FidelityConnects

The Fed, inflation, and earnings through a fixed income lens – Beau Coash

Today on the show, we welcome Institutional Portfolio Manager Beau Coash. He discusses about the expectations surrounding inflation, the similarities and differences about Canada compared to the 2008 financial crisis in the United States, and much more.  Beau explains how the US was able to add over 150 thousand jobs than what was initially anticipated. Major reasons for this included the opportunity for selective security investment which notes stabilization in the “big seven” companies, as well as significant productivity improvement expectations from them. NVIDIA is currently highlighted for its potential influence in the semiconductor industry, and other companies within that space will make an impact with NVIDIA as its centrepiece. Beau speaks on how the Federal Reserve’s goal for inflation remains to get down to 2%, with the current progress to doing so being confusing. The Reserve prefers to use the Personal Consumption Expenditures inflation metric which currently indicates movement towards the 2% target, but the consumer price index hovers around 3.1 or 3.5%, a significantly higher figure.

Recorded on February 2, 2024.

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 third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.

Healthcare in 2024 – Alex Gold

Today on the show, we welcome Portfolio Manager Alex Gold. He discusses his outlook for the global health care sector in 2024, and the themes he’s watching this year. Alex shares that a major theme he has seen so far in the year is increased utilization of hospital services. This differs from a few years prior, where many were hesitant to check into hospitals during the majority of Covid-19. Last year healthcare was among the worst performing S&P subsectors, although the global market is expected to jump from 750 million people to around one and half billion. Because of this, Alex believes there is an opportunity to invest in healthcare’s long term structural growth. Alex also notes that the subsidies on the stage of valuations is another huge healthcare theme, primarily due to the major Nordic drug companies that are connected to weight loss products.

Recorded January 30, 2024.

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 third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics’ Advisor Digital Experience Study.

Denise Chisholm's sector and factor perspectives – January 29, 2024

Today on the show, we welcome Director of Quantitative Market Strategy Denise Chisholm. She brings her unique insights and perspectives on the sectors to watch in global markets. Denise dives into the yield curve inversion and assures that it does not necessarily indicate an immediate recession as proven by the inversion in 1966. It is more the steepening of the inversion that causes issues for the equity market than the inversion itself, and half of the time there comes a recalibration of monetary policy. The current 6-month run rate of the PCE deflator has dropped to below 2%, and the price level remains 20% higher than it was before the start of Covid-19. Inflation has slowed down to the measure the Federal Reserve prefers.Denise discusses the current rate drops and how that could lead to risk assets from more economically sensitive sectors improving.

Recorded on February 20, 2024.

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 third 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.

Dividend investing and downside protection – Ramona Persaud

Today we’re bringing you a conversation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with long time dividend investor Ramona Persaud. Ramona speaks about the current market environment, how she thinks about risk, and how that plays into her investment strategy.

Recorded on January 31, 2024.

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 third 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.

Global asset allocation outlook for 2024 – David Wolf, David Tulk, and Ilan Kolet

Today we’re bringing you a conversation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with our Global Asset Allocation team composed of David Wolf, David Tulk, and Ilan Kolet. The team gives their outlook and market perspectives for 2024.

Recorded on January 31, 2024.

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 third 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.

Thinking big with small caps – Connor Gordon

Today we’re bringing you a conversation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with portfolio manager Connor Gordon who co-manages Fidelity’s Global Small Cap Opportunities Fund. He talks about his journey into Fidelity, how Fidelity uses its breadth of research and resources, and he elaborates on the security selection process in his fund.

Recorded on January 31, 2024.

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 third 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.

Lessons learned – Will Danoff

Today we’re bringing you a conversation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with legendary and long-time Fidelity Portfolio Manager Will Danoff. Will highlights his investment strategy and how it has changed throughout his tenure. He also highlights sectors and industries he’s looking at and how technological innovation shapes his investment decisions.

Recorded on January 31, 2024.

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 third 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.

