Scotiabank Market Points

On this episode of Market Points, Sergio Olarte, Head Economist, Scotiabank Colpatria, and Jackeline Piraján, Senior Economist, discuss how the dynamic economic landscape in Colombia evolved over 2023. They lay out their main concerns and expectations for 2024, including the potential for a healthy deceleration in GDP growth.

Following weak IPO volumes in 2023, the pipeline of potential deals continues to expand. However, private companies looking to go public in 2024 may face tough hurdles, higher expectations from investors and uncertainty leading up to the U.S. election in November. On this episode of Market Points, Michelle Khalili, Managing Director and Global Head, Equity Capital Markets (ECM) at Scotiabank, sits down with John Cronin, Managing Director and Head, U.S. ECM, and Matt Sheehan, Managing Director and Head, Canadian ECM. They consider risks and opportunities for first movers that are ready to test market conditions.

Markets have been doing pretty well lately, but what’s in store for 2024? On this episode of Market Points, you’ll hear from Hugo Ste-Marie, Director, Portfolio and Quantitative Strategy, Global Equity Research. He provides advice to global institutional investors, but his insights will be of interest to investors of all kinds. He’ll tell us what the markets might look like in the year ahead, where there may be some opportunities, what a ‘perfect soft landing’ is — and whether we may see one — and much more.

Nearshoring is transforming global supply chains and driving immense growth across North American markets, particularly in Mexico. On this episode of Market Points, you’ll hear from Rodrigo Echagaray, Head of Latam Equity Research and Head of Global Product Management, as he moderates a discussion with Francisco Suarez, Analyst, Latam Cement, Construction and Real Estate; Konark Gupta, Analyst, Transportation and Aerospace; Tristan Richardson, Analyst, Clean Technologies and Energy Infrastructure; and Patrick Bryden, Analyst, Head of ESG Research. They discuss how nearshoring is driving significant growth in manufacturing and real estate in Mexico, while accelerating the integration of North America’s air and railway networks. They also cover why ESG is critical to nearshoring and North America’s clean-tech boom.

Game-changing innovations are redefining how money moves across borders. Like how SWIFT gpi and other cutting-edge advancements are paving the way for frictionless, transparent, and lightning-fast global transactions. On this episode of Market Points, you’ll hear from Dougal Middleton, Vice President, Enterprise Payments at Scotiabank and Kevin O’Neil, Director of Strategic Relationships and Head of Canada at SWIFT. They’ll discuss recent advancements, the role of data, and other trends that are transforming the global cross-border payments system. As well as the opportunities for businesses as payments become increasingly instant, borderless and contextual.

Interest rates increased rapidly to combat inflation in North America in the first half of 2023. However, the U.S. Federal Reserve Board and the Bank of Canada may be nearing the end of their robust monetary tightening cycles. Could this help promote market sentiment and stability? On this episode of Market Points, you’ll hear from Patrick Dabiet, Managing Director and Head, Canadian Debt Syndication, and Fadi Attia, Managing Director and Head, U.S. Debt Syndication, as they discuss corporate bond issuance patterns in the Canadian and U.S. markets in the first half of 2023, and look ahead to highlight key areas for borrowers and investors to consider during the rest of the year.

Massive interest-rate hikes triggered by inflationary pressures as well as supply and demand imbalances made 2022 especially challenging for global bond markets. Will 2023 bring more of the same turbulence? On this episode of Market Points, you’ll hear from Patrick Dabiet, Managing Director & Head, Canadian Debt Syndication, and Fadi Attia, Managing Director & Head, U.S. Debt Syndication, as they discuss key themes from the Canadian and U.S. markets in 2022 and why there may be reason for optimism for the upcoming year as it relates to corporate bond issuance patterns.

2022 was an unsettled year for markets. But what about 2023? On this episode, we bring you a conversation from the Scotiabank Perspectives podcast with Hugo Ste-Marie, Director, Portfolio and Quantitative Strategy, Global Equity Research at Scotiabank. His role is to give investment advice to large, institutional investors. In this conversation with him and Perspectives host, Stephen Meurice, he offers us a glimpse into his outlook for 2023. He’ll tell us what trends, potential pitfalls... and opportunities may lie ahead.

