Curve Your EnthusiasmEpisode 89
33 min

A good ol’ family fight

Ian is joined by Jeremy Saunders and Brenden Donaher to discuss the key rates themes ahead of the FOMC meeting, including the case for a hike versus waiting until September. They discuss the Bank of Canada, why a quiet policy outlook makes trading the distribution of hikes one of the few real opportunities, and Ian’s view that structural and cyclical forces on duration are currently roughly balanced.

Ian PollickJeremy SaundersBrenden Donaher
Featured in this episode:

Ian Pollick, Jeremy Saunders, Brenden Donaher

Curve Your EnthusiasmEpisode 86
44 min

A Conversation with Jean Boivin

In the first episode of Curve Your Enthusiasm in 2026, Ian is joined by Ali Jaffery from CIBC economics and Jean Boivin, Head of BlackRock Global Investment Institute. Jean begins the episode by outlining his core investment themes for 2026 across asset classes. It is hard to talk about 2026 without discussing AI, and Jean provides his view on why the near-term economic impact is inflationary, versus the longer-run impact which is disinflationary. The group discusses the risks inherent in the AI buildout, opines on market pricing across regions, and finishes the episode with a deep-dive on the Canadian economy and inflation path.

Ian PollickAli JafferyJean Boivin
Featured in this episode:

Ian Pollick, Ali Jaffery, Jean Boivin

Curve Your EnthusiasmEpisode 85
28 min

Fiscal thoughts & world series ambitions

Canada is weeks away from receiving the federal budget, which is creating a lot of interest from market participants. In this episode, Ian and Ali spend time discussing why this budget will look different than those in prior years. The introduction of the new framework, coupled with expectations of fiscal stimulus, make this a key event for markets. The show begins with Ali discussing the reasons for the changes to the framework, while Ian discusses why markets are so hyper-focused on how the budget will be financed. The pair spend some time talking about whether the Bank can ease rates after the budget has been released, focusing on the impact to the economy from the elevated fiscal spend. The show concludes with Ian discussing why markets are reluctant to price-in more from the Bank, while Ali opines on what a Blue Jays World Series win will do the economy!

Ali JafferyIan Pollick
Featured in this episode:

Ali Jaffery, Ian Pollick

Curve Your EnthusiasmEpisode 84
28 min

A very stable disequilibrium

In this episode of Curve Your Enthusiasm, Ian is joined by Brendan Donaher, Executive Director STIRT trading. The show begins by discussing the recent U.S. jobs report, and the implications to the perception of economic data going forward and how that should affect the bond market. Brenden discusses how FOMC pricing has evolved, and his favorite trades. The duo begin to discuss what Fed pricing means for BoC pricing, rightly noting how cheap CAD front-end valuations are. Brenden provides his view on what pension hedging means for Canadian cross-currency basis swaps, while also highlighting key themes in global funding markets. The show ends with a discussion on the BoC’s balance sheet, and which trades Ian and Brenden think offer the most attractive opportunities at present.

Brenden DonaherIan Pollick
Featured in this episode:

Brenden Donaher, Ian Pollick