Saakshi Mehta joined BMO Global Asset Management in October 2025 and currently serves as Vice President, ETF and Alternatives Strategy. Her work focuses on macroeconomic trends and their implications for ETF markets, including analysis of monetary policy, fiscal developments, and market structure across asset classes. Prior to joining BMO GAM, Saakshi was part of the Portfolio Strategy team at Ontario Teachers’ Pension Plan. She holds a Master of Financial Economics from the University of Toronto and a Bachelor of Arts in Economics and Psychology from the University of British Columbia.
Canada’s latest budget marks a major pivot toward long-term growth, with C$115B in infrastructure spending alongside substantial allocations for defense and housing. Alongside those investments, the Feds are encouraging private sector participation via regulatory streamlining and tax incentives.
Both the Bank of Canada and the U.S. Federal Reserve held rates steady last week — but the real story was in the details. In this episode, Saakshi Mehta and host, Zayla Saunders, unpack the messaging behind the holds, what the Fed’s new leadership could mean for markets, and why a 60−20−20 portfolio approach is worth a closer look right now. Zayla Saunders is Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM). She is joined by Saakshi Mehta, Vice President, ETF & Alternative Strategy at BMO GAM. This episode was recorded live on Monday, May 4, 2026.
All prices, returns and portfolio weights are as of market close on March 31, 2026, unless otherwise indicated.
Q1 2026 earnings season has been off to a strong start. As of Monday (April 27), nearly 30% of the S&P 500 companies have reported, with roughly 80% beating expectations. Despite persistent macro noise, markets are increasingly rewarding earnings delivery rather than reacting to headlines, pushing equities to record highs in April.
Oil prices remain the dominant swing factor across sectors. The market continues to trade off geopolitical headlines, with conflict duration and price direction creating uneven sector tailwinds and headwinds. This has resulted in sharp leadership shifts that are disconnected from longer term fundamentals.
With Q4 2025 earnings largely complete and 75% of S&P 500 companies beating expectations, fundamentals remain constructive. That said, market leadership in 2026 looks very different than in 2025. Energy leads at +23% year-to-date (YTD), while Technology is down -3.4%, highlighting a clear rotation away from last year’s growth leaders.