As Pacific Alliance economies emerge from the pandemic, the conversation has shifted to things like rising inflation, corresponding interest rate increases, and the implications for the region and individual countries. This episode of Market Points is all about the growth of the Pacific Alliance economies. You’ll be hearing a conversation led by Stephen Meurice, Director and Editor in Chief of the Scotiabank Perspectives Newsroom. He’s joined by Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank, and Stephen Guthrie, Senior Vice President, International Corporate and Commercial Banking.  They’ll discuss the reasons underpinning this inflationary period and a macro view of how policy makers and central bankers are responding. Also, how Scotiabank’s global expertise, local knowledge and tailored products and services are positioned to support clients in Latam. Source: Top Bookrunner of LatAm ESG Bonds (in Volume) in the Sustainable Bonds League Table (YTD as at April 2022, Bloomberg).

Diversity and inclusion is at the heart of social financings, and increasingly recognized as a core corporate strategy to drive performance. Navigating the sustainable finance environment is challenging, and our guests look to shed some light on the process. On this episode of Market Points presented by The Scotiabank Women Initiative®, we are joined by Agnes Vara, Director, Term Funding and Capital Management in Group Treasury, who has played an integral part in Scotiabank’s own sustainable issuances. And Melissa Menzies, Associate Director, Sustainable Finance, who is helping large organizations structure their own successful sustainable financings.   Important Disclosures This communication does not constitute investment advice or any personal recommendation to invest in a financial instrument or “investment research”. This communication is provided for information and discussion purposes only. An investment decision should not be made solely on the basis of the contents of this communication. It is not to be construed as a solicitation or an offer to buy or sell any financial instruments and has no regard to the specific investment objectives, financial situation or particular needs of any recipient. The information in this communication is based on publicly available information and although it has been compiled or obtained from sources believed to be reliable, such information has not been independently verified and no guarantee, representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. Past performance or simulated past performance is not a reliable indicator of future results. Forecasts are not a reliable indicator of future performance. Please refer to our legal disclosures on our website. Participation in The Scotiabank Women Initiative® or any program-related event does not constitute advice or an offer or commitment by Scotiabank to provide any financial products or services. ® Registered trademark of The Bank of Nova Scotia, used under license.nce. Please refer to our legal disclosures on our website.

Sustainable finance is top of mind for issuers and investors as the sector continues to grow. The sustainable debt market is evolving at a rapid pace, and Canada has the opportunity to lead. On this episode of Market Points, Brett House, Vice President and Deputy Chief Economist, discusses Canada’s sustainable finance position in the global context, and Bob Nguyen, Managing Director and Head, Corporate Fixed Income Origination, looks at the sustainability-linked bond market. Source: $60 billion of issuance of sustainability-linked bonds in 2021, which is five times the volume in 2020, Bloomberg Finance L.P. as at September 1, 2021. Important Disclosures This communication does not constitute investment advice or any personal recommendation to invest in a financial instrument or “investment research”. This communication is provided for information and discussion purposes only. An investment decision should not be made solely on the basis of the contents of this communication. It is not to be construed as a solicitation or an offer to buy or sell any financial instruments and has no regard to the specific investment objectives, financial situation or particular needs of any recipient. The information in this communication is based on publicly available information and although it has been compiled or obtained from sources believed to be reliable, such information has not been independently verified and no guarantee, representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. Past performance or simulated past performance is not a reliable indicator of future results. Forecasts are not a reliable indicator of future performance. Please refer to our legal disclosures on our website.

