{"id":12613,"date":"2024-04-04T15:53:29","date_gmt":"2024-04-04T19:53:29","guid":{"rendered":"https:\/\/www.batirente.com\/?p=12613"},"modified":"2024-04-04T15:53:29","modified_gmt":"2024-04-04T19:53:29","slug":"markets-at-a-glance-q1-2024","status":"publish","type":"post","link":"https:\/\/www.batirente.com\/en\/markets-at-a-glance-q1-2024\/","title":{"rendered":"Markets at a glance"},"content":{"rendered":"<p><strong>To help you better understand the performance of funds presented in your quarterly statement, B\u00e2tirente\u2019s Investment Strategy Manager, Jean-Fran\u00e7ois Dumais*, shares the economic and market highlights of 2024\u2019s first quarter.<\/strong><\/p>\n<h3><strong>Economy<\/strong><\/h3>\n<p><strong>Inflation<\/strong>: Central bank interest rate hikes of 2022-2023 continue to have an impact on global inflation growth, which is now well below the 8.1% peak reached in summer 2022. In Canada, inflation is less than 3% (2.8% at the end of February 2024).<\/p>\n<p><strong>Key interest rates<\/strong>: We can see the end of the money tightening measure (i.e., increased central bank rates), and market players now anticipate several interest rate cuts coming as of this summer. But what remains unclear is when, exactly, the best time is to reduce these rates, with inflation still hovering above the 2% target of North American central banks. The latter want to avoid having inflation rise again if rates drop too drastically and quickly.<\/p>\n<p><strong>Recession<\/strong>: The aim is to avoid creating a major recession, which could be on the horizon if rates remain high for an extended period. We\u2019ve already noticed a substantial slowdown in Canada\u2019s economic growth. Year-on-year growth in gross domestic product (GDP) was 0.8%, compared with 4.6% in the summer of 2022. Canada is likely headed for a recession, but one that will possibly be milder given the positive job market.<\/p>\n<p>On the American side, we\u2019ve also witnessed a slowdown in economic growth, although a number of investors believe that the American economy will be able to avoid a recession (two consecutive quarters of negative GDP).<\/p>\n<h3><strong>Markets<\/strong><\/h3>\n<p><strong>Equity<\/strong>: The economic conditions described above have led to positivity in these markets. The all-country equity index recorded a return of 11.0% (in Canadian dollars); the global small cap equity index posted a performance of 6.8% (in Canadian dollars); and Canada\u2019s main index (S&amp;P\/TSX) achieved returns of 6.6%. As in 2023, securities related to artificial intelligence are responsible for a major portion of index growth.<\/p>\n<p><strong>Bonds<\/strong>: We\u2019ve been seeing rising rates, as market players have postponed the first of these central bank rate cuts to a later date. As such, the FTSE Canada Universe Bond Index had a 1.3% negative return.<\/p>\n<h3><strong>Outlook for 2024<\/strong><\/h3>\n<p><strong>Balance<\/strong>: In 2022-2023, several central banks responded robustly by raising their interest rate to reduce inflation\u2014a successful measure that helped restore investor confidence. Investors are hoping to find the right balance between economic growth and inflation.<\/p>\n<p><em>*Jean-Fran\u00e7ois Dumais has worked as an Investment Strategy Manager at B\u00e2tirente since 2019. Along with a Master of Business Administration (MBA) degree (Finance specialization), he has 20 years\u2019 experience in financial markets.<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>To help you better understand the performance of funds presented in your quarterly statement, B\u00e2tirente\u2019s Investment Strategy Manager, Jean-Fran\u00e7ois Dumais, shares the economic and market highlights of 2024\u2019s first quarter.<\/p>\n","protected":false},"author":3,"featured_media":9104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-12613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-your-money"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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