02.17.23
The New York Times
'Why a Strong Economy Is Making Stock Investors Jittery'
“We had just got comfortable with what the Fed told us it was going to do two weeks ago, and already we are having to rethink that,” said David Donabedian, the chief investment officer of CIBC Private Wealth US, referring to the recent Fed meeting. “The momentum in the market has stopped.”

02.17.23
Bloomberg
'Oil Swings as Markets Parse China Demand, Oversupplied Market'
“It is not a surprise that crude has been stuck in its current trading range as the physical market remains well supplied while the imminent demand recovery in China keeps downside limited,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth. “The commodity is stuck in neutral as it tries to see which one of the market drivers will be most impactful over the next couple of months.”

02.13.23
Bloomberg Radio
'UK’s Child-Care Costs Under Examination'
Chief Investment Officer Dave Donabedian, CFA, recently appeared on Bloomberg Radio. Listen to his segment here 

02.13.23
yahoo! News
'China demand the ‘one thing to watch in crude oil,’ strategist says'
CIBC Private Wealth Senior Energy Trader Rebecca Babin joins Yahoo Finance Live to discuss news that Russia will cut 500,000 barrels of oil production a day, market sentiment, and the outlook for oil prices. Watch

02.11.23
Fortune
Exxon Mobil is plowing into energy trading and has everything it needs—except the right culture
It’s a “big shift in strategy for Exxon,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “It should be a very natural extension of their ongoing business, but the competition is fierce.” Read

02.11.23
Bloomberg
'Exxon’s Trading Ambitions Mean Culture Shift to More Risk-Taking'
It’s a “big shift in strategy for Exxon,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “It should be a very natural extension of their ongoing business, but the competition is fierce.”

02.10.23
MarketWatch
'Oil prices settle higher after Russia announces production cut of 500,000 barrels per day in March'
Rebecca Babin, senior energy trader at CIBC Private Wealth US, said most analysts have "already penciled in" Russian production falling by 700,000 to 900,000 barrels per day in 2023.
"The key for crude to break out of its current trading range is Chinese demand recovery," she said in emailed commentary.

02.10.23
MarketWatch
'Oil futures gain nearly 9% for the week'
Most analysts have “already penciled in” Russian oil production falling by 700,000 to 900,000 barrels per day in 2023, said Rebecca Babin, senior energy trader at CIBC Private Wealth US. “The key for crude to break out of its current trading range is Chinese demand recovery,” she said.

02.10.23
Reuters
'Oil prices rise over 2% on Russian plan to cut output' 
“Most analysts have already penciled in Russian production falling by 700,000-900,000 in 2023," said Rebecca Babin, senior energy trader at CIBC Private Wealth U.S. "The key for crude to break out of its current trading range is Chinese demand recovery." Read 

02.10.23
Bloomberg
'Oil halts three-day advance as caution counters the China bulls'
“The push-pull has been ongoing since the start of the year, leaving the commodity having trouble breaking out of its range,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth. “Positioning looks set up long, so data will be the driver of moves to the upside.”

02.06.23
Barron's
'Stocks Have Gotten Ahead of Themselves. The S&P 500 Could Struggle.'
“There’s an element of that “FOMO,’” or fear of missing out, said Dave Donabedian, chief investment officer of CIBC Private Wealth, U.S.

02.02.23
Bloomberg
'Oil Struggles as Traders Swap Commodities for Growth Stocks'
“Broadly, commodities have been down as the ‘growth’ trade gets reestablished,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “The move in rates and Fed posturing has triggered flows out of commodities and energy equities back into growth.”