Q3 earnings for the Canadian banks came in strong again, beating the street by a comfortable margin. On this episode of Market Points, Meny Grauman, Managing Director, Financial Services, Global Equity Research, deciphers the results and shares his thoughts on the outlook for the Canadian banking sector. Important Disclosures Scotia Capital (USA) Inc. or its affiliates has managed or co-managed a public offering in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, Canadian Western Bank, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada. Scotia Capital (USA) Inc. or its affiliates has received compensation for investment banking services in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, Canadian Western Bank, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group. Within the last 12 months, Scotia Capital Inc. and/or its affiliates have undertaken an underwriting liability with respect to equity or debt securities of, or have provided advice for a fee with respect to, this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, Canadian Western Bank, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada. The Head of Equity Research or a Supervisory Analyst owns securities of this issuer in his or her own account or in a related account: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank Financial Group. Scotia Capital Inc. and its affiliates collectively beneficially own in excess of 1% of one or more classes of the issued and outstanding equity securities of this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group. The Bank of Nova Scotia and its affiliates collectively have a net long position in excess of 0.5% of the total issued share capital of the issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group. Scotia Capital (USA) Inc. or its affiliates expects to receive or intends to seek compensation for investment banking services in the next 3 months: Bank of Montreal, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group. This issuer and its affiliates collectively beneficially own in excess of 5% of the total issued share capital of The Bank of Nova Scotia: Royal Bank of Canada. Scotia Capital (USA) Inc. had an investment banking services client relationship during the past 12 months: National Bank of Canada. Scotia Capital Inc. acted as financial advisor to iA Financial Corporation Inc. in the announced sale of iA Investment Counsel Inc. to Canadian Western Bank.

Tune into this episode of Market Points for key highlights from the Emerging from the Pandemic: Strategies and Implications webcast. Presented by The Scotiabank Women Initiative, Brett House, Stephanie Lariviere and Marta Cano Escobar share their perspectives on the post-pandemic world, including an economic overview and insights into interest rates and inflation. The team offers solutions to help mitigate risk and seize opportunities and discusses leadership lessons, as we emerge from the pandemic.

Like most places in the world, Latin America’s economies are well on the road to recovery, but not yet out of danger from the COVID-19 pandemic. Markets have continued to provide support to the region as policymakers adjust fiscal and monetary measures to the next steps in re-opening. On this episode of Market Points, Brett House, Vice President and Deputy Chief Economist at Scotiabank, looks at what’s ahead for Latin America’s economies.

Retail has changed forever. Decades from now we’ll likely look back on 2020 and 2021 as pivotal years in the advancement of technology and the creation of new consumer habits that will carry on beyond retail reopenings. On this episode of Market Points, Patricia Baker, Director, Retailing, Global Equity Research, is back on the podcast to discuss the year that changed everything for retail.

Q2 earnings for the Canadian banks surprised on the upside once again, as they continue their trend of beating the consensus. Healthy optimism with respect to ending the pandemic and restarting the economy is providing support for the ongoing strength in the banking sector. On this episode of Market Points, Meny Grauman, Managing Director, Financial Services, Global Equity Research, discusses the key factors driving performance and his top favourite pick. Important Disclosures Scotia Capital (USA) Inc. or its affiliates has managed or co-managed a public offering in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group, Canadian Western Bank, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada. Scotia Capital (USA) Inc. or its affiliates has received compensation for investment banking services in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, Canadian Western Bank, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada. Within the last 12 months, Scotia Capital Inc. and/or its affiliates have undertaken an underwriting liability with respect to equity or debt securities of, or have provided advice for a fee with respect to, this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group, Canadian Western Bank, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada. The Head of Equity Research or a Supervisory Analyst owns securities of this issuer in his or her own account or in a related account: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group, Royal Bank of Canada, TD Bank Financial Group. Scotia Capital Inc. and its affiliates collectively beneficially own in excess of 1% of one or more classes of the issued and outstanding equity securities of this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group. The Bank of Nova Scotia and its affiliates collectively have a net long position in excess of 0.5% of the total issued share capital of the issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group. Scotia Capital (USA) Inc. or its affiliates expects to receive or intends to seek compensation for investment banking services in the next 3 months: Canadian Imperial Bank of Commerce, Canadian Western Bank, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada. This issuer and its affiliates collectively beneficially own in excess of 5% of the total issued share capital of The Bank of Nova Scotia: Royal Bank of Canada. Scotia Capital (USA) Inc. had an investment banking services client relationship during the past 12 months: National Bank of Canada. Scotia Capital Inc. acted as financial advisor to iA Financial Corporation Inc. in the announced sale of iA Investment Counsel Inc. to Canadian Western Bank.

