The 10-Minute Take

North American producers have struggled to match the historic collapse in demand. One option is “shut and swap” – an idea that would see governments buy future production so oil companies can “smooth” their revenue and plan output with more confidence. Do Ottawa and Washington have the political stomach for that kind of risk? Greg Pardy, RBC's Co-Head of Global Energy Research, joins our podcast to share his proposal.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

The big U.S. banks have set aside massive loan loss provisions as they prepare for the worst of the COVID crisis. European banks begin to report earnings this week and are expected to do the same. Yet markets have not lost confidence in the world’s biggest banks the way they did in the global financial crisis. Gerard Cassidy, RBC Capital Markets' Head of U.S. Bank Equity Strategy, joins us on the podcast.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

On the 50th anniversary of Earth Day, sustainability may seem like the last thing on a troubled market’s mind. And yet, through the crisis, ESG-focussed investments have outperformed the market, and may be positioned to excel as governments design the biggest stimulus investments in history. Lindsay Patrick, RBC Capital Markets' Head of Sustainable Finance, joins us to discuss how sustainability will shape the post-crisis rebuild.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

For the first time, the price of West Texas Intermediate on futures markets plunged into negative territory. It’s the market sending oil producers a message: “We’re awash in oil. Please shut in production.” RBC Capital Markets’ Energy Strategist Michael Tran joins us on the podcast to explain what it means for global markets as well as Canadian production.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

The global pandemic has roiled financial markets and changed the game for investors. For the past several weeks, investors have been tested on multiple fronts: lower risk premiums thanks to unprecedented central bank stimulus, disrupted business models, and their own emotions. Stu Kedwell, RBC Global Asset Management’s Co-Head of North American Equities, joins us on the podcast to share his perspective on how investment strategies are changing amid the crisis.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

Wednesday saw the release of startling economic numbers, particularly Canada's GDP down 9% for March. That's not the only figure in decline - national home sales are also down 14%. Prices, however, have remained relatively stable as supply dropped in proportion to demand. RBC Senior Economist Robert Hogue joins our podcast to discuss the outlook on housing.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

Amazon’s stock surged this week, hitting a new all-time high on Tuesday. The latest spark: Online shopping for basics like groceries is so intense that Amazon announced plans to hire 75,000 more workers, on top of the 100,000 it’s already added in the crisis. And it’s not the only one thriving in the face of dramatic shifts in consumer behaviour. Mark Mahaney, RBC Capital Markets’ Internet analyst, joins our podcast to talk about how the pandemic is leading to enduring changes in the way we shop – and how other Big Tech players like Google and Facebook may fare.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

This may be the darkest quarter on record for the Canadian economy. Our consumer-driven economy could make a rebuild even tougher, as we all tend to our wounds and avoid public places for months to come. As GDP declines and unemployment reaches unprecedented levels this quarter, it may be hard to spot silver linings. But come 2021, low interest rates and pent-up demand should get growth headed back to normal. RBC's Chief Economist Craig Wright joins our podcast to discuss his latest macro forecast.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

Global markets have rarely seen the volatility they endured in March, but in recent days a degree of calm has returned. One big reason is the Fed's quiet role in extending liquidity lifelines to countries around the world, essentially doing for them what central banks everywhere are trying to do for their own economies. Elsa Lignos, RBC's Global Head of FX Strategy, explains how the Fed restored temporary calm – and what lies ahead for markets that are still in the depths of a global pandemic.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.

The race is on for vaccines and treatments for COVID-19. Brian Abrahams, RBC’s Co-Head of Biotechnology Research, has some hope based on what he’s seeing but cautions we’re “in the early innings.” A vaccine is probably not realistic before 2021, he warns. And treatments – antivirals and anti-inflammatories, especially – could be months away. The efficacy of treatments could also vary widely across populations, just as we’re seeing with the virus. A magic bullet for curing coronavirus “is probably wishful thinking.” Even so, the availability of treatments, along with other measures, may slow infections, reduce their severity and enable some return to normalcy.

For more insights about social, economic and technological trends, visit rbc.com/thoughtleadership.