02.01.23
CNN Business
'Will the Fed end the 2023 market rally?'
"At the conclusion of this week's FOMC meeting, we expect the Fed will leave the market hanging on the question of the future of rate hikes and how many we will see," Donabedian wrote in a note. "We expect the Fed to indicate they have more work to do. They will continue their stubbornness in fighting inflation, hesitant to declare victory just yet. This will leave the market hanging on the future of how many rate hikes we will see." Read

01.19.23
The Wall Street Journal
'Stock Futures Point to Further Losses on Recession Worries
“The housing market is clearly in a recession, the manufacturing sector is teetering on the edge of a recession. We are going into 2023 with a more cautious consumer and as the year progresses we will see some signs that the job market is faltering,” said David Donabedian, chief investment officer at CIBC Private Wealth US.
“We do think there are better than 50-50 odds of a mild recession in the U.S. and in other parts of the world this year,” he said.

01.18.23
Bloomberg
'Oil Extends Decline on US Recession Concern, Inventory Build'
“The macro picture is creating a lot of friction to the rally in crude, and it will be hard for the commodity to continue to outperform in the near term until we see concrete evidence that demand is China is accelerating or macro headwinds cool down,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management.

01.13.23
Bloomberg
'Crushed Crypto Funds Are Suddenly Beating Every Other ETF'
But good times in crypto are known to come and go, with the bad stretches sometimes persisting for a long time. Coins skyrocket when money is easy and get killed when things turn, says David Donabedian, chief investment officer of CIBC Private Wealth US.
“For something that has been absolutely clobbered and where you know there’s a significant component of speculative investors, they’re taking that and running with it,” he said of the recent rally. “But I go back to: it’s a speculative investment, and you better know what you’re doing — and you better be willing to be as quick a seller as you are a buyer.”

01.13.23
The New York Times
'Investors Are Walking a Tightrope as Stocks Head for a Second Weekly Gain'
“The last couple of days have shown the tug of war now characterizing market sentiment,” said David Donabedian, chief investment officer of CIBC Private Wealth US.

01.13.23
Bloomberg
'Stock Losses Fade as Economic Data Temper Earnings: Markets Wrap'
“It’s a back-and-forth market,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “I don’t really buy the intense gloom that some people have that it’s going to get much worse, or the other extreme that we’ve already started a new bull market. I don’t think we’re there yet either.”

01.06.23
Barron's
'If You Want Growth, Stick With Quality Stocks. How to Find Them.'
“You’ll need to cast a wider net to find the true quality growth stocks of the next decade,” says Dave Donabedian, chief investment officer of CIBC Private Wealth Management.

01.05.23
MarketWatch
'2-year Treasury yield jumps to five-week high as traders absorb hawkish Fed rhetoric'
“It looks like the bond market is priced for a quicker resolution to the inflation problem than the Fed is willing to accept,” said Gary Pzegeo, the Boston-based head of fixed income at CIBC Private Wealth US.
“Bond yields suggest that risks will shift from inflation to unemployment at some point this year, forcing the Fed to shift policy into easing mode,” Pzegeo said in an email. However, the Fed, in the minutes of its
December meeting, pointed out that no one on the policy-setting Federal Open Market Committee expects an ease in 2023.

12.19.22
Bloomberg
'Oil swayed by broader markets as traders assess China's pledge'
It’s another day of “fragile trading” where markets are bid following headlines from China reopening, said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “At the end of the day, conviction to buy the dip is still quite low.”

12.16.22
Yahoo! Finance
'China's reopening 'a sentiment positive' for oil, strategist says'
Senior Energy Trader Rebecca Babin recently appeared on Yahoo! Finance Live. You can watch her segment here

12.16.22
The Washington Post
'Stocks fall as recession overtakes inflation as market’s No. 1 worry'
“We started with inflation optimism in the early part of the week and then the market got a one, two, three gut-punch from central bankers,” said David Donabedian, chief investment officer at CIBC Private Wealth U.S. “Investors have concluded that there’s a good chance that a global recession is coming and central bankers just don’t care.”

12.16.22
Barron's
'The Fed Is Making a Mistake—and the Stock Market Will Pay the Price'
“Investors are concluding that a global recession is coming and central bankers don’t care,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US. “There is still an inflation problem and they need to work through it.”

