What did markets earn over the summer—and what does the back-to-school season mean for investors? In this episode, host Hilly Cutler sits down with Matt Montemurro to assess how equities, bonds, and commodities performed over the past few months, where ETF flows are heading, and what key themes—from Fed rate decisions to the AI trade and upcoming mega IPOs—could shape the final quarter of 2026.
Hilly Cutler is Director of Portfolio Consulting and Senior Portfolio Consultant at BMO Global Asset Management (BMO GAM) and Matt Montemurro is Head of Fixed Income and Equity Index ETFs at BMO GAM. This episode was recorded live on Monday, September 14, 2026.
Funds mentioned:
· BMO MSCI EAFE Index ETF (ZEA)
· BMO MSCI Emerging Markets Index ETF (ZEM)
· BMO MSCI EAFE Hedged to CAD Index ETF (ZDM)
· BMO MSCI EAFE Small-Mid Cap Index ETF (ZESM)
· BMO Broad Commodity ETF (ZCOM)
· BMO Gold Bullion Hedged to CAD ETF (ZGLH)
· BMO Discount Bond Index ETF (ZDB)
· BMO Short-Term Discount Bond ETF (ZSDB)
· BMO Corporate Discount Bond ETF (ZCDB)
Source: Morningstar Direct, BMO Global Asset Management as at September 11, 2026
CPI: Consumer Price Index
FOMC: Federal Open Market Committee
EAFE: Developed markets in Europe, Australasia, and the Far East.
Emerging markets: Major economies and many smaller countries such as China, India, Brazil, South Korea, Taiwan, and South Africa.
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