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In the News 2022

06.13.22
The Wall Street Journal
'Earnings Are Under Threat, Another Blow to Sagging Stock Market'

“Time is not the friend of profit margins in an inflationary environment,” said David Donabedian, chief investment officer at CIBC Private Wealth US. “At some point your customers are going to no longer be willing to pay the next price increase.”

06.13.22
Barron's
'Energy Stocks Are Set to Get Hotter. 6 That Can Get You a Piece of the Gusher.'

“We don’t want to need crude, but people are starting to realize that not wanting to need it is different than not needing it,” says Rebecca Babin, senior energy trader at CIBC Private Wealth US. “And I do think investors have come around to that, as well.”

06.13.22
MarketNews
'Muni Yields Rise, Short USTs Skyrocket after Hot CPI Report'

With Friday's Consumer Price Index report, the "prospects for a quick slowdown in the rate of inflation have faded," said Gary Pzegeo, head of fixed income at CIBC Private Wealth US. 

He said the Fed will likely hike interest rates by 50 basis points and "provide forward guidance for a more rapid move toward and above neutral than previously expected."

"Persistent inflation in the services sector could lead the Fed to anticipate a need for a higher endpoint in the policy rate," Pzegeo said. "Markets have already moved to discount a 3% Fed Funds rate by the end of 2022 and the Fed will likely show a similar sentiment in their updated Dot Plot."

06.09.22
Bloomberg
'Oil Tops $120 as US Inventory Data Highlights Fuel Supply Crunch'

This week’s government inventory report showed “improvement in implied gasoline demand back to 5- year averages,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. “Both technical and fundamental factors read positive this morning,” she said, noting WTI appears to be holding $120, a level it’s failed to maintain over the past week

06.07.22
Bloomberg
'Oil Reverses Earlier Losses to Rise as Dollar Pares Gain'

“The tone to the market is to buy dips and use weakness to get long or cover short as the set up into summer remains very tight especially on products,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

Generally, analysts are raising crude forecasts even as global GDP numbers are revised lower because of oil supply shortages expected for the rest of the year, CIBC’s Babin said. Still, “I am concerned US demand will not live up to expectations and we will see demand destruction here.”

05.25.22
Bloomberg
'Oil Fluctuates as US Fuel Stockpiles Fall Less Than Expected'

“It was not a bad report, it was just not quite good enough,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. “The bottom line here is that expectations for draws are high and this report just did not quite deliver enough for crude to keep accelerating higher.”

05.20.22
Business Insider
'US stocks close mixed after the S&P 500 slides into a bear market amid recession fears'        
"Another week of incredible market volatility makes it increasingly clear that a 'buy the dips' strategy is somewhat treacherous," David Donabedian, chief investment officer of CIBC Private Wealth US, said in a Friday note.

"Real-time economic data for May is beginning to show warning signs that the economy is slowing down. The markets are processing the rising risk of recession, which is one reason the equity market is fragile," he said.

05.18.22
Bloomberg
'Oil falls as US to Allow Talks with Venezuela's State Producer'

The proposed changes to alleviate some sanctions against Venezuela “should be seen as positive development, but not be mistaken as providing immediate relief to the tight market we are experiencing in real time,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management

05.16.22
Morningstar
'North American Morning Briefing: Stock Futures Dip as Weak Chinese Data Drags'

"We are moving into a more challenging time for markets. We need to see signs that inflation is not just peaking but actually decelerating before you find a sustainable bottom in the market. That is going to take at least a couple of months," said David Donabedian, chief investment officer at CIBC Private Wealth.

"That doesn't mean we won't have counter-rallies higher from day to day, but I think this is a long drawn-out process and it is largely data-driven," he said.

05.16.22
Bloomberg
'Stocks Decline on Growth Concerns; Treasuries Gain: Markets Wrap'

“You’ve got investors pulling back from the market in the expectation that we’re going to have a recession,” David Donabedian, chief investment officer of CIBC Private Wealth Management, said by phone. “It’s hard to, frankly, make a strong argument against that, the idea that we’ll have a recession. We know that that’s what Federal Reserve tightening produces most of the time, it’s a recession. And so you have to have a good answer to the question of why would this time be different, and it’s not that easy to come up with that answer, frankly.”

