Description

As markets continue on a dynamic trend, fixed income portfolio manager Crista Caughlin discusses the economy and factors that drove markets in the first quarter of 2024. In addition, the reemergence of a more typical correlation pattern between stocks and bonds, getting central banks off the sidelines, and the concern that markets may be being too complacent.

Key points from this episode:

• Global growth improving, inflation moderating, and earnings relatively strong
• In Canada, growth has improved although consumption remains weak when compared to the U.S.
• Moving with caution: strong data has begun to cause central banks to be cautious around timing of interest rate cuts—they want to be confident higher inflation is in the rear view mirror
• Strong equity markets—a continuation of the 2023 technology-focused businesses doing particularly well, especially if they have a tie in to AI or semiconductors
• Too much complacency? We may not have seen the full impact of higher interest rates, and you can see that in some areas we are seeing continued pressure (e.g., real estate, mortgage arrears, loan delinquencies)

Host: Kevin Minas, CFA, Institutional Portfolio Manager
Guests: Crista Caughlin, CFA, Mawer Portfolio Manager
For more details and full transcript visit: https://www.mawer.com/the-art-of-boring/podcast/quarterly-update-q1-2024-ep152
This episode is available for download anywhere you get your podcasts.
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Founded in 1974, Mawer is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit Mawer at https://www.mawer.com.
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