Forthlane Off the Charts | with Andrew Sarna

The AI trade is showing cracks, oil prices remain stubbornly high, and the path for equities into year-end is anything but clear.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui unpack what's behind the recent AI selloff, why the market may be underestimating the risks of sustained high oil prices, and what could tip the balance between the bull and bear cases for markets as the year draws to a close.

Rising bond yields are sending shockwaves through financial markets, and few asset classes are immune.

In this episode of Off the Charts, Andrew Sarna breaks down why rising yields have far-reaching implications for investors, how AI-driven enthusiasm is masking weakness across the broader equity market, and how investors can build portfolios that are better positioned for a world of persistent inflation.

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The Fed hiked for the first time in three years and the bigger risk may be what comes next. 

In this episode of Off the Charts, Andrew Sarna breaks down why 25 basis points isn't the real concern, how AI-driven earnings are masking weakness across the broader economy, and what family offices should actually be doing with their portfolios right now.

WHAT TO LISTEN FOR

5:35 Why is AI, not the broader economy, driving equity market resilience right now?

7:49 What happens to semiconductors and data center suppliers if h...

Trade wars are giving way to a new set of pressures; rising bond yields, a stronger-than-expected jobs report, and a Fed caught between hiking and losing credibility.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui unpack why US 10-year yields near 17-year highs are squeezing risk assets, what a blowout August jobs report actually says about the health of the economy, and whether the Fed hikes at next week's FOMC meeting.

Listen for:

:28 Why are bond yields at 17-year highs putting risk assets under...

Trade wars are escalating, the global trading order is fracturing, and a quiet US Treasury move just sent gold and Bitcoin surging.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui unpack the collapse of Canada-US trade negotiations, the case that this conflict is ultimately about China, and what the Treasury's bond market move signals for investors holding real assets.

WHAT TO LISTEN FOR

:35 Why did Canada-US trade talks collapse — and who's really to blame?

3:59 What do 50% auto tariffs mean for Canadian man...

The labour market is sending mixed signals, corporate earnings are booming, and bonds may be quietly eroding your purchasing power. 

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui unpack July employment reports; Q2 corporate earnings that are running at near-COVID-recovery levels, and the current challenges with traditional bonds.

WHAT TO LISTEN FOR

:31 Why did the US lose 23,000 jobs while unemployment actually fell?

4:34 What does 50% S&P earnings growth really mean for investors?

7:37 Which sectors surprised most — and is the SaaS...

AI Capex is rattling markets, Trump has a new policy trigger, and the Fed's new chair faces his first big test.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui break down why hyperscalers spending $700 billion on AI infrastructure is spooking investors, why Trump's decision to return to the negotiation table with Iran is best understood through a four-variable "taco index," and why new Fed Chair Kevin Warsh is almost certain to hold rates, even as hike odds climb.

WHAT TO LISTEN FOR

:32 Why is the market punishing...

Inflation is collapsing, passive investing has a hidden risk, and private equity is flashing warning signs.

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui break down why June's surprise CPI drop may be too good to be true, why passive investing has quietly become a concentrated bet on AI, and why now is not the time to rush into new private equity allocations.

WHAT TO LISTEN FOR

:28 What does June's surprise CPI drop mean for markets and the rate outlook?

3:08 How concentrated...

Markets, gold, and the USMCA: three stories making headline. 

In this episode of Off the Charts, Andrew Sarna and Vanessa Hui break down why the S&P 500’s June dips masks a broadening market, why gold’s recent pullback may not weaken its longer term case, and how the upcoming USMCA review creates serious uncertainty for Canada’s economy.

WHAT TO LISTEN FOR

0:30 Why Is the S&P 500 Hiding Strength in the Broader Market?

2:26 Are AI Hyperscalers Becoming the New Commodity Producers?

3:32 Could Amazon Become the Next ExxonMo...

Andrew Sarna and Vanessa Hui break down three topics influencing markets: the prospects and pitfalls of a Middle East peace deal; the growing national security implications of frontier AI models; and what reaccelerating inflation above 4% means for investors.

WHAT TO LISTEN FOR

0:22 What should investors make of the anticipated Middle East peace announcement?

4:01 Why did the US government force Anthropic to pull its Mythos class of models?

7:41 What does headline CPI above 4% mean for markets?

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Markets are splitting into winners, worriers, and one very expensive rocket ship. 

In this episode of Forthlane’s Off the Charts podcast, Andrew Sarna breaks down three market-moving stories: the “K-shaped” U.S. economy, where wealthy households keep spending while lower-income consumers face shrinking savings and rising delinquencies; Canada’s technical recession, driven by weak productivity, housing dependence, trade uncertainty, and pressure on living standards; and the looming SpaceX IPO, which could become the biggest capital raise in history while testing just how far retail speculation, index demand, and Elon Musk’s story-stock power can go.

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Andrew Sarna and Vanessa Hui break the resurgence in oil markets, inflation fears reigniting, and why the U.S.-China relationship remains stuck in a stalemate.

WHAT TO LISTEN FOR

00:28 Why is the rest of the world selling off while the US holds on?

03:39 Three months, a closed strait, and oil at $110 — why is this only hitting markets now?

07:51 The US-China Summit promised a lot — so why did it deliver almost nothing?

09:29 The three things every investor needs...

Andrew Sarna and Vanessa Hui break down three topics influencing markets:  cautious central banks, surprisingly strong but narrow earnings growth, and massive AI CapEx spending. 

WHAT TO LISTEN FOR

0:25 Why Did All Major Central Banks Hold Rates Steady?

3:06 How Strong Was Q1 Earnings Season?

4:28 Why Are the Magnificent Seven Driving Market Earnings?

6:55 How Big Is the AI CapEx Cycle?

9:28 What Happens If AI Spending Starts to Miss Expectations?

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Off the...

Andrew Sarna and  Vanessa Hui unpack three themes shaping markets and portfolio construction: the recent market rally; a shift in sentiment around the Mag 7; and a bottoms-up approach to finding compelling opportunities.  

WHAT TO LISTEN FOR

:48 What’s behind one of the  strongest 10-day rallies in history?

6:37 What is driving the shift in AI sentiment and what does it mean for the Mag 7?

11:22 Where s are there still compelling opportunities in today's uncertain environment?

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In this debut episode of Forthlane’s Off the Charts, Andrew Sarna and Vanessa Hui unpack three recent headlines impacting markets: escalating Middle East tensions, mounting concerns in private credit, and a challenging March for traditional portfolios.

Despite geopolitical chaos, equities remain surprisingly resilient, leaving investors questioning whether markets are underpricing risk or simply conditioned to ignore it. . 

The key takeaways: the war is difficult to handicap and markets remain resilient; private credit headlines are more about liquidity than fundamentals; and portfolio construction matters more than ever when traditional diversification breaks down.

If you’re a high-net-worth investor who wants clarity without the noise, this show is for you. Forthlane’s Off the Charts podcast breaks down three market headlines each episode, and what they actually mean for portfolios, risk, and positioning. No extra babble, just the headlines and the meaning. 

Hear Forthlane perspective from Andrew Sarna, with practical context across rates, inflation, equities, and fixed income. 

Built for clients and investors who value disciplined decision-making and long-term thinking. 

Follow Forthlane’s Off the Charts for Forthlane commentary you can use, every two weeks.

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