FX Factor

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Macroeconomic thoughts and analysis from CIBC’s award winning team of strategists along with implications for currencies, fixed income, and other asset classes.

CIBC


    • May 2, 2024 LATEST EPISODE
    • monthly NEW EPISODES
    • 20m AVG DURATION
    • 29 EPISODES


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    Latest episodes from FX Factor

    Talking Intervention

    Play Episode Listen Later May 2, 2024 20:19


    Bipan Rai is joined by CIBC Capital Markets' Tushar Arora, Executive Director & Head of Institutional Cross-Asset Structuring, to discuss the recent intervention in JPY, economic/monetary policy divergence, and suitable diversifiers for risk in the FX space.

    How sensitive are CAD households to higher interest rates?

    Play Episode Listen Later Mar 25, 2024 22:06


    The rise in insolvencies and mortgage delinquencies in Canada. CIBC Capital Markets' Deputy Chief Economist, Benjamin Tal, joins Bipan Rai to discuss the risks to Canadian household consumer and mortgage credit, given the rate hikes from the Bank of Canada.

    We didn't start the (CPI) fire…

    Play Episode Listen Later Mar 14, 2024 23:45


    CIBC Economist Ali Jaffery joins Bipan Rai to discuss the recent developments in the US – including the February CPI print and what the path to a slower US economy looks like.

    Making sense of the US economy and the Fed

    Play Episode Listen Later Jan 19, 2024 19:47


    Bipan Rai and Ali Jaffery, Executive Director, Economics, dissect recent developments in the US economy, and talk about what to expect from the Fed at the next meeting. Also, Ali makes his Super Bowl pick.

    RIP to RRP?

    Play Episode Listen Later Nov 30, 2023 15:31


    CIBC Capital Markets' Bipan Rai and Pete Maiorano discuss the Fed's RRP facility and what to make of the decline of funds parked there since mid-year.

    The Fed, UAW Strike and More

    Play Episode Listen Later Sep 28, 2023 16:39


    CIBC Capital Markets' Economist Ali Jaffery joins Bipan Rai to discuss all things US – including the latest FOMC decision, the UAW strike, and what it means for the US economy.

    NPRs and the housing market

    Play Episode Listen Later Sep 1, 2023 20:43


    Bipan Rai and Benjamin Tal talk about the Canadian economy, the domestic housing market and why the number of non-permanent residents (“NPRs”) in Canada is actually higher than what's reported officially. Please note that this podcast was recorded before the announcement from Statistics Canada that it will revise its methodology for estimating the number of NPRs in the economy.

    The dynamics of the debt ceiling

    Play Episode Listen Later May 26, 2023 20:09


    Bipan Rai is joined by Peter Maiorano to hash out what could happen in the short-rates and FX markets amidst the ongoing debt ceiling concerns.

    Catching up with Benjamin Tal

    Play Episode Listen Later Mar 23, 2023 16:20


    Bipan Rai and Benjamin Tal, Deputy Chief Economist at CIBC Capital Markets, discuss the current state of affairs in the banking system and what it means for Fed and Bank of Canada policy.

    What's up with the Fed's RRP?

    Play Episode Listen Later Dec 22, 2022 14:45


    CIBC's Peter Maiorano joins the podcast to talk about why take-up of the Fed's overnight RRP facility remains so high and what to expect in 2023.

    The quids aren't alright – how the UK budget led to a collapse in the pound

    Play Episode Listen Later Sep 28, 2022 27:46


    Bipan is joined by UK-based FX Strategist Jeremy Stretch to discuss the UK budget, the gilts market and why the GBP collapsed over the past few days. Also, what can we expect from the Bank of England/UK Treasury going forward. Please note that this was recorded before the BoE announcement to buy long-end gilts on September 28.

    The choice between a recession and inflation…

    Play Episode Listen Later Jul 5, 2022 26:34


    Bipan is joined by CIBC Deputy Chief Economist Benjamin Tal to discuss the macro picture for the US and Canada – including the path for inflation going forward, what this means for rates/FX as well as the housing market.

    From CDOR to CORRA

    Play Episode Listen Later Jun 20, 2022 23:40


    Bipan is joined by Karl Wildi to discuss Canadian interest rate benchmark reform and the transition from CDOR to CORRA in the coming years.