Bank of Canada announcement, inflation, and the economy – Economist Don Drummond

Today we’re pleased to welcome a special guest, renowned economist Don Drummond. Don has held several senior roles at the Federal Department of Finance, including Associate Deputy Minister, where he was responsible for economic analysis, and fiscal and tax policies. Today, Don comments on the latest Bank of Canada announcement, possible rate cuts, the housing market and rental pressure. Don says the Bank believes in a model where creating slack in the economy will, over time, reduce inflation. The BoC also expressed confidence in its strategy, indicating that the first step of creating slack in the economy has been accomplished. But Don points out the market tends to anticipate economic changes, positioning itself in advance. He says the clock for these changes has just started, whereas people initiated this countdown a year or two earlier.

Recorded on January 25, 2024.

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 third 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.

VISION: Jurrien Timmer’s state of the market – January 31, 2024

Today we’re bringing you a conversation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following presentation is with Fidelity Director of Global Macro Jurrien Timmer. Jurrien discusses market trends, economic growth, global interest rates, and much more.

Recorded on January 31, 2024.

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 third 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.

VISION: A CIO perspective and market outlook – Andrew Marchese

Today we’re bringing you a special presentation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with Fidelity Canada’s CIO and portfolio manager Andrew Marchese. He discusses the current state of the market, provides his insights for 2024, and introduces the new Canadian Long/Short Alternative Fund.

Recorded on January 31, 2024.

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 third 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.

VISION: Diversifying your equity strategy with Global Equity Plus – Mark Schmehl, Dan Dupont, and Hugo Lavallée

Today we’re bringing you a conversation from Fidelity Canada’s Vision 2024 event in Toronto. Vision offers insights from our portfolio managers and investment experts and provides their comments on the current market environment, Fidelity’s investment process and our global research network operation. The following conversation is with Fidelity portfolio managers Mark Schmehl, Dan Dupont, and Hugo Lavallée. They discuss the Global Equity Plus Fund and where they are seeing opportunities in 2024.

Recorded on January 31, 2024.

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 third 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.

New year, new trends: Canadian markets in 2024 – Joe Overdevest

Today on the show, we welcome Portfolio Manager Joe Overdevest to the program as he discusses commodities, unemployment, the new inflation reduction act and much more. Joe talks about commodities and says there is a positive outlook for both natural gas and copper. For natural gas, there is a surplus of supply because of the mild winter, but overall a positive outlook for 2024. And for copper there are positive sentiments there, but will be driven by a bullish perspective and dependent on conversations with major CEOs within the industry. Joe touches on many other topics and trends like the continuing conversation around interest rates, concerns with mortgages in Canada, and the importance of investing and compounding during these times. Joe says investors need to be careful and resist being swayed by current headlines and avoid abandoning long-term strategies due to short-term uncertainties.

Recorded on January 24, 2024.

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 third 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.

Analyst perspectives: Banks and the consumer industry – Brendan Cochrane & Nic Bellemare

Today on the show, we welcome Fidelity Research Analysts Brendan Cochrane and Nic Bellemare. They dive into the banking sector, the current state of consumers and this year’s investment opportunities they are finding in these sectors. The current environment in the banking sector has displayed high rates and low loan growth, as credit delinquency rates slowly rise. Brendan and Nic discuss how the direction of credit is a crucial factor for influencing bank stocks throughout the rest of the year. Bank stocks started by reacting positively to the Bank of Canada rate cuts, alleviating credit concerns and reducing negative tail risks. However, rate cuts can also hinder the progression of revenue for banks, commonly through Net Interest Margin compression. Brendan and Nic take a look at various consumer statistics including spending behaviour, confidence and portfolio positioning. Consumers of all levels of income face specific economic challenges, and there have been observations of resistance to further price increases. The current consumer confidence appears to be strong meaning immediate government support may not be needed, but it is possible for things to get tougher before getting easier. Advisors are being urged to reassess the portfolio positioning, which will require acknowledging the potential economic scenarios.

Recorded on January 19, 2024.

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 third 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.

