Forthlane Off the Charts | with Andrew Sarna

Rising bond yields are sending shockwaves through financial markets, and few asset classes are immune.

In this episode of Off the Charts, Andrew Sarna breaks down why rising yields have far-reaching implications for investors, how AI-driven enthusiasm is masking weakness across the broader equity market, and how investors can build portfolios that are better positioned for a world of persistent inflation.

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This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions 

The Fed hiked for the first time in three years and the bigger risk may be what comes next. 

In this episode of Off the Charts, Andrew Sarna breaks down why 25 basis points isn't the real concern, how AI-driven earnings are masking weakness across the broader economy, and what family offices should actually be doing with their portfolios right now.

WHAT TO LISTEN FOR

5:35 Why is AI, not the broader economy, driving equity market resilience right now?

7:49 What happens to semiconductors and data center suppliers if hyperscaler spending slows?

10:53 What does the "new permanent portfolio" look like for family offices in this environment?

15:07 Why is private equity likely to underperform unlevered equities in the current rate environment?

17:02 Where should family offices look to find opportunity when most asset classes look challenged?

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This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions.

Trade wars are giving way to a new set of pressures; rising bond yields, a stronger-than-expected jobs report, and a Fed caught between hiking and losing credibility.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui unpack why US 10-year yields near 17-year highs are squeezing risk assets, what a blowout August jobs report actually says about the health of the economy, and whether the Fed hikes at next week's FOMC meeting.

Listen for:

:28 Why are bond yields at 17-year highs putting risk assets under pressure?

2:17 What would actually need to reverse for yields to come down?

4:42 What does the August jobs report really tell us about the US economy?

7:54 Why is Canada's job market a more worrying picture than the US?

9:20 Will the Fed hike rates next week... and what happens either way?

CONNECT WITH ANDREW SARNA

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CONNECT WITH VANESSA HUI

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This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions 

Trade wars are escalating, the global trading order is fracturing, and a quiet US Treasury move just sent gold and Bitcoin surging.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui unpack the collapse of Canada-US trade negotiations, the case that this conflict is ultimately about China, and what the Treasury's bond market move signals for investors holding real assets.

WHAT TO LISTEN FOR

:35 Why did Canada-US trade talks collapse — and who's really to blame?

3:59 What do 50% auto tariffs mean for Canadian manufacturing and investment?

6:29 Is the trade war with Canada actually a proxy war with China?

10:21 What did the US Treasury announce and why did gold and Bitcoin spike?

12:35 What are the four ways out of a debt trap — and which path are we on?

CONNECT WITH ANDREW SARNA

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Off the Charts Newsletter  

CONNECT WITH VANESSA HUI

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This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions.

The labour market is sending mixed signals, corporate earnings are booming, and bonds may be quietly eroding your purchasing power. 

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui unpack July employment reports; Q2 corporate earnings that are running at near-COVID-recovery levels, and the current challenges with traditional bonds.

WHAT TO LISTEN FOR

:31 Why did the US lose 23,000 jobs while unemployment actually fell?

4:34 What does 50% S&P earnings growth really mean for investors?

7:37 Which sectors surprised most — and is the SaaS apocalypse over?

16:22 What should investors hold instead of bonds to protect purchasing power?

CONNECT WITH ANDREW SARNA

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Off the Charts Newsletter 

CONNECT WITH VANESSA HUI

Website | LinkedIn 

This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions.

AI Capex is rattling markets, Trump has a new policy trigger, and the Fed's new chair faces his first big test.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui break down why hyperscalers spending $700 billion on AI infrastructure is spooking investors, why Trump's decision to return to the negotiation table with Iran is best understood through a four-variable "taco index," and why new Fed Chair Kevin Warsh is almost certain to hold rates, even as hike odds climb.

WHAT TO LISTEN FOR

:32 Why is the market punishing hyperscalers for their AI CapEx spending?

1:42 Are the Mag Seven turning into the next commodity producers? 2:48 What is the taco index and how does it predict Trump's next move?

5:38 What should investors expect from new Fed Chair Kevin Warsh this week?

7:37 How is AI reshaping the real economy and what does it mean for rate hikes?

CONNECT WITH ANDREW SARNA

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Off the Charts Newsletter  

CONNECT WITH VANESSA HUI

Website | LinkedIn 

This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions.

Inflation is collapsing, passive investing has a hidden risk, and private equity is flashing warning signs.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui break down why June's surprise CPI drop may be too good to be true, why passive investing has quietly become a concentrated bet on AI, and why now is not the time to rush into new private equity allocations.

WHAT TO LISTEN FOR

:28 What does June's surprise CPI drop mean for markets and the rate outlook?

3:08 How concentrated is the S&P 500 in AI — and what are the risks for passive investors?

6:50 Where is Forthlane finding genuine diversification away from the AI theme?

8:55 Is now the right time to increase private equity allocations?

CONNECT WITH ANDREW SARNA

Website | LinkedIn

Off the Charts Newsletter 

CONNECT WITH VANESSA HUI

Website | LinkedIn 

This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions.

Markets, gold, and the USMCA: three stories making headline. 

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui break down why the S&P 500’s June dips masks a broadening market, why gold’s recent pullback may not weaken its longer term case, and how the upcoming USMCA review creates serious uncertainty for Canada’s economy.

WHAT TO LISTEN FOR

0:30 Why Is the S&P 500 Hiding Strength in the Broader Market?

2:26 Are AI Hyperscalers Becoming the New Commodity Producers?

3:32 Could Amazon Become the Next ExxonMobil?

4:06 What Is Driving the Pullback in Gold Prices?

10:00 How Could a USMCA Breakdown Hurt Canada’s Economy?

Off the Charts Newsletter 

CONNECT WITH ANDREW SARNA

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CONNECT WITH VANESSA HUI

Website | LinkedIn 

This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions 

Andrew Sarna and Vanessa Hui break down three topics influencing markets: the prospects and pitfalls of a Middle East peace deal; the growing national security implications of frontier AI models; and what reaccelerating inflation above 4% means for investors.

WHAT TO LISTEN FOR

0:22 What should investors make of the anticipated Middle East peace announcement?

4:01 Why did the US government force Anthropic to pull its Mythos class of models?

7:41 What does headline CPI above 4% mean for markets?

CONNECT WITH ANDREW SARNA

Website | LinkedIn

Off the Charts Newsletter 

CONNECT WITH VANESSA HUI

Website | LinkedIn 

This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions.

Markets are splitting into winners, worriers, and one very expensive rocket ship. 

In this episode of Forthlane’s Off the Charts podcast, Andrew Sarna breaks down three market-moving stories: the “K-shaped” U.S. economy, where wealthy households keep spending while lower-income consumers face shrinking savings and rising delinquencies; Canada’s technical recession, driven by weak productivity, housing dependence, trade uncertainty, and pressure on living standards; and the looming SpaceX IPO, which could become the biggest capital raise in history while testing just how far retail speculation, index demand, and Elon Musk’s story-stock power can go.

WHAT TO LISTEN FOR

00:03 What are the three biggest market stories this week?

01:56 Why are lower-income households struggling while markets hit records?

04:02 Is Canada officially in a technical recession?

08:36 Could the SpaceX IPO become the biggest IPO in history?

10:59 Why could index-rule changes force huge SpaceX buying?

CONNECT WITH ANDREW SARNA

Website | LinkedIn

Off the Charts Newsletter 

CONNECT WITH VANESSA HUI

Website | LinkedIn 

This podcast is for informational purposes only and does not constitute investment advice. Views expressed are those of the speakers and should not be relied upon for investment decisions.