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How to make sense of today’s reality-defying markets

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Published:September 5, 2025

One thing most people assume about stock markets is that they’re an accurate reflection of what’s happening in the economy. Yet nothing about markets or politics feels typical right now. Despite global tariffs and unprecedented uncertainty, markets continue to soar. Howard Marks is co-chair of Oaktree Capital Management. His in-depth regular memos are must-reads among those in the industry and well beyond. He talks to host Amanda Lang about what’s going and what it all means. 

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Listen to more episodes from Season 2 of WONK:

Bigger tables, better narratives, broader impact”

Inez Jabalpurwala, President and CEO of the Public Policy Forum

By bringing together established leaders and emerging voices, our work produces resilient, practical policy ideas that serve all Canadians.