05.16.22
Bloomberg
'Bitcoin's Plunge Exposes Idea of Uncorrelated Asset as 'Big Lie''

“I think it will continue to trade with the equity market and risk assets,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “That’s the big lie that’s been exposed, the idea that it’s some new asset class that’s going to help diversify your portfolio has been blown to smithereens.”

05.11.22
Bloomberg

Oil is experiencing one of its most tumultuous trading periods ever as the war in Ukraine and the ensuing sanctions against Russia push volatility to historic levels. The oil market hasn’t been “consistent at all as of late,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. “Trading crude right now is like trying to figure out the mood swings of a teenager.”

05.06.22
Reuters
'Wall St falls as rate hike fears overshadow strong jobs data'

"Nothing in today's employment report would change the Fed's expected path ... current market sentiment does not place a lot of confidence in the Fed getting inflation under control without a recession," said David Donabedian, chief investment officer of CIBC Private Wealth US. "We suspect this skepticism is likely to remain until there is clearer evidence that inflation has crested and has begun to fall appreciably. That could take several months."

04.26.22
Markets Insider
'China's CSI 300 stock index falls to 2-year low as widespread COVID-10 lockdowns dent economic outlook'

"China's zero-COVID policy may turn into a zero-growth policy," David Donabedian, chief investment officer of CIBC Private Wealth US, in a note Monday. "China plays a huge part in the global supply chain, so closing factories and ports has created a shortage mentality that is front and center in the financial markets right now."

04.26.22
The Washington Post
'Dow sinks 200 points, oil prices slide amid fears of economic slowdown'

"China plays a huge part in the global supply chain, so closing factories and ports has created a shortage mentality that is front and center in the financial markets right now," said David Donabedian, chief investment officer at CIBC Private Wealth U.S.

04.25.22
MarketWatch
'China’s latest COVID outbreak spooks investors, and U.S. cases and hospitalizations are rising again'

"China’s zero-COVID policy may turn into a zero-growth policy," said David Donabedian, chief investment officer of CIBC Private Wealth US with $98 billion in assets under management. "China’s economy had been growing, but lockdowns are weakening that economy and raising global concerns. China plays a huge part in the global supply chain, so closing factories and ports has created a shortage mentality that is front and center in the financial markets right now," he said.

04.25.22
Barron's
'The Dow Rebounded, Twitter Jumped—and What Else Happened in the Stock Market Today'

"China’s economy had been growing, but lockdowns are weakening that economy and raising global concerns," wrote David Donabedian, chief investment officer of CIBC Private Wealth US. "China plays a huge part in the global supply chain, so closing factories and ports has created a shortage mentality that is front and center in the financial markets right now."

04.20.22
Barron's
'The Nasdaq Closed in the Red, the Dow Rose—and What Else Happened in the Stock Market Today'

"Today is a risk-on day, barring the sub sectors which have had bad news from bellwether companies," said David Donabedian, chief investment officer of CIBC Private Wealth US. "The breadth data [percent of stocks gaining] suggests that."

04.20.22
Bloomberg
'Oil Settles Little Changed as Low Supplies Offset Cloudy Outlook'

"Price action tells us two things: first, macro traders are firmly in control of crude markets at the moment," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. "Secondly, that the narrative of tight physical markets is stale and may not be able to induce momentum to the upside in the near term."

04.14.22
Bloomberg
'Stocks Drop, 30-Year Yield Hits Highest Since 2019: Markets Wrap'

"It’s a tough environment," said David Donabedian, chief investment officer of CIBC Private Wealth Management. "Inflation numbers are going to stay very high and haven’t peaked yet, and we’re also going to start to see a deteriorating outlook for economic growth -- not a recession, but significantly slower economic growth than certainly we’d anticipated as the year began."