At the start of the pandemic’s reach into North America the Canadian dollar tumbled, but by the end of April 2021 the loonie had hit highs against the US dollar that it hadn’t seen for just over three years. Is all this strength leading us back to parity? On this episode of Market Points, Shaun Osborne, Managing Director and Chief Currency Strategist at Scotiabank, joins us to discuss the rise in the Canadian dollar and where we could be headed from here.

Businesses are feeling more and more optimistic. While it’s clear we are not out of the woods yet, several forces are at play to support a strong recovery. But as the economy heats up, inflation concerns mount. On this episode of Market Points, Scott Morrison, Managing Director and Head, Commercial Derivative Products and FX Sales, and Brittany Owens, Director, Commercial Derivative Products Group, share their insights from the business community and discuss the strong fundamentals behind the great Canadian restart.

The Canadian banks beat the street once again, and analysts make significant upward revisions to forward-looking earnings estimates into 2022. Canadians have increased their savings throughout the pandemic and the pent-up consumer demand is poised to support continuing performance in the banking sector. On this episode of Market Points, Meny Grauman, Managing Director, Financial Services, Global Equity Research at Scotiabank, talks about the strength of the sector and why he is so bullish on the banks. Important Disclosures Scotia Capital (USA) Inc. or its affiliates has managed or co-managed a public offering in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group. Scotia Capital (USA) Inc. or its affiliates has received compensation for investment banking services in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group. Within the last 12 months, Scotia Capital Inc. and/or its affiliates have undertaken an underwriting liability with respect to equity or debt securities of, or have provided advice for a fee with respect to, this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group. The Head of Equity Research or a Supervisory Analyst owns securities of this issuer in his or her own account or in a related account: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group. Scotia Capital Inc. and its affiliates collectively beneficially own in excess of 1% of one or more classes of the issued and outstanding equity securities of this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce. The Bank of Nova Scotia and its affiliates collectively have a net long position in excess of 0.5% of the total issued share capital of the issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group.

The Pacific Alliance – the Latin American trade bloc of Mexico, Peru, Chile and Colombia – has its sights set on growth. But each country has its own idiosyncrasies that investors need to consider. 2021 is particularly unique as the countries are coming out of a global crisis while facing elections, rewriting constitutions, and managing their fiscal and monetary strategies. On this episode of Market Points, Tania Escobedo, Latam Macro Strategist at Scotiabank, explores the investors approach to policy and politics in the Pacific Alliance.

On his first day in office, U.S. President Joe Biden cancelled the Keystone XL pipeline project, citing America’s prioritization of a clean energy economy. What does the cancellation mean for Canadian oil, and are oil markets safe from a repeat of 2020? As the global economy strives for a turnaround, our guest on this episode of Market Points, Marc Desormeaux, Senior Economist at Scotiabank, makes the connections between some critical commodities and our economic comeback.

In the early days of the COVID-19 pandemic, Latin America was reeling from high case counts and economic implosion. But as 2020 came to a close, while Canada, the United States, and Europe were struggling – and still are – to contain a second wave, Latin America bounced back, with some economic activity even returning to pre-pandemic levels. Latin America is now poised for serious growth in the years to come. In this episode of Market Points, Brett House, Vice President and Deputy Chief Economist at Scotiabank, puts Latin America under a microscope and sees promising results.

2020 was the most surreal year many of us have ever experienced. Meanwhile, the Canadian dollar seemed to behave normally, which is of course an extremely Canadian thing to do. In 2021, global economies have some heavy lifting ahead, but what should we expect from currencies? In this episode of Market Points, Shaun Osborne, Managing Director and Chief Currency Strategist at Scotiabank, discusses what may be in store for the Canadian and US dollars.

