What are the side effects of higher pricing pressures and capital costs? In this episode, ETF Strategist Bipan Rai, and host, Michelle Allen, break down the potential implications for investors and why alternatives (alts) matter in the current environment. They also provide a third-quarter update on portfolio positioning.

Michelle Allen is a Senior Associate, Online Distribution, BMO ETFs at BMO Global Asset Management (BMO GAM). Bipan Rai is Head of ETF Strategy, Exchange Traded Funds, at BMO GAM. Recorded on July 15, 2025.

• Guided portfolio strategy report (Q3 2025)
• Quarterly fixed income strategy (Q3 2025)

Funds:

• BMO Low Volatility International Equity ETF (ZLI)
• BMO MSCI Emerging Markets Index ETF (ZEM)

Duration: A measure of a bond’s sensitivity to changes in interest rates. It is expressed in years and helps investors understand how much the price of a bond is likely to change when interest rates move.

Yield curve: A line that plots the interest rates of bonds having equal credit quality but differing maturity dates. A normal or steep yield curve indicates that long-term interest rates are higher than short-term interest rates.

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