04.14.22
Morningstar
'EUROPEAN MIDDAY BRIEFING - Stocks Steady as ECB Eyed for Clues on Unwinding Timeline'

"Investors are trying to figure out if the Fed is on the right course. Can they stick the landing in terms of bringing inflation down without bringing the economy down?" said David Donabedian, chief investment officer at CIBC Private Wealth. Read.

04.13.22
The Washington Post
'Biden to announce plan to ease gas prices as inflationary pressures persist'

"The Biden administration allowing the sale of higher ethanol gas to tame costs is a political gesture more than a real solution," said Rebecca Babin, senior energy trader at CIBC Private Wealth U.S., in a statement. "The impact will be minimal from the perspective of medium term price relief. But it serves as another talking point from the Biden administration as to how they are helping Americans fight inflation."

04.12.22
Barron's
'Biden Set to Allow Higher-Ethanol Gas to Be Sold Over the Summer'

Rebecca Babin, senior energy trader as CIBC Private Wealth US, called the Biden administration’s move "a political gesture more than a real solution." "E15 reduces the cost per gallon by about 10 cents. It also creates more pollution and requires more frequent fill-ups," Babin said. "So the impact will be minimal from the perspective of medium-term price relief. But it serves as another talking point from the Biden administration as to how they are helping Americans fight inflation," Babin added.

04.12.22
Bloomberg
'Why Biden's Plan for Cheaper Gasoline Can Also Mean More Smog'

"Biden’s expansion for E15 will have the biggest impact in the Midwest, where prices could decrease as much as 10 cents," Rebecca Babin, senior energy trader at CIBC Private Wealth Management, said in a Bloomberg TV interview.

04.10.22
Fox Business
'Gold prices higher in early Asian trading Monday'

"The CPI report will be the economic event of the week," David Donabedian, chief investment officer of CIBC Private Wealth US. "We expect inflation to surge above 8%. We know the commodity component will spike and will be paying particular attention to the core inflation rate, particularly services and shelter." Read.

04.10.22
Barron's
'Profit Margins Will Be Down in Earnings Season. When Buying Beaten-Up Stocks Makes Sense.'

"You’re setting up for an earnings season that needs to be good, both in terms of the numbers that come in and the forward guidance," says Dave Donabedian, chief investment officer of CIBC Private Wealth US. "The bar is set high. It’s going to be tough to clear the bar."

04.09.22
Fortune
'Wall Street is predicting a 2023 recession. Here are the red flags you should know about'

Gary Pzegeo, the head of fixed income at CIBC’s U.S. Private Wealth division, told Fortune that he believes the majority of current recession predictions come from "market signals" like the recent, albeit brief, inversion of the yield curve. Read.

03.22.22
Bloomberg
'Crude Swings in $5 Range as EU Considers Sanctioning Russian Oil'

Low liquidity is a "logical response to the increase volatility and margins and most importantly the uncertainty around political outcomes," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. "Market participants have realized they have very little edge in calling political end games and don’t want to keep getting chopped up trying."

03.15.22
Fortune
'Gas prices are already expected to top $5 a gallon, but experts lay out a scenario that could be much worse'

"We’re not really building the gasoline stockpiles that we would typically see in the shoulder season to prepare us to have a lot of supplies in place for summer. That means that when summer comes and people start driving more, we’re going to have a harder time meeting that demand and prices will go up," said CIBC Private Wealth U.S. senior energy trader Rebecca Babin. Read.

03.15.22
GOBankingRates
'Oil Prices Drop Below $100 — Will Gas Prices Decrease Too?'

"Today’s action reflects a shift in sentiment in Russia/Ukraine causing sentiment traders to sell," said CIBC Private Wealth U.S. senior energy trader Rebecca Babin. Read.

03.15.22
CNBC
'Oil drops again, now more than 27% below recent high'

"It’s really a market that traded entirely on fear," Rebecca Babin, senior energy trader at CIBC Private Wealth U.S., said of the initial spike higher amid supply fears. Read.

