Denise Chisholm’s sector and factor perspectives – August 14, 2023

Director of Quantitative Research Denise Chisholm is back on the program. She discusses second quarter earnings results, and whether tech still sits in a leadership position within the market. Denise explains to host Pamela Ritchie that while investors were surprised by market resilience, historic data indicates that heightened inflation increases the likelihood of fewer earnings contractions. She says that on a go-foreword basis, markets are seeing a shift from above-average to modest returns but remain above negative territory. Denise says that although tech has delivered historic outperformance, from a ranking’s perspective, she prefers consumer discretionary over technology. Along with consumer discretionary, Denise adds there is also opportunity in the small cap space with industrials. She also touches on the bond market and what she thinks of the yield curve inversion.

Recorded on August 14, 2023.

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