The private credit headlines of late 2025 spooked some retail investors — but were they telling the full story? Dustin Reid sits down with Northleaf Vice Chair James Cowan to break down what went wrong and why institutional investors kept putting money in.

Then, Prerna Mathews joins the conversation to unpack what it means for advisors and their clients. From the "four T's" of manager selection to sectors positioned for long-term growth, this is a practical conversation for any investor navigating private markets right now.

The Strait of Hormuz is dominating financial headlines but screen prices are telling a different story. Dr. Amrita Sen of Energy Aspects joins host Dustin Reid to explain why physical cargo markets are trading ten to fifty dollars above published crude benchmarks, what that divergence means for gasoline, diesel, jet fuel, and LNG, and why a reopening of the strait would not restore flows anywhere near pre-conflict levels.

Dustin and Prerna Mathews close with the portfolio implications: real assets, inflation-linked bonds, and a higher-for-longer rate environment well into 2027.

Marko Papic, Chief Strategist at BCA Research, joins host Dustin Reid to unpack why oil and energy markets have reacted differently than broader global equities. He explores what geopolitical tensions, sticky inflation, and the AI capex boom could mean for markets. Later, co-host Prerna Mathews joins in to discuss the implications for advisors building resilient portfolios.

What happens when Fed independence isn't a given? Jens Nordvig (Founder & CEO, Exante Data; Co-Founder & CEO, MarketReader) joins Dustin Reid and Prerna Mathews to unpack the collision of politics, the courts, and the central bank. They discuss what it could mean for rates, the dollar, and broader risk appetite as challenges to the Fed’s independence intensify. Dustin and Prerna close with investment takeaways: how to think about AI exposure beyond mega-cap tech, and why global diversification and FX hedging may matter more in the next regime. Tune in for macro risks, cross-asset signals, and portfolio implications. 

This episode was recorded on February 24, 2026. 

In this episode, Joseph Briggs, economist at Goldman Sachs, joins Dustin Reid to pressure-test the “AI bubble” debate from a top-down macro lens. They examine how big the buildout really is once you scale it properly, why the headline GDP boost can be easy to misread, and what early signals (and non-signals) to watch in productivity and the labour market. The takeaway: What to watch in the data before you change risk budgets. 

This episode was recorded on January 20, 2026. 

Brent Donnelly of Spectra Markets and author of Alpha Trader joins Dustin Reid to unpack how market narratives form, shift, and ultimately drive price action across global macro. He shares practical insight into managing confirmation bias, curating information flow, and staying agnostic in fast-moving markets. Brent also discusses how he uses technical analysis as a risk-management tool rather than a signal generator. The conversation closes with his outlook on major FX pairs, including Canada and Japan, as we head into 2026. 

This episode was recorded on November 25, 2025. 

From deficits to defense spending, Ali Jaffery of CIBC Economics joins Dustin Reid to assess the government’s fiscal plan and its market implications. They examine the fine balance between stimulus and discipline—and what it tells investors about the next phase of Canada’s economic cycle. 

This episode was recorded on November 5, 2025. 

In this episode, Steve Englander, Global Head of G10 FX Strategy and North American Macro Strategy at Standard Chartered Bank, discusses the evolving US macro landscape heading into Q4. He examines the Fed's recent rate cut, the implications of rising productivity on the neutral rate, and the early impact of AI on the labour market. Steve shares his views on US dollar positioning, potential challenges to Fed independence, and downside risks to Canadian growth and currency performance. He also addresses the durability of the current carry trade environment and the broader implications of policy-driven market volatility.

This episode was recorded on September 30, 2025.

In this episode, Tim Jones, Lead Policy Analyst at Medley Advisors, discusses the European Central Bank's rate outlook against a backdrop of shifting macro conditions and rising downside risks. He explores how currency moves and commodity prices could fuel disinflation, the fragility of services inflation, and what might trigger further policy easing. Tim also examines the EU's widening fiscal and political cracks within the EU, growing fiscal divergence between Germany and France, and the potential impacts of transatlantic relations with the US. Tim concludes with insights on European bond issuance and the structural shifts investors should watch for in the quarters ahead. 

This episode was recorded on August 13, 2025.