03.15.22
The Wall Street Journal
'Oil Slides Below $100, Stock Futures Edge Higher'

"The headlines that Covid is swirling throughout China is something else that stokes uncertainty in global markets because it adds to concerns about supply chain disruptions," said David Donabedian, chief investment officer at CIBC Private Wealth.

03.14.22
CNBC
'U.S. oil tumbles more than 8%, dips below $100 per barrel'

"Rebecca Babin, senior energy trader at CIBC Private Wealth U.S., attributed the declines to a mix of geopolitical and demand factors. Russia and Ukraine were slated to resume peace talks on Monday, while China’s March demand is set to be revised lower due to new coronavirus lockdowns. Additionally, open interest in Brent futures has dropped, which means financial players are reducing risk. “Today’s action reflects a shift in sentiment in Russia/Ukraine causing sentiment traders to sell, fundamental concerns around demand coming from China’s Covid lockdowns causing fundamental traders to take profits, and technical pressure as crude breaks” key levels, said Babin".

03.14.22
ETF Database
'Crude Oil Dumps on Demand and Ukraine Worries'

"Today’s action reflects a shift in sentiment in Russia/Ukraine causing sentiment traders to sell, fundamental concerns around demand coming from China’s Covid lockdowns causing fundamental traders to take profits, and technical pressure as crude breaks" key levels, explained Rebecca Babin, senior energy trader at CIBC Private Wealth U.S. Read.

03.14.22
Bloomberg
'Oil Falls to $100 With Ukraine-Russia Talks and China Lockdowns'

The negotiations between the two countries are driving prices lower in the near term as markets are "much more sensitive to sentiment than actual supply and demand calculation," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

03.11.22
Barron's
'The Stock Market Tried to Look Past Russia’s War on Ukraine. It Still Got Crushed.'

"There’s been a sense of normalcy in recent days," says Dave Donabedian, chief investment officer at CIBC Private Wealth U.S. "What we don’t know is whether this is a countertrend trade that will flame out or if it is the beginning of stabilization."

03.11.22
Barron's
'The Stock Market Tried to Look Past Russia’s War on Ukraine. It Still Got Crushed.'

"There’s been a sense of normalcy in recent days," says Dave Donabedian, chief investment officer at CIBC Private Wealth U.S. "What we don’t know is whether this is a countertrend trade that will flame out or if it is the beginning of stabilization."

03.11.22
Barron's
'Stocks Are Full of Fear. How to Cope With an Emotional Market.'

"[The Fed] went through a fairly tortuous process late last year to pivot to a position of saying inflation-fighting is job No. 1," says Dave Donabedian, chief investment officer of CIBC Private Wealth Management. "To pull back from that now would be a significant problem that might even cause a confidence issue in the markets, if the Fed looks like a weather vane."

03.11.22
Bloomberg
'Muni Market Goes Begging for Buyers in Worst Quarter Since 1994'

"The overarching driver is fund outflows," said Christopher Lanouette, a managing director for CIBC Private Wealth Management. "You’re getting obvious pressure from fund managers who have to meet redemptions."

03.10.22
Bloomberg
'A Rising Profit Outlook for Tech Stocks Is No Match for Economic Angst'

Bryan Reilly, a portfolio manager and senior investment analyst for CIBC Private Wealth Management, is among investors who are taking a cautious approach in light of risks to the economy. "I don’t see anything derailing earnings growth over the next 18 months, but there’s still a lot of uncertainty and valuations remain above average," he said in an interview. "It will take time to be sure that, going into mid-2022, consumer spending won’t retrench and that there is a reason to be confident about tech earnings."

03.10.22
Barchart
'Analysts Remain Optimistic On Technology Sector'

CIBC Private Wealth Management is optimistic but cautious about technology company earnings going forward. CIBC says that they “don’t see anything derailing earnings growth over the next 18 months, but there’s still a lot of uncertainty, and valuations remain above average. It will take time to be sure that, going into mid-2022, consumer spending won’t retrench and that there is a reason to be confident about tech earnings.”

