Related Strategy & Insights
Portfolio Strategy Report (Q3 2025)
Despite the recovery in broad risk over the past few months, the underlying issue remains the same. The decades-long integration of global trade — with the United States at the hub — has been permanently disrupted. And unless we see a complete reversal from the Trump administration, the current regime of higher trade barriers is likely here to stay.
What’s more, we also appear to be in the early stages of something more nefarious — a capital war. As congressional members pass the “One, Big, Beautifull Bill Act”, a provision like Section 899, even if excluded, should send a reminder to non-U.S. investors that foreign investment is becoming less welcome than it has been in the past.
Related Trade Ideas & Podcasts
Podcast: Trump vs. Powell: Unpacking the Feud-July 23, 2025
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In this episode, ETF Strategist Bipan Rai, and your host, Erin Allen, unpack the growing tensions between U.S. President Donald Trump and Fed Chair Jerome Powell, touching on how political pressures could reshape monetary policy expectations and sector performance — and what it all means for investors. Erin Allen is a Director of Direct Distribution at BMO Global Asset Management (BMO GAM). She is joined on the podcast by Bipan Rai, Head of ETF Strategy, Exchange Traded Funds at BMO GAM. The episode was recorded live on Wednesday, July 23, 2025.
Podcast: Mid-Year Insights: ETF Industry Flows - June 10, 2025
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Will 2025 be another record year for the ETF industry? In this episode, Bipan Rai, Matt Montemurro, and your host, Erika Toth, look at the latest trends and flows in Canada. Erika Toth is a Director of Institutional & Advisory, Eastern Canada, at BMO Global Asset Management (GAM). She is joined on the podcast by Bipan Rai, Head of ETF Strategy, Exchange Traded Funds, BMO GAM, and Matt Montemurro, Head of Fixed Income & Equity Index ETFs, Exchange Traded Funds. The episode was recorded live on Tuesday, June 10, 2025.
Cooling trade tensions may prove temporary. How to prepare for more market flux.
A full reprieve from an all-out U.S.-China trade war may prove short lived, and we are cautious about whether the terms agreed to will guide the course of additional trade agreements between the United States and other countries. In our view, the U.K.-U.S. pact is also less informative, once you review the details.
Podcast: What Canada’s Election Results Mean for Investors - May 6, 2025
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In today’s episode, Bipan Rai, Matt Montemurro, and your host, Erika Toth, break down the recent federal election results. They discuss the Liberal government’s priorities, interprovincial trade barriers, the economic outlook — and what it all means for investors. Erika Toth is a Director of Institutional and Advisory at BMO Global Asset Management (BMO GAM). She is joined on the podcast by Bipan Rai, Head of ETF Strategy, Exchange Traded Funds at BMO GAM, and Matt Montemurro, Managing Director and Head of Fixed Income & Equity Index ETFs, Exchange Traded Funds, at BMO GAM. The episode was recorded live on Tuesday, May 6, 2025.
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