The following market commentary is courtesy of the Plan’s Foreign Equity investment manager, MFS Investment Management Canada Ltd.
The following market commentary is courtesy of the Plan’s Canadian Equity investment manager, Connor, Clark & Lunn Investment Management. After the volatile financial markets experienced in March, investors welcomed a more stable market environment in the second quarter. Investor sentiment improved in response to several factors, including the resolution of the US debt ceiling discussions, […]
The following market commentary is courtesy of the Plan’s Canadian Equity investment manager, Connor, Clark & Lunn Investment Management. The first quarter of 2023 was a whirlwind for global financial markets. There was positive market sentiment early on that was largely driven by strong economic data, China’s economic reopening and subdued inflation releases. That positive […]
Financial markets faced uncertainty about future monetary policy in the fourth quarter. Signs of peaking inflation, along with market expectations for a downward shift in the pace of monetary tightening, boosted investor sentiment and led to widespread gains across asset classes in the first two months of the quarter. Positive sentiment reversed in December in […]
At the start of the third quarter, there was widespread optimism that inflation had peaked and that slowing economic activity would allow monetary policymakers to limit further tightening and perhaps pivot toward lower interest rates sooner than expected. This sparked a rally across asset classes into late August, at which point U.S. Federal Reserve Chair […]
Financial markets remained turbulent throughout the second quarter of 2022, as inflationary pressures (the highest in 40 years) and the prospect for more aggressive interest rate hikes continued to weigh on investor sentiment. Monetary policymakers aggressively stepped up their tightening measures in an attempt to prevent inflation (thought of as “transitory” just six months earlier) […]
Both bond and stock markets started 2022 poorly, as investors began pricing in aggressive interest rate hikes in the face of rising inflation and slowing economic growth. As highlighted in previous commentaries, these trends were firmly in place towards the end of last year, but the military conflict in Europe has intensified price pressures and […]
The global economic recovery continued in the fourth quarter of 2021, but at a slower pace and with emerging distinctions between industries. Notably, energy prices continued to push higher, extending the energy sector’s winning streak and putting those in the “inflation is transitory” camp – not to mention managers of fossil fuel free funds – […]
China dominated the capital market news cycle in September, sending markets sharply lower following two months of strong gains. Default risk – with global implications – surfaced at Evergrande, China’s second largest real estate company. The ruling Communist party also cracked down on cryptocurrency use, and, more broadly, businesses and capital market activity via sweeping […]
Market Commentary – Fourth Quarter 2023
January 29, 2024
The following market commentary is courtesy of the Plan’s Canadian Equity investment manager, Leith Wheeler Investment Counsel Ltd. Summary This year ended up being a strong one for markets, as evidence of easing inflationary pressures emerged in the fourth quarter. We have witnessed consecutive months in October and November where inflation in Canada hovered just […]