12.16.22
Yahoo! Finance
'Stock market timers pony up $25 billion and get another thrashing
“The market had a really strong October and November, so you’ve got a little bit of trend-following by investors, and many perhaps thinking that this is the beginning of a new bull market,” David Donabedian, chief investment officer of CIBC Private Wealth US, said in an interview. “I think there is some more downside here.” Read

12.08.22
Forbes
'Unemployment Claims Highest Since February As Reports Of Major Layoffs Grow'
The latest data “does not scream recession,” David Donabedian, chief investment officer of CIBC Private Wealth US, said in emailed comments—but he also warned “the job market will falter” as the economy heads into a recession next year. Read

12.08.22
Barron's
'Oil Prices Were Set to Soar. Now They’re Falling Fast.'
These dynamics are occurring at a time when liquidity in the oil futures market has dried up, meaning that prices are likely to be more volatile. There are “not many traders left playing the game,” wrote Rebecca Babin, senior energy trader at CIBC Private Wealth U.S., in an email to Barron’s.

12.08.22
Bloomberg
'Oil Tumbles to Erase 2022 Gains on Easing Demand for Fuels'
“There is literally no risk appetite to buy the dip in crude right now,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “This is just snowballing into outsize moves.”

12.06.22
MorningStar
'EMEA Morning Briefing: Mixed Start Seen for Europe as Fed Path Worries Persist'
"The economy continues to show a degree of strength that I think was not expected," said David Donabedian, chief investment officer at CIBC Private Wealth US.

"The consumer is hanging in there quite well, jobs continue to be added, wage growth is significant and consumers are still spending." Read

12.06.22
Wall Street Journal 
'Stock Futures Waver After Strong Data Raises Rate Fears'
“The economy continues to show a degree of strength that I think was not expected,” said David Donabedian, chief investment officer at CIBC Private Wealth US. “The consumer is hanging in there quite well, jobs continue to be added, wage growth is significant and consumers are still spending.”

12.05.22
Bloomberg
'Oil Falls Below $80 Again as Rate-Hike Angst Batters Markets'
The noise surrounding headlines is keeping traders from engaging in the market, said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “Many have decided to tune out altogether. Volumes are light and positioning is decimated as it seems prudent to wait until 2023.”

12.03.22
Barron's
'The Murky Pricing Math Behind Europe’s New Oil Sanctions'
Recently, India and China have bought Russian oil that the U.S. and Europe have spurned, but they’re demanding as much as 25% off global market prices “Right now, 20% of the world’s oil is sanctioned,” says CIBC Private Wealth US analyst Rebecca Babin. “[That oil is] trading at various discounts. And they [sellers] are going to try to undercut each other to move those barrels.”
Russia shipped some 1.5 million barrels of crude per day to Europe before invading Ukraine. Today, Russia exports some 600,000 barrels daily to Europe, diverting most of the rest to Asia. Can the market absorb the 600,000 that Europe will ban on Dec. 5?
If it can’t, there’s a good chance prices will rise, because Russia will have nowhere to sell those barrels, and overall global supply will fall. When rising demand meets diminishing supply, prices have nowhere to go but up.
If big importers like China and India take delivery of Russian oil, they’re “much more likely to go after those dirty barrels” than to buy Brent crude [the global benchmark] at higher prices, Babin says. As sanctions mount, more buyers may get that choice, extending oil’s recent slump.

12.03.22
Forbes
'Not Just The Housing Market: Recession Threatens 'Unprecedented' Manufacturing Slowdown Dragging Into Next Year'
“Today’s job market report does not scream recession,” David Donabedian, chief investment officer of CIBC Private Wealth US, said in emailed comments Friday—before warning "the job market will falter" as the economy heads into a recession next year. Read

12.02.22
Bloomberg TV
'EU's $60 Price Cap on Russian Oil Won't Matter: Babin'
Senior Energy Trader Rebecca Babin recently appeared on Bloomberg TV. Watch her segment here.