    The trouble with curves and soft landings

    Play Episode Listen Later Apr 6, 2022 15:35


    Bipan and Ian Pollick, Global Head of FICC Strategy, talk rates – including why yield curves are inverting and whether this is a reliable signal for assets in general. Also covered are expectations for the Bank of Canada and the Federal Reserve and what this means for FX markets going forward. Ian also goes over why we shouldn't expect a ‘soft landing' at the end of this cycle.

    What the sanctions on Russia mean

    Play Episode Listen Later Mar 7, 2022 14:12


    CIBC's Bipan Rai walks through the sanctions on the Central Bank of Russia and financial institutions in Russia and what they mean for the markets.

    Framing the ECB and BoE going forward

    Play Episode Listen Later Feb 14, 2022 38:58


    Year of the tiger

    Play Episode Listen Later Jan 28, 2022 21:29


    From Hong Kong, CIBC's Patrick Bennett joins to discuss all things China. Is the economy entering a slowdown? Is the real estate sector there in deep trouble? What are the tools that the authorities using to provide liquidity? What's next for US/China relations? (also…will Bipan stop asking rhetorical questions?) Find out in the podcast!

    Crude awakening

    Play Episode Listen Later Jan 20, 2022 16:45


    Bipan is joined by Shaun Sherman (Head of Commodity Fundamentals at CIBC) to discuss the recent moves in energy prices, including what's in store for the OPEC+ deal, Iran talks as well as the Russia/Ukraine issue. Shaun also provides an update over how high oil and natural gas prices may climb.

    All About the Canadian Housing Market

    Play Episode Listen Later Dec 13, 2021 22:51


    Bipan is joined by CIBC Deputy Chief Economist Benjamin Tal for a discussion on the Canadian housing market and where things are headed in the coming years. We learn why this market isn't in ‘bubble' territory and what the implications for projected Bank of Canada rate hikes could mean.

    2021: A Rates Odyssey

    Play Episode Listen Later Nov 15, 2021 26:35


    Back by popular demand, the FX Factor podcast returns with Bipan and Ian discussing important macro themes. This includes the rise in global inflation, how the front-end of rates markets are currently priced, why sovereign rate curves have been flattening alongside what this all means for the currency markets.

    Digesting the FOMC

    Play Episode Listen Later Jun 21, 2021 23:27


    Bipan is joined by Global Head of FICC Strategy, Ian Pollick, to unpack last week's Fed meeting and what it means for macro markets. Ian also finds a way to use words like "irregardless" and "universion".

    Understanding the Fed's RRP Facility

    Play Episode Listen Later Jun 8, 2021 13:29


    Bipan is joined by Peter Maiorano, Managing Director of Global Collateral Finance at CIBC, to talk about why the Fed's overnight reverse repo facility has become a hot topic in the market of late.

    The wild west of cryptoassets

    Play Episode Listen Later Jun 1, 2021 23:20


    CIBC Director of Global Collateral Finance Aaron Carter joins to look at why cryptocurrencies (including Bitcoin) are here to stay, what the differences are between them, and why central banks are looking to issue their own digital currencies.

    Talking house prices, the recovery and inflation

    Play Episode Listen Later Apr 28, 2021 24:43


    CIBC Deputy Chief Economist Benjamin Tal joins Bipan on this edition to chat about several hot button topics affecting the US and Canadian economies

    Going LATAM

    Play Episode Listen Later Apr 8, 2021 11:28


    CIBC Latin America Strategist Luis Hurtado joins to discuss political issues in Latin America and comments on which currency is best positioned going forward (spoiler alert: It's NOT the Brazilian Real).

    De-mystifying the repo market

    Play Episode Listen Later Mar 29, 2021 18:47


    CIBC repo market expert Aaron Carter joins to talk about a key area of the financial system that you might not be familiar with.

    All Things China

    Play Episode Listen Later Mar 23, 2021 23:08


    Bipan chats with CIBC's Head of Asia Strategy, Patrick Bennett, to discuss his outlook on the Chinese economy and the CNH. Other topics discussed include China's annual parliamentary session and US/China relations.

    Nonplussed about OPEC+

    Play Episode Listen Later Mar 8, 2021 20:19


    Bipan hosts Head of Commodity Fundamentals at CIBC NY, Shaun Sherman, to discuss the latest OPEC+ decision and ramifications for markets.

    Hello world…

    Play Episode Listen Later Feb 22, 2021 21:36


    Bipan and Ian discuss why the Fed isn't likely to taper until next year and what that should mean for FX and rates markets. Also, latest updates on the Bank of Canada and the CAD.

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