In 2019, on the first anniversary of The Scotiabank Women Initiative, Global Banking and Markets (GBM) launched its dedicated women initiative with bespoke programs focused on career and business acceleration for clients. GBM’s initiative has now reached its own one-year anniversary milestone. A key highlight for clients and colleagues alike has been The Scotiabank Good Corporate Governance Program. On this episode of Market Points, Loretta Marcoccia, Executive Vice President and Chief Operating Officer and Executive Sponsor of The Scotiabank Women Initiative for Global Banking and Markets and Julie Walsh, Senior Vice President, Corporate Secretary and Chief Corporate Governance Officer, discuss the program and how the Bank is building a pipeline of the most board-ready executives in Canada.

The Canadian Big Banks provided earnings surprises once again. But given COVID-19’s deep winter wave and an economy that still requires a lot of support, how much longer can they keep this up? In this episode of Market Points, Meny Grauman, Managing Director, Financial Services, Global Equity Research at Scotiabank, talks earnings opportunities and which bank stocks are worth a closer look. Important Disclosures: Scotia Capital (USA) Inc. or its affiliates has managed or co-managed a public offering in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, TD Bank Financial Group. Scotia Capital (USA) Inc. or its affiliates has received compensation for investment banking services in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, TD Bank Financial Group. Scotia Capital (USA) Inc. or its affiliates expects to receive or intends to seek compensation for investment banking services in the next 3 months: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada. Within the last 12 months, Scotia Capital Inc. and/or its affiliates have undertaken an underwriting liability with respect to equity or debt securities of, or have provided advice for a fee with respect to, this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank Financial Group. The Head of Equity Research or a Supervisory Analyst owns securities of this issuer in his or her own account or in a related account: Bank of Montreal, Canadian Imperial Bank of Commerce, TD Bank Financial Group. Scotia Capital Inc. and its affiliates collectively beneficially own in excess of 1% of one or more classes of the issued and outstanding equity securities of this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, TD Bank Financial Group. The Bank of Nova Scotia and its affiliates collectively have a net long position in excess of 0.5% of the total issued share capital of the issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, TD Bank Financial Group.

The experience of operating a business during the COVID-19 pandemic has contextualized the meaning of risk for many business owners. Business has always been a risk-reward trade-off, but successful businesses understand which risks are the ones that are worth it: innovative R&D, investing in building inspiring corporate culture, a ground-breaking advertising campaign. And they make a conscious decision to remove the risks that aren’t at the core of their business purpose: things like interest rate and currency uncertainty that could threaten their cash flow and ultimately the business itself. In this episode of Market Points, Scott Morrison, Managing Director and Head, Commercial Derivative Products and FX Sales, explains how hedging strategies work to keep businesses moving through uncertain times.

The investment community has embraced Environmental, Social and Governance (ESG) with more and more institutional investors formalizing ESG analysis into their investment thesis. Environmental factors have captured most of the headlines for some time, as nations and corporations have recognized the climate crisis, and have been taking steps to address and reverse negative environmental impacts before it's too late. Governance factors have even deeper roots. Institutional investors have been evaluating and calling for stronger board stewardship for decades now, but aspects of the S, the social factors, have been comparatively ignored. Institutional investors have realized that Diversity & Inclusion in an organization is a predictor of superior performance. On this episode of Market Points, we present key highlights from a recent webcast from The Scotiabank Women Initiative, titled The “S” of the ESG Triangle, where our ESG and Sustainable Finance experts put social factors under the spotlight.

Joe Biden was introduced as the President-Elect of the United States this past weekend after major media outlets, as is customary, called the election in his favour. Unsurprisingly, President Trump has failed to concede to date and has continued to push his team to pursue legal action in the hopes of overturning the results, with the general consensus that these efforts will be in vain. The markets agreed, pushing forward as a Biden presidency became more likely, and then on Monday morning, they moved strongly on the news that Pfizer is showing promising results for its COVID-19 vaccine. In this episode of Market Points, Jean-François Perrault, Senior Vice-President and Chief Economist at Scotiabank, discusses his perspective on the economic impacts of a Biden administration.