03.08.22
Bloomberg
'Oil Extends Gains With U.S. and U.K. Banning Russian Imports'

The formalized sanctions imply a "drawn out conflict" and will have "massive implications" for the energy market long term, said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

03.07.22
Bloomberg
'Traders Surrender to Recession Paranoia in Stock Market Rout'

"Prospects for growth have to be marked down and that risk of recession has to be marked up. If oil goes to $125 or higher and stays there for six months, you’re going to have a recession in Europe just because of their ultra-high sensitivity to Russian imports," David Donabedian, chief investment officer of CIBC Private Wealth Management, said by phone.

03.06.22
CNBC
'U.S. crude oil spikes to 13-year high of $130 overnight, then gives up most of that gain'

"Crude is coming off the highs following comments from Germany saying they have no plans to halt Russian energy imports, indications that the US is exploring replacement barrels from Venezuela and Saudi Arabia," said CIBC Private Wealth U.S. senior energy trader Rebecca Babin.

03.04.22
Yahoo! Finance
'Russia-Ukraine crisis: What can prevent $150 oil prices'

"I think there is a thought that the only thing that stops the rally now is demand destruction. We don't see that happening until $125 or even higher. I think that's very much a conceptual, theoretical view," said CIBC Private Wealth U.S. senior energy trader Rebecca Babin on Yahoo Finance Live.

03.03.22
Bloomberg
'Oil Rally Eases on Prospects of Iran Deal After Nearing $120'

“The market is selling off due to hopes of Iran deal coming in the next few days along with comments from Germany that they do not want to put an embargo on Russian crude,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. “But the selloff is fairly shallow because the market is self-sanctioning Russian crude and effectively taking 3 million barrels of crude off the market.”

03.02.22
The Guardian
'US and 30 allied countries to release 60m barrels of oil amid price surge'

However, Rebecca Babin, senior energy trader at CIBC Private Wealth, said that while the move was expected, it could offer a "modest buffer in the short term."

03.01.22
CNBC
'U.S. oil price surges 11% to $106 a barrel, a 7-year high prompted by Russia’s assault on Ukraine'

Rebecca Babin, senior energy trader at CIBC Private Wealth, noted that while the move was expected it could offer a "modest buffer in the short term. It is not meaningless, it simply pales in comparison to a true supply disruption from Russia," she said.

02.27.22
The Wall Street Journal
'Investors Bet Oil Still Has Room to Run After Touching $100'

"The speed of the moves is actually what scares me the most," said Rebecca Babin, senior energy trader at CIBC Private Wealth, U.S. She expects oil to soar if even more punitive measures are imposed on Russian energy companies and banks. The current sanctions still allow payments for Russian energy exports to continue through some unsanctioned financial firms.

02.24.22
MarketWatch
'Why Russia’s invasion of Ukraine may lift oil prices to a 14-year high'

"Russia’s crude benchmark, known as the Urals oil grade, were trading at a $9.80 a barrel discount to Brent crude as of late Thursday morning as buyers are wary of holding Russia crude that may end up being sanctioned," said Rebecca Babin, senior energy trader at CIBC Private Wealth US.

02.24.22
Bloomberg
'Oil Soars Over $100 as Russia Attacks Targets Across Ukraine'

"Prices came off of their highs as traders look to another potential release from the strategic reserve and more Iranian barrels added into tight market. There is going to be a place in which those two things balance out and that place will be a price," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

02.16.22
Bloomberg
'Oil Rises as Investors Weigh Ukraine Crisis, Rising Fuel Demand'

"Without solid evidence of a Russian troop pullback, the narrative that cooled off prices yesterday has shifted back to the potential for escalation," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

02.14.22
Yahoo! Finance
'Stock market news live updates: Stocks drop as Russia-Ukraine conflict concerns rise'

"The market has been concerned about this outcome for several weeks but most believed it would not occur or would at least be after the Olympics," noted CIBC Private Wealth’s Rebecca Babin. Read.