12.02.22
Fox Business 
'US economy adds 263,000 jobs in November, better than expected as hiring remains solid'
"We don’t expect today’s jobs report to change the Fed’s near-term path," said David Donabedian, the chief investment officer of CIBC Private Wealth. "However, this inflation-unfriendly report likely changes how high the Fed will take rates, maybe raising rates higher than investors are prepared for and lifting expectations slightly for the peak Fed Funds rate in 2023." Read

12.01.22
Bloomberg
'Oil Rallies as Markets Expect Demand Recovery in China'
“Crude is riding the tailwinds of a sentiment shift regarding China’s Covid policy, the weaker dollar, and the risk asset rally,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “Crude volatility remains exceptionally high as we head into the weekend fraught with uncertainty; it has been a roller coaster of a week-- and the ride’s not done yet.”

11.29.22
Barron's
'Europe’s Russian Oil Cap and Ban May Have Unexpected Effect'
“Right now, 20% of the world’s oil is sanctioned,” said Rebecca Babin, senior energy trader at CIBC Private Wealth US. “Those are all trading at various discounts. And they’re going to try to undercut each other to move those barrels. I tend to think the more discounted barrels are available, the more this pushes down on WTI and Brent.” WTI stands for West Texas Intermediate, the U.S. benchmark for crude prices. Brent is the global benchmark.
The key question is if the Russian oil that Europe is banning will go to other countries, or be pulled off the market entirely, forcing Russia to slow oil production.
Russia exported about 1.5 million barrels of crude oil per day to Europe by ship before the war. Today Russia is exporting around 600,000 barrels to Europe, and it’s been able to divert most of the remainder to Asia from Europe. The question now is whether Asian countries can absorb the remaining 600,000. If they can’t, there’s a good chance oil prices will rise after Dec. 5, because demand will exceed supply. If they can, then the same number of barrels will be floating around the world, just at lower prices.
If large oil importers like China and India can work out a system to take delivery of Russian oil, they are “much more likely to go after those dirty barrels” than to buy Brent crude at higher prices, Babin said.

11.18.22
Bloomberg
'Oil Sinks as Ominous Demand Signals Gather on Multiple Fronts'
Crude bids have collapsed as the reality sets in that Chinese demand most likely gets worse before it gets better, said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “Front month time spreads -- the backbone of tight markets -- are the weakest they have been since March 2021 signaling demand concerns are real and investors should be cautious when buying the dip.”

11.03.22
Insider
'US stocks continue to fall as investors digest hawkish Fed outlook while jobs report looms'
"Indicating that the Fed expects to extend its horizon for continuing to raise interest rates, Powell warns that the long slog will continue," said David Donabedian, chief investment officer at  CIBC Private Wealth. "Powell threw a wet blanket on investors hoping that the Fed would transition to the final phase of the tightening process. " Read

11.03.22
Morningstar
'Threat of higher 'peak' rate above 5% from Fed in 2023 reverberates across markets'
"There's definitely a lot of focus on supply/demand fundamentals and inventories which we saw on the (EIA) release today, and about when the Russia sanctions kick in," said Rebecca Babin, senior energy trader at CIBC Private Wealth US. Read

11.02.22
Reuters
'Oil prices gain by tight supply; other risk assts swoon on Fed rate hike'
"Powell's message of a higher terminal rate caught the markets off-guard," said Gary Pzegeo, head of fixed income at CIBC Private Wealth U.S., which oversees $92 billion in assets. Read

11.02.22
Barron's
'Stocks Take a U-turn After Fed Decision'
“What he’s doing right now is just striking a balance between not being too soft or too aggressive,” said Bryan Reilly, portfolio manager at CIBC Private Wealth.

10.25.22
Seeking Alpha
'Global Markets Stage Broad Rebound In Last Week's Trading'
“The equities market is trying to form a bottom to get to the last leg of the bear market,” writes David Donabedian, chief investment officer of CIBC Private Wealth US, in research note to clients. “It feels like a two-way market right now. We have a tug of war going on between the skeptics and those who think it is time to own equities.”

