Politics & Policy

A 24 Hour Geopolitical News Cycle

May 01, 2026

Guests: Frank McKenna, Deputy Chair, TD Securities

Host: Peter Haynes, Managing Director and Head of Index and Market Structure Research, TD Securities

Episode 77 covers a wide range of topics on the geopolitical landscape including the recent assassination attempt on President Trump, the implications on global energy markets of UAE's decision to exit OPEC and which person is leading Iran in negotiations with the United States. Frank discusses the stalemate and war of attrition that is the Russia-Ukraine conflict, which is a win for Ukraine and the impact on populist governments of the shocking defeat by authoritarian leader Victor Orban in Hungary. The conversation turns to Canada where Frank discusses Carney's back door into a majority and how it will change calculus for the Liberal leader's policymaking and CUSMA negotiation strategy. He finishes with analysis of Prime Minister Carney's recent announcements of a new Sovereign Wealth Fund and an upcoming Federal Government-led global investment Summit planned for Toronto in September, both positive developments for Canada.

Chapters:
0:48	President Trump Assassination Attempt
5:58	Who is Negotiating on Behalf of Iran?
11:25	U.A.E. Leaves OPEC
13:38	Ukraine's Move to Back Pages Masks Recent War Successes
17:41	What Orban's Loss Means for Populist Leaders?
30:35	Carney Replies to Greer's Threats Ahead of CUSMA Talks
32:22	Explaining Canada's New Sovereign Wealth Fund
36:46	Recent Investment Wins for Carney Puts Approval Process in Spotlight

This podcast was recorded on April 28, 2026.

Full transcript to come.

Disclaimer

This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this recording was obtained from publicly available sources, has not been independently verified by TD Securities, may not be current, and TD Securities has no obligation to provide any updates or changes. All price references and market forecasts are as of the date of recording. The views and opinions expressed in this podcast are not necessarily those of TD Securities and may differ from the views and opinions of other departments or divisions of TD Securities and its affiliates. TD Securities is not providing any financial, economic, legal, accounting, or tax advice or recommendations in this podcast. The information contained in this podcast does not constitute investment advice or an offer to buy or sell securities or any other product and should not be relied upon to evaluate any potential transaction. Neither TD Securities nor any of its affiliates makes any representation or warranty, express or implied, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed.

Frank McKenna

Deputy Chair, TD Securities

Frank McKenna
Deputy Chair, TD Securities

Biography

As Deputy Chair, Frank is focused on supporting TD Securities' continued global expansion. He has been an executive with TD Bank Group since 2006 and previously served as Premier of New Brunswick and as Canadian Ambassador to the United States.

Peter Haynes

Managing Director and Head of Index and Market Structure Research, TD Securities

Peter Haynes
Managing Director and Head of Index and Market Structure Research, TD Securities

Biography

Peter joined TD Securities in June 1995 and currently leads our Index and Market Structure research team. He also manages some key institutional relationships across the trading floor and hosts two podcast series: one on market structure and one on geopolitics. He started his career at the Toronto Stock Exchange in its index and derivatives marketing department before moving to Credit Lyonnais in Montreal. Peter is a member of S&P’s U.S., Canadian and Global Index Advisory Panels, and spent four years on the Ontario Securities Commission’s Market Structure Advisory Committee.