FidelityConnects

Bobby Barnes, Head of Quant Index Solutions, looks at which factors are in focus as we enter the fourth quarter of 2021, also with an eye on next year. Bobby shares that over the next few months he sees opportunities for early cycle dynamics - pro-cyclical industries and factors that do well when the economy is reaccelerating. For next year, at this point Bobby sees policy easing, noting as the business cycle moves into mid-cycle, the Fed doesn’t need to provide the same amount of stimulus. Bobby also looks at the trajectory for growth stocks, interest rates, and speaks about how this is a unique environment to invest in dividends.

Recorded on September 10, 2021.

Sector strategist Denise Chisholm shares her insights into the economic outlook for the rest of the year and touches on the disconnect between valuations and earnings.  Denise shares what she thinks about the valuations of stocks at the moment.  She points out valuations are down 40 percent from the peak in 2009 and down 10 to 15 percent year over year. She says valuations shouldn’t be a critical driver for investors because historical data shows, more likely than not, that earnings are not always right. Other topics she tackles, the Federal reserve reducing bond purchases, what sectors she is keeping an eye on, and CPI and inflation expectations.

Recorded on September 13, 2021.

Transcript (PDF): https://www.fidelity.ca/cs/Satellite/doc/transcript_podcast_chisholm_13sept.pdf

Nicole Connolly manages the Women’s Leadership Fund and discusses how investing in companies that prioritize and advance women's leadership and development could potentially offer investors strong risk adjusted returns.  Nicole says the interest in ESG is changing and that we just experienced a record flow year of $50 billion into the space just last year. Demographic tailwinds are pushing the movement of "investing for impact." Nicole also discusses the impact of climate investing, how Fidelity gauges company viability and other ESG-friendly trends.

Recorded on September 8, 2021

On today’s episode, we welcome Peter Bowen, VP Tax and Retirement Research and Andrew Clee, VP of Product, for a panel discussion on the tax and investment implications of the 2021 Canadian federal election. From rising inflation to housing costs and other economic issues, Peter and Andrew lay out the platforms of the different parties and what it could mean for investors. The panelists expand on possible outcomes of the election, what it could mean for future spending, what sectors could be affected, and how it could change various tax issues and rules.

On this episode of the Upside, we speak to Global Consumer investor Aneta Wynimko. Aneta manages the Fidelity Global Consumer Industries Fund for Canadian investors and globally, she manages a similar fund and demographics fund.  She adds that she invests in different parts of the world with a big emphasis on the U.S. and Chinese market. Aneta is focused not only on consumer goods and services, but also intellectual property, brands, and pricing power.  Aneta speaks to host Emily Anonuevo about the changing consumer landscape since the beginning of the pandemic until now.  For example, the US consumer is more open and unrestricted whereas the European consumer behaves a little more cautiously.  Aneta points out consumers now are more concerned with quality products rather than fast fashion and that younger consumers are committed to sustainability and “greener” products than ever before.   

Recorded on September 8, 2021.

Director of Global Macro, Jurrien Timmer, shares his insights on what investors expect to see in the markets as we step into the Fall months. He says the fall season is usually quite busy with people on the road, conferences taking place and schools reopening, but that all is changing now. Jurrien comments on the large cap growth and how it seems to be resuming its leadership in the market due to mega-trends like demographics, and aging baby boomers.  He says it has become the cash flow machine that bonds use to be, but aren't any longer.  Jurrien also discusses the reflation trade and where he thinks it will go from here.  He explains it's on remission, on hold of sorts.  But he believes there will be another version on its way once the Delta Variant wave subsides. He says it's clear the market believes the that spike in inflation is transitory. 

A decline in unemployment benefits in the U.S., upcoming job reports and movement in the job market overall is the basis of Sector Strategist Denise Chisholm’s discussion this week on FidelityConnects.  Denise offers her insights and discusses her assessment of capital expenditure performance and their effects on value stocks. She also touches upon the resurgence of COVID-19 numbers, the on-going issue of inflation, and what other factors could hit the economy if we were to come across vulnerable moments in the markets in the weeks and months ahead.

In the 21st episode of the Fidelity ETF Exchange - powered by FidelityConnects, co-hosts Étienne Joncas Bouchard and Himesh Patel welcome back Cameron Chamberlain to the show. Cameron is a Portfolio Strategist at Fidelity Investments Canada. Today’s discussion is centered around what are the main factors that impact risk and return for an equity portfolio. Some of the key topics discussed include the notable home bias for Canadian investors and how to diversify from a geographic and sector standpoint, the impact of investment styles as well as the effect of ESG from a risk standpoint.

Recorded on September 1, 2021

Institutional Portfolio Manager Scott Mensi breaks down the opportunities in high income markets amidst potential rising inflation and provides his thoughts on where investors could find opportunities in the second half of 2021.  US leveraged loan assurance climbed 60 percent in the first half of 2021, Scott explains what factors are driving this recent performance, and what trends are expected to shape the loan and high yield markets.  In addition, he describes what fixed income opportunities are there for investors following the Jackson Hole Summit.  Scott also talks about the role of the CLOs market, or collateralized loan obligations, within the loan market right now and how it could fit into one's portfolio.

Recorded on August 31, 2021

Jurrien Timmer, Director of Global Macro, unpacks the recent U.S. Federal Reserve Jackson Hole Symposium. Jurrien notes that the U.S. Federal Reserve has an eye on starting to raise rates, but are currently buying billions in bonds. Since they can't raise rates while buying bonds, they'll have to taper to zero purchases before raising rates. Jurrien also looks at how the fourth wave of COVID-19 is not impacting the U.S. economic reopening as much as past waves. Jurrien also touches on value vs. growth, gold, and what investors should be looking for when making decisions throughout the rest of 2021.