10.24.22
Yahoo! Finance Live
'Oil market facing increased volatility from ‘dueling factions’: Strategist'
Senior Energy Trader Rebecca Babin recently appeared on Yahoo! Finance Live. You can watch her segment here.

10.24.22
Investing.com
'Global Markets Stage Broad Rebound In Last Week’s Trading'
Investors are wondering if higher prices for markets generally last week are a sign that the selling has been exhausted. In research note to clients, David Donabedian, chief investment officer of CIBC Private Wealth US, wrote:

“The equities market is trying to form a bottom to get to the last leg of the bear market. It feels like a two-way market right now. We have a tug of war going on between the skeptics and those who think it is time to own equities.”

10.21.22
Yahoo! News
'Shale firms discount 'U.S. put' as inadequate to lift oil output'
Rebecca Babin, senior energy trader at CIBC Private Wealth, said tight oil supplies have pushed up price expectations into 2024. But that occurred apart from the SPR offer, she said.

10.21.22
Bloomberg
'Stocks Jump With Treasury Reversal in Wild Session: Markets Wrap'
“The equity market is trying to form a bottom to get to the last leg of the bear market,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “It feels like a two-way market right now. We have a tug of war going on between the skeptics and those who think it is time to own equities.”

He noted that the Fed is not done raising rates and valuations are still not as low as he would expect to see at the bottom of a bear market. “We are just not there yet,” Donabedian added.

10.19.22
Bloomberg
'Oil Rises as Biden’s Energy Remarks Fail to Pacify Markets'
“The change in tone is subtle but not missed by the market,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “Biden did not ban product exports which was something many in the market have been worried about.”

10.12.22
The Wall Street Journal
'Nasdaq Falls Into Bear Market After Volatile Day: Stocks fell after Bank of England governor warned that bond-buying program will end this week as scheduled'
“First-quarter and second-quarter earnings came in remarkably well. The third quarter may be the pivot point at which we see earnings cannot keep growing to the sky, and that companies are subject to the economic headwinds we are facing from all kinds of directions,” said David Donabedian, chief investment officer at CIBC Private Wealth US.

10.11.22
The Wall Street Journal
'Futures Put Stocks on Track to Extend Selloff: U.K. government-bond yields edged lower after the Bank of England expanded its bond-buying program'
“First-quarter and second-quarter earnings came in remarkably well. The third quarter may be the pivot point at which we see earnings cannot keep growing to the sky, and that companies are subject to the economic headwinds we are facing from all kinds of directions,” said David Donabedian, chief investment officer at CIBC Private Wealth US.

10.10.22
Bloomberg
'Oil Rally Wavers as Recession Fears Curb OPEC+ Momentum'
“Crude continues to process last week’s OPEC meeting, specifically how the US may respond to OPEC+’s decision to cut demand into a tight market,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “Demand concerns are at play in the background as China data was weak overnight but with limited liquidity, short covering may continue to drive trading in the near term.”

10.10.22
CNBC
'Oil markets are facing a demand concern, says CIBC’s Rebecca Babin'
Senior Energy Trader Rebecca Babin recently appeared on CNBC’s Squawk Box. You can watch her segment here.

10.08.22
Forbes
'Recession Watch: Bear Market Deepens As Fed Official Warns Rate Hikes Will Trigger 'Failures' Around Global Economy'
Though strong employment is good for job-seekers, David Donabedian, the chief investment officer of CIBC Private Wealth, explains the report is "not good news for the Fed," which wants to see the job market slow down enough to help ease inflation before pivoting on interest rate hikes that have tanked stocks and stoked recession fears this year.

10.07.22
The Washington Post
'Stocks sputter to first weekly gain in a month'
“The job market is chugging along and as long as that’s the case, the Fed’s going to keep raising rates,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “The report puts an exclamation point on the idea that this bear-market bottoming process is going to be a long one.”

10.07.22
ThinkAdvisor
'Stocks Crushed as Jobs Keep Fed on Hiking Path'
To David Donabedian at CIBC Private Wealth US, the report puts an “an exclamation point” on the idea that the market bottoming process is going to be a long one. In this “bizarro world” of big hikes, traders may see the solid data as a reason to brace for turmoil, says Callie Cox of eToro.

