Director of Quantitative Market Strategy Denise Chisholm is back on the program to lay out what economic factors are driving the markets, what sectors to keep an eye on at this time. Denise speaks to host Bryan Borzykowski and notes that things seem to be leveling off in the markets, the regional banking situation has cooled down, so is the market looking more optimistic? She says sentiment is not necessarily predictive of optimism. For Denise, she has a persistent silver lining view of the markets based on data and what can be measured. For example, she looks at CPI and year-over-year it’s doing what it normally does. And looking at CPI in the last 6 months on a core basis and outside of shelter, she notices that we haven’t decelerated this much since the 1970s and interestingly it’s the only time we’ve decelerated this rapidly without a recession. She adds “we are off cycle in this cycle” and that is actually more of a bullish setup than bearish. Denise says her top sectors are consumer staples and utilities and her bottom sectors are tech and real estate. Recorded on April 24, 2023. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

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