The COVID-19 pandemic rages on. As we enter a second wave, we must learn from our experiences these past few months and do what we humans do best: adapt. Armed with new knowledge, businesses have been meeting the challenge head on and reopening their offices in ways that best serve the needs of their employees and customers. Scotiabank started its learning curve early. As a global bank, it benefitted from on-the-ground experience in Asia and quickly maneuvered to evolve its practices as the virus moved around the world. In this episode of Market Points, we share key highlights from a recent webcast, Workplace Re-Entry: Lessons Learned, A Scotiabank Perspective, where leaders discussed their experiences through our collective journey overcoming a once-in-a-century challenge. Presented by The Scotiabank Women Initiative for Global Banking and Markets. Panelists: • Loretta Marcoccia, EVP and COO, Global Banking and Markets • Jennifer Frook, Vice President, Enterprise Crisis Management • Julia Cowan, Director, HR Business Partner • Mike Merkley, Managing Director, Global Banking and Markets

The Latin American region is facing considerable environmental, social and governance (ESG) challenges, but each challenge presents an opportunity to strengthen economic performance across industries and nations. Regional ESG investors must contend with an incredibly diverse landscape, and should understand the interplay between firms, their customers, their supply chain and their place in the larger economic ecosystem. In this episode of Market Points, Francisco Suarez, Director, Global Equity Research at Scotiabank Mexico, discusses the region’s ESG evolution. Francisco covers ESG for Latin America and is also a member of Mexico’s multi-disciplinary working group for the country’s 2030 climate agenda.

LIBOR, the London Interbank Offered Rate, a key set of interest rates linked to hundreds of trillions of dollars of financial contracts and instruments in on its way out. The British Financial Conduct Authority, or FCA, which oversees LIBOR announced that it may be phased out after December 31, 2021, when they will no longer require the banks to provide LIBOR offers. These decisions have deep and far-reaching consequences. Hear from Scotiabank leaders who discuss key priorities to consider as your organization makes plans for the transition away from interbank offered rates.

The Latin American sustainable finance market is teeming with opportunity. As various countries in the region look to fund infrastructure gaps they are turning to the sustainable market for their critical environmental and social projects, which is laying the groundwork for more corporations to access the market. Juan Fullaondo, Managing Director and Head, Debt Capital Markets, Latin America and Caribbean, discusses the regional surge in sustainable finance. Scotiabank’s newly created Sustainable Finance Group, within the Global Banking and Market’s division, supports clients' evolving requirements for sustainable financing and Environmental, Social and Governance (ESG) related investments.

The banking sector in Canada surprised the street with better than expected Q3 earnings results. But with credit fears still looming, serious uncertainty remains. In this episode of Market Points, Meny Grauman, Managing Director, Financial Services, Global Equity Research at Scotiabank, analyzes the banking sector’s Q3 results and shares some key considerations for investors. Important Disclosures Scotia Capital (USA) Inc. or its affiliates has managed or co-managed a public offering in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank Financial Group. Scotia Capital (USA) Inc. or its affiliates has received compensation for investment banking services in the past 12 months: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank Financial Group. Scotia Capital (USA) Inc. or its affiliates expects to receive or intends to seek compensation for investment banking services in the next 3 months: Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada. Scotia Capital (USA) Inc. had an investment banking services client relationship during the past 12 months: Royal Bank of Canada. Within the last 12 months, Scotia Capital Inc. and/or its affiliates have undertaken an underwriting liability with respect to equity or debt securities of, or have provided advice for a fee with respect to, this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank Financial Group. The Head of Equity Research or a Supervisory Analyst owns securities of this issuer in his or her own account or in a related account: Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, TD Bank Financial Group. Scotia Capital Inc. and its affiliates collectively beneficially own in excess of 1% of one or more classes of the issued and outstanding equity securities of this issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group. This issuer and its affiliates collectively beneficially own in excess of 5% of the total issued share capital of The Bank of Nova Scotia: Royal Bank of Canada. The Bank of Nova Scotia and its affiliates collectively have a net long position in excess of 0.5% of the total issued share capital of the issuer: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, TD Bank Financial Group.