10.07.22
CNBC
'September job gains affirm that the Fed has a long way to go in inflation fight'
David Donabedian, CIO at CIBC Private Wealth: “We expect the pressure on the Fed to remain high, with continued monetary tightening well into 2023. The Fed is not done tightening the screws on the economy, creating persistent headwinds for the equity market.”

10.07.22
Bloomberg
'Searing Cross-Asset Vortex Exacts a Heavy Toll on Tempted Bulls'
“This thing just drags on and on,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “What tends to happen then is that some investors lose hope -- this idea that it’s never going to get better.”

10.07.22
Fox Business
'US job growth slows again in September with just 263,000 positions added'
"This is not good news for the Fed, which wants to see a slowing in the jobs market to ease wage growth and inflation pressure," said David Donabedian, chief investment officer of CIBC Private Wealth. "Today’s report does not give us that and raises the likelihood of a 75 basis point rise in the Fed fund rate next month."

10.07.22
Yahoo! Finance
'Stocks Crushed as Jobs Keep Fed on Hiking Path: Markets Wrap'
To David Donabedian at CIBC Private Wealth US, the report puts an “an exclamation point” on the idea that the market-bottoming process is going to be “a long one”. In this “bizarro world” of big hikes, traders may see the solid data as a reason to brace for turmoil, says Callie Cox of eToro. The conclusion for Brown Brothers Harriman’s Win Thin is that a 75-basis-point Fed boost in November is a “done deal,” with another increase of that size in December becoming a “real possibility.”

10.06.22
Reuters
'TREASURIES - U.S. yields climbs after claims data, payrolls eyed'
“It doesn’t change the narrative but we’re probably in sit-and-wait mode until tomorrow morning until the employment report comes out,” said Christopher Lanouette, managing director and fixed income manager of taxable and tax-exempt bond portfolios at CIBC Private Wealth.

“The overall macro narrative really hasn’t changed, at least enough to alter what the Fed is going to do, so this tug of war between the market trying to parse the data and thinking that any time of weak indicator is going to cause the Fed to pivot is probably premature.”

10.05.22
Bloomberg
'Oil Extends Rally as OPEC Cuts Output, Russia Mulls Reduction'
“All in all this was supposed to be an event that reduced volatility and added support to the market. However, I think the end result here may be more volatility and uncertainty in the market,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management.

09.27.22
CNBC
'Crude oil bulls have 'lost their will to fight,' says CIBC senior energy trader'
Senior Energy Trader Rebecca Babin recently appeared on CNBC’s Squawk Box. You can watch her segment here.

09.21.22
Bloomberg
'Oil Slips as Bearish Signals Compound Despite Putin’s Escalation'
“Macro markets are definitely the elephant in the room right now with rates and the dollar really keeping a lid on crude rallies,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management.

09.21.22
The Bond Buyer
'Fed seen as likely to go 75bp, signal higher terminal rate'
The CPI numbers "solidify the odds of a third consecutive 'unusually large' rate increase," said Gary Pzegeo, head of fixed income at CIBC Private Wealth U.S. "The Fed may find some comfort in the deceleration of core goods prices, but further acceleration in food, shelter and health care should lead them toward a more restrictive policy rate at a faster pace."

09.12.22
Bloomberg
'Oil Rises With Dollar’s Descent Countering Demand Worries'
The conclusion of the Biden Administration’s US strategic oil releases, harsher European sanctions that start on Dec. 5 and gas-to-oil switching would support oil prices, Rebecca Babin, a senior energy trader at CIBC Private Wealth Management said during a Bloomberg MLIV event.

“Looking out for rest of 2022, we see prices moving higher with WTI in the $95-$105 range and Brent $100-$110,” she said.

09.11.22
CNN Business
'The worst of inflation finally might be over'
"There must be a convincing downward trend in inflation. We are not there yet," said David Donabedian, chief investment officer of CIBC Private Wealth US, in a report Friday.

