E174 – Will the Fed ‘Hike in May and Go Away?’

In a recent announcement, the Federal Open Market Committee raised rates by 25 basis points in its 10th consecutive hike. On today’s special episode, portfolio managers Matt Montemurro, Chris Heakes and your host Mckenzie Box digest Federal Reserve Chairman Jerome Powell’s market-moving comments. They also discuss dividend strategies, the JPMorgan Chase takeover of First Republic, Canadian banks and mega-cap tech stocks. Read the episode summary.  Mckenzie Box is Director of Product and Strategy at BMO Global Asset Management. She is joined on the podcast by Matt Montemurro and Chris Heakes, Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on Wednesday, May 3, 2023. ETFs mentioned in the podcast: BMO Canadian Dividend ETF (ticker: ZDV) BMO US Dividend ETF (ticker: ZDY) BMO Equal Weight Banks Index ETF (ticker: ZEB) BMO Covered Call Canadian Banks ETF (ticker: ZWB) BMO Covered Call Technology ETF (ticker: ZWT) BMO Low Volatility US Equity ETF (ticker: ZLU) Disclosure: Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus of the BMO ETFs before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Exchange traded funds 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, please see the specific risks set out in the BMO ETF’s prospectus. BMO ETFs 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. 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. ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.