETF (Hedged Units) (Ticker: ZTL.F) BMO Ultra Short-Term Bond ETF (Ticker: ZST) BMO MSCI China ESG Leaders Index ETF (Ticker: ZCH) BMO MSCI Emerging Markets Index ETF (Ticker: ZEM) BMO Equal Weight Banks Index ETF (Ticker: ZEB) BMO Covered Call Canadian Banks ETF (Ticker: ZWB) BMO MSCI All Country World High Quality Index ETF (Ticker: ZGQ) Disclosure: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. The BMO ETFs or securities referred to herein are not sponsored, endorsed or promoted by MSCI Inc. (“MSCI”), and MSCI bears no liability with respect to any such BMO ETFs or securities or any index on which such BMO ETFs or securities are based. The prospectus of the BMO ETFs contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc. and any related BMO ETFs. Commissions, management fees and expenses (if applicable) all may be associated with investments in BMO ETFs and ETF Series of the BMO Mutual Funds. Please read the ETF facts or prospectus of the relevant BMO ETF or ETF Series before investing. BMO ETFs and ETF Series are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs or ETF Series of the BMO Mutual Funds, please see the specific risks set out in the prospectus. BMO ETFs and ETF Series trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination.   BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. ETF Series of the BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal. BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.