Mexico entered the pandemic already in a recession – and economic pressures from COVID-19, such as the severe drop in travel and tourism, have only exacerbated the problem. However, our new global reality has also created opportunities for growth in Mexico. In this episode of Market Points, Francisco Suarez, Director, Global Equity Research at Scotiabank Mexico, discusses pain points and bright spots in the Mexican economy.

The COVID-19 pandemic has impacted the way we conduct business today and will influence the way we conduct business in the future. What has changed, and how can we work to be better prepared? In this episode of Market Points, we present key highlights from a recent webcast hosted by The Scotiabank Women Initiative, Talking Treasury: Funding, Risk Management, and Digital Solutions in a post-pandemic world. Designed for Corporate Treasurers – but pertinent to everyone navigating the current and future business environment – the cross-disciplinary panel of Scotiabank leaders share their experiences and views on relevant topics, from trade to foreign exchange to investment themes to digital opportunities.  Panelists: • Adam Swinemar, Vice President, Customer Experience and Digital Channels • Dyanne Carenza, Vice President, Head of Trade and Supply Chain Finance • Ryan O’Keefe, Managing Director and Head, Corporate and Retail, FX Sales • Marta Cano, Managing Director, Global Equity Derivatives

While US COVID-19 case numbers have risen drastically over the last few months the US dollar has slid, with the US dollar index off over 10% since its March peak. Typically, in times of global crisis the dollar acts as a safe haven, but there are several forces at play this time around that are contributing to dollar depreciation. In this episode of Market Points, Shaun Osborne, Managing Director and Chief Currency Strategist at Scotiabank, returns to the podcast to triage the ailing greenback.

When was the last time you visited a mall, or went to your office? The health reasons keeping us away are certainly temporary if we look to history. But what about the rapid adoption of technology that has crystallized the effortlessness and affordability of online shopping. Or finding that by working from home, we are not only getting more done but recapturing precious untold hours we used to spend in traffic. In this episode of Market Points, Mario Saric, Managing Director, Real Estate and REITs, Global Equity Research at Scotiabank, dives into sector performance and opportunity and explains how office and retail are positioned for the future.

Through the COVID-19 pandemic, our homes have been converted into offices, classrooms, and in some cases, recording studios. The housing market has roared back in May and June, but the jury is still out on the long-term effects of the crisis on the Canadian housing stock. In this episode of Market Points, Marc Desormeaux, Senior Economist at Scotiabank, provides the latest numbers and shares his insights on the foundational strength of Canadian housing.

The International Monetary Fund downgraded its forecast for 2020 to a 4.9% retraction in global growth. Coronavirus cases are re-escalating in new areas. Employment numbers continue to slide. Yet, retail sales are improving, and we’ve experienced significant gains in equity markets since the late March lows. So, are things getting better, or worse? Or is it too early to tell? In this episode of Market Points, Jean-François Perrault, Senior Vice President and Chief Economist at Scotiabank, provides his perspective on our economic prospects and some of the fundamental shifts we should prepare for.

In Canada, the Federal government continues to put the full weight of its financial powers into the fight against the economic turmoil caused by COVID-19. But have these programs performed as advertised, in providing Canadians and Canadian businesses the support they desperately need? Effectiveness aside, the question remains, can we afford this? In this episode of Market Points, Rebekah Young, Director, Fiscal and Provincial Economics at Scotiabank, provides her perspective on Canada’s financial position and sheds light on the question of affordability.

In June of 2020, Brexit has lost most, if not all, of its headline attention in North America. But if the UK and the EU cannot agree to new trade terms by the end of this year, Britain will be faced with serious economic consequences. In this episode of Market Points, Juan Manuel Herrera, Currency Strategist at Scotiabank, breaks down the current state of trade negotiations and explains how Brexit may diminish London’s position and power as a global financial centre.