09.09.22
Barron's
'The Dow Is Rising, Coinbase Is Jumping—and What Else Is Happening in the Stock Market Today'
“if the [CPI] number is higher this will be a negative for stocks and bonds,” wrote David Donabedian, chief investment officer of CIBC Private Wealth US. “If the report is less, it will be a catalyst for a market rally.”

09.09.22
Bloomberg
'Risk Rally Deepens as S&P 500 Tops 100-Day Average: Markets Wrap'
To David Donabedian at CIBC Private Wealth US, this week’s market recovery has shown there is
continued resilience in the economy. But he also points out that a sustainable bull market would hinge upon three factors falling into place: a convincing inflation downward trend, a belief that the Fed is about done with tightening and more realistic expectations for corporate earnings.

“Despite the idea that the Fed will kill the economy, we have not seen any signs of that,” said
Donabedian. “We have not reached the bottom of the bear-market yet. Indeed, the journey to the next bull market will take time, and will be marked by a series of setbacks and recoveries.

09.09.22
CNBC
'Stocks jump for a third day as Wall Street snaps Fed-induced slide, Dow up 400 points'
“The case for the ongoing bear market is that the Fed will continue to tighten monetary policy, withdraw liquidity from the market and cause a tailspin for equities,” said David Donabedian, chief investment officer of CIBC Private Wealth U.S. “But this week’s market recovery has shown there is continued resilience in the economy bolstered by favorable economic reports.”

Still, Donabedian added that he does not think stocks have reached the bottom of the bear market yet. “Indeed, the journey to the next bull market will take time, and will be marked by a series of set-backs and recoveries,” he said.

09.09.22
Reuters
'The Message from OPEC: Cartel fires a warning shot, market shrugs'
“The market has said, ‘that’s all good, but call me when the barrels are off the market. You can say what you want, but until the supply is off the market; the number is irrelevant,’” said Rebecca Babin, senior energy trader at CIBC Private Wealth US.

09.07.22
Bloomberg
'Oil Market Darkens as Technical Breaches Spur a Selling Frenzy'
"Elevated volatility is the story here,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “There is no way to have conviction and want to place bets when the market trades in huge ranges with limited liquidity. The risk reward is just not there."

09.01.22
The Wall Street Journal
'Stock Futures Decline Ahead of Jobs, Manufacturing Data - Oil prices extended a run of losses prompted by demand fears'
The fall has come as investors reassessed hopes that the Fed could soon ease off from its campaign of interest-rate increases. Instead, many are girding for a lengthier period of higher interest rates, though expectations of when the Fed will start cutting interest rates are likely still too hopeful, said David Donabedian, chief investment officer of CIBC Private Wealth US.

“There was too much Fed optimism. The idea that the Fed was getting close to the end of tightening and would begin cutting rates next spring never really made sense to us,” he said.

“I feel a bit more optimistic about the market now over the next three to six months. There has been a reality check and a reassessment of expectations, and I prefer it when the market is in a sober mood rather than a euphoric one,” he said.

08.24.22
Bloomberg
'Oil Swings on Speculation Iranian Nuclear Deal May Be Imminent'
“The stakes are very high and will test European resolve for inflicting pain on Russia at the cost of their economy,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “Buyers of Russian crude are playing the game to get the cheapest crude without drawing the ire of the US and Europe.”

08.09.22
New York Times
'The Fed Is Cooling Down the Economy, but Stocks Are Hot. What Gives?'
“I think the ‘peak inflation’ argument has become so ingrained in the market’s psyche that the jobs report was interpreted more as being anti-recession,” said David Donabedian, the chief investment officer of CIBC Private Wealth Management.

But Mr. Donabedian cautioned that investors may be overly optimistic even if inflation falls from current levels. If the headline inflation rate declines to 8.7 percent, that is well above the Fed’s policy target of 2 percent.

With such optimism driving stock prices, any shock that shows inflation accelerating could quickly drag financial markets lower.

