Strategist Coffee Break: Shock and Reversion

Jul. 21, 2023

Guest: Mark McCormick, Global Head of FX and EM Strategy, TD Securities

Host: Sharon Kim, Regional Head of Europe, TD Securities

This year has seen surprisingly persistent inflation push policy rates toward pre-financial-crisis highs and the first signs of real pain following the string of bank failures last spring. Despite this uncertainty, the TD Securities Global Strategy team continued to beat consensus with its forecasts and profitably navigate the markets.

In this Special Edition Strategist Coffee Break, Mark McCormick, Head of FX & EM Strategy, sits down with our host, Sharon Kim, Executive Managing Director and Region Head of Europe, to discuss his team's recent successes including last year's outstanding factor portfolio performance. They also review what's to come for FX markets through the rest of this year as the markets shift from focusing primarily on inflation towards growth.

Mark's experience in financial markets has led to a deep knowledge of global markets and international affairs, combining the use of econometrics, policy insight and fundamental/technical analysis. He developed a novel analytical framework to generate insightful market analysis and actionable trade ideas allowing his team to approach currency coverage in a methodical way.

This episode was recorded on July 10, 2023.

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Portrait of Mark McCormick

Mark McCormick
Global Head of FX and EM Strategy, TD Securities

Portrait of Mark McCormick

Mark McCormick
Global Head of FX and EM Strategy, TD Securities

Portrait of Mark McCormick

Mark McCormick
Global Head of FX and EM Strategy, TD Securities

Mark covers the major FX markets and helped develop the analytical framework used for market analysis, forecasts and trade ideas across different asset classes. Before joining TD Securities in 2016, he worked as a Global Macro Strategist at Credit Agricole Corporate and Investment Bank in New York. He was responsible for covering G10 and Emerging Markets currencies in the Americas. Previous to that he was a G10 Currency Strategist at Brown Brothers Harriman.

Portrait of Sharon Kim

Sharon Kim
Executive Managing Director and Region Head of Europe, TD Securities

Portrait of Sharon Kim

Sharon Kim
Executive Managing Director and Region Head of Europe, TD Securities

Portrait of Sharon Kim

Sharon Kim
Executive Managing Director and Region Head of Europe, TD Securities

As Region Head of Europe for TD Securities, Sharon is charged with setting the strategic direction for both the UK and the European continent. She is responsible for oversight of all regional operations and risk management, fostering effective relationships with regulators. Sharon also serves as Co-Chair on our ESG Solutions team. Sharon brings over 25 years of industry experience. Since joining TD Securities in 2006, she has held increasingly senior roles and has served as Co-Head of Global Foreign Exchange and is well accustomed to managing teams of specialists spanning TD Securities’ global footprint. She has a track record of turning around seemingly mature businesses through technology and innovation, raising the profile of the product across the broader organization.

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