02.13.22
The Washington Post
'Stocks sink as high inflation, Ukraine worries jolt markets'

"The CPIO report confirmed that inflation hasn’t peaked yet and raised the prospects that the Fed is behind the curve, which they are. That’s bound to create angst in the equity markets about what the Fed will need to do to catch up," said David Donabedian, chief investment officer of CIBC Private Wealth Management.

02.11.22
CNBC
'Oil jumps amid escalating tensions between Russia and Ukraine'

"The market has been concerned about this outcome for several weeks but most believed it would not occur or would at least be after the Olympics," noted CIBC Private Wealth’s Rebecca Babin. "The key consideration for crude will be what kind of sanctions the US and allies move forward" should Russia invade. Read.

02.11.22
Seeking Alpha
'Defense names pop on fears of imminent Russian invasion of Ukraine'

"The market has been concerned about this outcome for several weeks but most believed it would not occur or would at least be after the Olympics," CIBC Private Wealth's Rebecca Babin told CNBC.

02.11.22
Daily Mail
'Oil spikes 5% to hit $94.66 per barrel - the highest level since September 2014 - amid rising tensions between Moscow and the Ukraine: US security advisor warns Russia could invade at any time'

"The key consideration for crude will be what kind of sanctions the US and allies move forward should Russia invade. That is what will ultimately determine how crude supply is impacted," Rebecca Babin, of the CIBC Private Wealth investment firm, told CNBC.

02.11.22
Bloomberg
'Stock Market Quest to Stand Firm Against Everything Comes Apart'

"The bull market is sustained because we’re going to have strong economic growth and decent earnings growth. There’s nothing about the level of interest rates over the next couple of years that says, Oh clearly that’s the road to a bear market," David Donabedian, chief investment officer of CIBC Private Wealth Management, said by phone.

02.11.22
Barron's
'The Stock Market Dropped Because There’s Something Scarier Than Rate Hikes'

The market discounts things before they actually happen, points out CIBC Private Wealth Management Chief Investment Officer David Donabedian. He was feeling optimistic about the market because demand was holding up. Coming into Friday, Donabedian believed investors had "increased confidence that economic growth is going to be good and earnings growth is going to be solid."

02.11.22
Barron's
'Consumer Sentiment Falls to Worst Level in a Decade'

"The American consumer is in a foul mood. The source of that negativity is inflation. There’s also an indication that was a reaction to the decline in the stock market in January." David Donabedian, chief investment officer of CIBC Private Wealth US, told Barron’s. 

02.08.22
Barron's
'Tech Stocks Are Bouncing Back. Here’s Why.'

"Despite the headlines on Meta and other visible tech companies, fourth quarter earnings for the sector are coming in really well," said Dave Donabedian, chief investment officer of CIBC Private Wealth Management.

02.08.22
Bloomberg
'Oil Drops on Optimism Over Easing Tensions in Eastern Europe'

"A lot of the geopolitical risk is priced in to crude currently so any progress, even small, could take a bit of that premium out of the price. It will not induce a massive sell off unless something concrete happens but if things are not getting worse crude starts to fade off the highs," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

02.08.22
Barron's
'Stocks Defied Those Climbing Bond Yields. Big Tech Went on a Roll—and What Else Happened in the Market Today.'

"With the inflation rate where it is, it makes sense to me that you have a rising 10 year yield," said Dave Donabedian, chief investment officer of CIBC Private Wealth U.S.

02.02.22
MarketWatch
'A few more stock pullbacks, and then a big one, are coming, warns this manager. Here’s how investors should prepare.'

"We enter 2022 with relatively high valuations, a 7% inflation rate in the U.S. and the three greatest catalysts for the great bull markets coming out from March 2020, through 2021," David Donabedian told MarketWatch in an interview on Monday.

01.26.22
CNBC
'Global oil benchmark tops $90 for the first time since 2014'

"Each day that passes without a de-escalation, we could see more of a supporting bid to crude," said CIBC Private Wealth’s Rebecca Babin.