Latin America is a massive, culturally diverse region under significant stress as Brazil becomes the new epicentre of the COVID-19 pandemic, frustrating near-term re-opening plans. To compound regional challenges, the retail sector across Latam lacks the e-commerce maturity of other markets, historically tied to consumers' reliance on cash. But rapid change is on its way. In this episode of Market Points, Rodrigo Echagaray, Managing Director and Head of Latin American Equity Research at Scotiabank, discusses the regional reshaping of retail.

When Amazon entered the marketplace, it triggered a retail revolution. The convenience factor has quickly become a necessity for many consumers – and the lasting impact on consumer behaviour will most certainly be significant. But right now, retail is reeling with an unprecedented retraction in sales, big name bankruptcies, and mounting unemployment. In this episode of Market Points, Patricia Baker, Director, Retailing, Global Equity Research at Scotiabank, brings us up to speed with the current conditions and shares her thoughts on how shopping has changed forever.

Equity markets stormed back despite very frightening economic numbers. How has the Canadian dollar behaved alongside this market optimism? And with continued fiscal and monetary stimulus, fears of inflation have re-emerged. Meanwhile, incoming Bank of Canada governor, Tiff Macklem, has not ruled out negative interest rates. In this episode of Market Points, Shaun Osborne, Managing Director and Chief Currency Strategist at Scotiabank, shares his expectations for the Canadian dollar and explains why inflationary fears may be overblown.

The global economy has slowly started to reopen. As the world attempts an apprehensive return to normal, if there is such a thing, how well positioned are Latin American countries for recovery? And what does a strong Latin America mean for Canada? In this episode of Market Points, Brett House, Vice President and Deputy Chief Economist at Scotiabank, discusses Latam in a global context and explains why international relations are more important than ever.

China appears to be at the beginning of a recovery while the world’s largest economy, the United States, is still reeling from the effects of COVID-19. Emerging market economies around the globe rely heavily on the health of these two giants for trade and investment. But which countries are exposed to greater risk due to additional domestic weakness? Which nations could recover ahead of us all? In this episode of Market Points, Bertha Arroyo, Associate Director, FX Trader at Scotiabank, shares an update on the opportunities and threats facing the emerging market economies in Asia and Latin America.

The Q1 numbers on the Canadian economy are in, and the hit we’ve taken has been massive. On April 15th, the Bank of Canada announced a new round of stimulus measures designed to minimize the damage caused by the COVID-19 crisis. By taking a page out of the Fed playbook, the Bank of Canada is reluctant to talk forecasting, citing uncertainty surrounding the situation we find ourselves in. But if we don’t understand how deep the hole might be, is there a downside to these unprecedented fiscal and monetary measures? In this episode of Market Points, Derek Holt, Vice President and Head, Capital Markets Economics at Scotiabank, shares his thoughts on the rough economic road ahead.

If the COVID-19 pandemic is an economic war, fiscal and monetary policy form critical components in the battle plan. A country’s success certainly depends on the size of their war chest, but more importantly, its their willingness to use it. Their speed of deployment, and their ability to coordinate efforts across various levels of government, that will ultimately determine the effectiveness of any policy. But as countries concentrate their efforts on mitigating domestic damage, cracks begin to form in international relationships. The EU has three of its largest economies – Italy, Spain and France – among the hardest hit regions across the globe. In this episode of Market Points, Juan Manuel Herrera, Currency Strategist at Scotiabank, shares his thoughts on government and central bank policy effectiveness, and winning the fight for our lives and livelihoods.

In what has been one of the strangest quarters in modern history, COVID-19 has brought record volatility and unprecedented uncertainty in the financial markets. Economies around the globe have slammed on the brakes, travel and hospitality industries have virtually disappeared, and oil prices have plummeted. But what does this mean for the Canadian dollar? In this first episode of Market Points, we hear from Shaun Osborne, Managing Director and Chief Currency Strategist at Scotiabank.