08.03.22
Bloomberg
'Oil Plunges to Lowest Since February as US Gasoline Demand Drops'
Motor gasoline supplied figures have been closely watched by the market to get a read on where consumption stands, said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “There had been hopes after last week’s data that soft July demand data was reversing,” said Babin. “This week’s release will keep buyers on hold.”

07.29.22
New York Times
'The S&P 500 is about to have its best month since November 2020'
“I think we are going to go through a tough time in the second half of the year, where the economic data continues to show growth eroding and inflation might not come down as fast as people are hoping,” said David Donabedian, chief investment officer of CIBC’s U.S. private wealth business.

07.29.22
Bloomberg
'Stocks Off Highs as Inflation Woes Temper Earnings: Markets Wrap'
“This is a rally within a bear market rather than the start of a new bull market,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “We would expect a lower P/E ratio if we were at the bottom of the market. While the equity market has partially recovered, we expect it will retest the lows we saw in June.”

Donabedian says that the optimism about the Fed potentially wrapping up its rate hike cycle earlier that expected is “more hope than reality”. He sees more rate hikes and says there’s still a lot of work ahead to bring down inflation while adding that “a slowing job market is on the way.”

07.28.22
Morningstar
'North American Morning Briefing: Stock Futures Dip on Meta Outlook; More Tech Results Due'
"The rally we have seen looks like a classic bear market rally, rather than the launch of a new bull market," said David Donabedian, chief investment officer of CIBC Private Wealth US.

"We are still going to have a period where inflation is uncomfortably high and growth is uncomfortably low and that is not a good backdrop."

07.27.22
Yahoo! Finance
'Oil Rises as US Stockpiles Drop and Exports Climb to a Record'
“The Fed’s decision was not a catalyst for the crude market but did remove some fears” of an even-higher rate hike, said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management.

“Crude trading recently has been highly correlated with macro headlines, but it should be noted that physical fundamentals improved meaningfully today and is the real driver of price action today.”

07.25.22
Barron's
'Is the stock market going up? It depends on the definition of recession.'
“If you have a monetary-policy-driven road to a recession, it’s gradual, then suddenly,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.

07.22.22
Bloomberg TV
'Bloomberg Markets: The Close (07/21/2022)'
Chief Investment Officer Dave Donabedian, CFA, recently appeared on Bloomberg TV. You can watch his segment at the 0:58:00 mark here.

07.20.22
Forbes
''Make No Mistake': Bear Market Isn’t Over And These Stocks Could Lead The Next Plunge, Morgan Stanley Warns'
“Earnings have been okay, but more spotty than in recent quarters," says David Donabedian, the chief investment officer of $98 billion CIBC Private Wealth U.S., noting the economy is "getting more challenging," as evidenced by companies like Johnson & Johnson and IBM lowering profit expectations in recent days.

"Fed tightening together with less robust corporate earnings in the next quarter will not be a good combination for equities," he adds.

07.20.22
Bloomberg
'Oil Declines as Traders Brace for US Crude, Gasoline Builds'
“The market is hyper focused on demand metrics and recent US demand data has failed to inspire confidence,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management. “EIA data will be closely watched for bulls to reengage with the market."

06.19.22
Barron's
'The Stock Market’s Selloff Will Eventually End. Bet On It.'
The Fed needs to bring inflation down, and the growth rate of the economy will be a victim,” says Dave Donabedian, chief investment officer at CIBC Private Wealth US.

06.17.22
The Wall Street Journal
'Stocks Historically Don't Bottom out until the Fed Eases'
“I don’t think the rate of the decline in the market will continue at this pace, but the idea that we’re approaching the bottom—that’s really hard to come up with,” said David Donabedian, chief investment officer of CIBC Private Wealth US.

Mr. Donabedian said he has discouraged clients from trying to “buy the dip,” or to buy shares on discount with the expectation that the market will turn around soon. Even after a punishing selloff, stocks still don’t look cheap, he said. And earnings forecasts still look too optimistic about the future, he added

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.