International equity themes for 2024 – Patrice Quirion

Today on the show, we welcome Patrice Quirion, Portfolio Manager of the Fidelity Global Concentrated Equity Fund. He opens up about where he is finding global investing opportunities so far in the new year. Patrice explains how this year’s market expectations are considerably higher than last year’s, with the risk perception dropping due to the greater certainty of upcoming interest rates. Many opportunities lie within undervalued areas, some dispersion within the market is observed once again, and while there may be a clearer direction forming for it, the journey to that point may not be entirely smooth. Rate cuts are also currently expected by year-end, although their full extent and timing are still uncertain and expectations should remain reasonable. Patrice discusses how numerous Asian markets, particularly China, are showing signs of eventual improvement in corporate governance. There are opportunities to search for undervalued assets, and the market’s disappointment with the lack of aggressive stimulus measures is factored into valuations. There are challenges surrounding the real estate sector and weak consumer confidence in the Chinese economy, but market stabilization and increased confidence and spending capacity create potential for a rebound.

Recorded on January 18, 2024.

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 third 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.

Jurrien Timmer’s global macro view – February 5, 2024

Today on the program, we welcome Fidelity’s Global Macro Director Jurrien Timmer as we get his perspectives on market trends, economic growth, global interest rates and more. The S&P 500 cap-weighted index reached a new all-time high, however, not for the equal weighted and for the small caps.  Jurrien believes higher than expected earnings, and a tight labour market are major contributors to this recent rise.  At the same time, Jurrien believes the market is overestimating the number of rate cuts the Fed will likely implement. He discusses the impact of Fed rate cuts being uncertain on Canadian homeowners and corporations.  Overall, Jurrien expects a bullish broadening theme in the market this year. He adds there is a possibility of having a short bull market but, typically, the market tends to go up 70 to 80% on average in a short bull market. But he also says, it’s still too early to tell as he describes the market as a young bull market that potentially has more runaway left.

Recorded on February 5, 2024.

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 third 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.

Latest advancements in artificial intelligence – John Bradley

On the program today, Director of Emerging Technologies John Bradley discusses the latest advancements in artificial intelligence and how Fidelity is leveraging the newest technologies to benefit advisors and their clients. John goes over the various benefits of AI tools and how we can use them at Fidelity. AI allows for image and voice recognition, quicker and easier research and automated processes for implementing data and making it easy to understand. A number of companies such as Adobe and Microsoft are providing AI tools, and as long as we can recognize the tools that are being received positively and why, we can work to apply them advantageously. John discusses AI’s abilities to create faster content delivery, mitigate risks, assist in healthcare, education, entertainment and more. In many of these cases AI can be used to speed up various processes, provide a higher level of quality review, and generally assist in tasks that could be more easily performed by a program and its tools. John adds how incredibly important it is for us to stay up to date on AI trends and news to properly understand the technology so we can apply it and ensure future success.

Recorded on January 17, 2024.

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 third 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.

Fidelity in 2024: Industry trends, innovations and more – Dave Bushnell and Andrew Clee

On the program today, Senior Vice President of Advisor Sales and Vice President of Product Andrew Clee join host Pamela Ritchie to discuss industry trends, innovations and what advisors should keep top of mind in 2024. Andrew and Dave begin by commenting on the whirlwind that was 2023. Dave highlights GICs and GICs high interest savings accounts as a dominant topic amongst advisors and Andrew adds that we experienced two different markets in one year and it didn’t look promising until about mid-October. Andrew also adds we saw a double digit return in the last quarter of the year with big tech names ending on a high note. So, most of the year-to-date gains came in a short period of time. Andrew says for bonds although it didn’t do so well in 2023, the returns did come significantly in a short period of time. Andrew adds that the key is to stay invested rather than trying to time things out. Dave highlights a good strategy for 2024 - that is to leverage the Fidelity sales team as much as possible. Andrew adds to look at the redeployment of higher interest savings, GICs, and traditional 60-40 asset classes. He says to start thinking about reinvestment risk from an interest rate standpoint rather than the total return over the next twelve months.

Recorded on January 16, 2024.

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 third 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.