FidelityConnects

Today on the program, we’re joined by Fidelity Director of Quantitative Market Strategy Denise Chisholm. Denise takes us through the indicators investors should be paying attention to right now, including real wage growth, a potential turnaround in the housing market, and the importance of understanding the Fed's actions in relation to potential problems or risks arising in the banking sector. Denise also touches upon the substantial positive change real wage growth has experienced recently, which may indicate a more sustainable market cycle, and even a reduced recession risk. She is also seeing signs of improvement in the housing market, with housing starts and sales improving, suggesting an uptick in real GDP growth. Denise speaks about inflation, highlighting that while it remains a concern, the rate of deceleration is an important indicator to watch out for. Overall, Denise believes the market has potential for further cyclical outperformance and is cautiously optimistic about its trajectory.

Recorded on July 20, 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.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Joining us on the program today is director of research and portfolio manager Joe Overdevest. Joe touches on the energy sector and financials and explains what he believes is moving the markets right now. He points out that Canada is looking pretty good right now adding that it had a great start to the year and economic data coming in is very promising. Joe also touches upon earnings, which have been slow in recent quarters, but are showing improvement. He adds the market is currently valued at around 20 times earnings and the S&P is at 18 times. He also discusses China's slow economic growth, how it's affecting business owners and could potentially affect global supply chains.

Recorded on July 18, 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.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Joining us today on the podcast is Portfolio Manager Sri Tella, who manages several portfolios including Fidelity Corporate Bond fund and Fidelity Tactical Fixed Income Fund. He discusses the Bank of Canada’s decision to raise rates, the effect on Canadian mortgages, and where he sees opportunity within fixed income markets. Sri explains to host Pamela Ritchie that while the increase was a bit of a surprise, the rationale behind it is consistent with historical trends. Despite recent rate increases, Sri says that the economy still looks strong due to various structural factors causing a delay in their impact. The high leverage and mortgage debt of the Canadian consumer is a concern, but he says that the nature of rollovers and refinancing mean it will take several years before the impacts of rate increases are fully felt.

Recorded on July 14, 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.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

On today’s program, Fidelity Director of Global Macro Jurrien Timmer discusses what a strong earnings season could mean for bull market optimists and touches on next week's Fed announcement. Jurrien explains to host Pamela Ritchie that last week’s Consumer Price Index report was very bullish, with CPI rising in the U.S. at a rate of only 3%.  If the markets declare victory too soon, he says, financial conditions will loosen, and investors may see a continuation of the Fed’s hawkish rhetoric.  Since the market is pricing in an eventual pivot back to a three and a half percent neutral rate, he says that the Fed will remain restrictive longer than expected.  So are we currently in a bull market?  Jurrien says it’s never really known in real time, by the time we know it's too late to do anything. Historically, when a bear market rally retraces more than roughly half of the preceding decline, it is a new bull market with very few rare exceptions.  He adds if there was a time that something could be different it’s in this post-pandemic time.

Recorded on July 17, 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.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

On the podcast today, Director of ETFs Andrei Bruno gives an overview of the ETF landscape as we pass the mid-year point of 2023. Andrei discusses his outlook on interest rates, money market yield rates, and how investors could navigate the ETF landscape. He says paying attention to the housing market could provide investors with insight into whether the market is at or nearing a bottom, allowing for increased flexibility in investment allocation according to changing market cycles.

Recorded on July 7, 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.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

For today’s podcast, we’re excited to bring you an episode of our new “Behind the Numbers” series. In “Behind the Numbers”, Chris Pepper, VP, Corporate Affairs, speaks with Fidelity’s portfolio managers, analysts, subject matter experts, and more, about what brought them into investing and what drives them every day. In this episode, Chris sits down with portfolio manager Dan Dupont. Dan is based in Montreal, but we caught up with him on a recent visit to Toronto.

Recorded May 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.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

On the program today, former TD Bank Chief Economist Don Drummond joins us. Don unpacks the latest Bank of Canada rate decision, its impact for future federal policy decisions, and the trajectory of the Canadian dollar. Don says the prolonged period of low interest rates has created a culture of indebtedness, which can be seen in lines of credit, business loans, and mortgage holders. He explains that investors should be looking at how much higher than normal these new rates actually are. In terms of the Canadian dollar, Don says that Canada’s 20% productivity deficiency means that the dollar should be priced at a 20% discount, but explains that deviations may occur depending on commodity prices.

Recorded on July 13, 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.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.