01.26.22
Bloomberg
'Brent Rises to Highest Since 2014 Amid Geopolitical Tensions'

"Anyone who has not participated in the 'energy' rally may start to really feel the need to get exposure," which may nudge the market a leg higher, said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

01.25.22
The Wall Street Journal
'Stock Futures Fall in Wake of Turbulence on Wall Street'

"We have gotten so used to this cycle of companies blowing the roof off of earnings expectations, but so far that is not happening," said David Donabedian, chief investment officer at CIBC Private Wealth.

01.21.22
The Bond Buyer
'Rough first three weeks of 2022 land munis in the red'

Given the Fed’s desire to end tapering before raising rates, Gary Pzegeo, head of fixed income at CIBC Private Wealth U.S., said, "we don’t expect a policy move at the January meeting."

01.21.22
Bloomberg
'Oil Caps Fifth Weekly Gain After Touching Its Highest Since 2014'

While commodities have been extremely resilient at the start of the year due to supply risks and geopolitical concerns, they won’t "continue to be completely insulated," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management.

01.19.22
Bloomberg
'Oil Hits Fresh Seven-Year High on Outlook for Resurgent Demand'

"The market has already priced in a tighter market in 2022, and the IEA and other agencies are just catching up to that," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. Oil could still extend its rally as "event risks in a tight market can cause outsized moves to the upside."

01.12.22
The Wall Street Journal
'Dow Closes Lower as Bank Stocks Fall'

"We expect a more volatile environment, with big up days and big down days. Perception of inflation will be a driving force in the direction of the market," said David Donabedian, chief investment officer of CIBC Private Wealth US, adding that "it will be a bumpy ride."

01.12.22
Bloomberg
'Oil Gains as U.S. Crude Stockpiles Drop to Lowest Since 2018'

"Crude is trading with rose-colored glasses," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management, with investors focused on the more bullish aspects of the EIA report, such as the Cushing draw versus the slightly softer implied demand. "The fundamentals and technicals support this for now."

01.10.22
Bloomberg
'Munis’ Worst Annual Start Since 2001 Imperils ‘January Effect'

"The Fed has thrown a monkey wrench into the whole January effect," said Christopher Lanouette, a managing director for CIBC Private Wealth Management. He said he’s reducing exposure to the 8- and 10-year part of the muni curve to prepare for rising rates.

01.06.22
Yahoo! Finance
'Oil Gains as North American Freeze, OPEC+ Constraints Hit Supply'

Oil "is fueled by demand holding up well in the face of omicron, supply disruptions, OPEC+ spare capacity concerns and, most importantly, sentiment. It feels like we are setting up for a blow off to the upside," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. Read.

01.05.22
Financial Advisor
'Bitcoin Declines To Lowest Level Since December's Flash Crash'

"It’s a speculative investment and volatility is going to be a constant there," David Donabedian, chief investment officer of CIBC Private Wealth Management, said by phone.

01.05.22
Reuters
'Stocks slump, Treasury yields rise on fear of a faster Fed pullback'

"Today's FOMC minutes make clear that discussions about more than three rate hikes and outright quantitative tightening this year are on the table," Dave Donabedian, chief investment officer for CIBC Private Wealth, U.S., said in an email.

01.05.22
Bloomberg
'Bitcoin Declines to Lowest Level Since December’s Flash Crash'

"It’s a speculative investment and volatility is going to be a constant there," David Donabedian, chief investment officer of CIBC Private Wealth Management, said by phone.

01.05.22
Bloomberg
'Tech Stocks Extend Selloff as Yields Stay Elevated: Markets Wrap'

"Just because we have a new year doesn’t mean conditions for the market change, and obviously the market finished a great year on a strong note in December and it’s continued right into January. It’s the old law of physics that an object in motion tends to stay in motion until it meets an obstacle," David Donabedian, chief investment officer of CIBC Private Wealth Management, said by phone. 

01.03.22
Bloomberg
'Oil Rallies Ahead of OPEC+ Meeting to Discuss Output Policy'

Oil consumption is "remaining robust in the face of the omicron spread," said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. "Strong demand, along with below-normal inventories and supply disruptions in Libya, will likely compel OPEC+ to stay the course," she said.