RESULTS at a glance – 1Q24
Stocks have had a strong start to the year despite persistent concerns around inflation, which continues to sit above targets. Central bankers maintain that rate cuts are coming, but markets have nonetheless pushed 10-year yields higher as investors reset expectations around the future stimulus, with the uncertainty likewise bring gold prices towards a new all-time high. Oil prices have meanwhile risen amid ongoing global geopolitical conflicts; while Canada stands to benefit from higher prices, the Loonie is down marginally so far this year against the US dollar.
| MARKETS | QTR-END 29-Mar-24 | YR-END 29-Dec-23 | CHANGE THIS YEAR |
| S&P/TSX Composite | 22,167 | 20,958 | 5.8% |
| S&P 500 | 5,254 | 4,770 | 10.1% |
| EAFE | 2,349 | 2,236 | 5.1% |
| GoC 10-Year | 3.47% | 3.11% | 36bps |
| US Gov 10-Year | 4.21% | 3.87% | 34bps |
| CAD$ / US$ | 0.739 | 0.756 | -2.2% |
| WTIC Oil | $83.17 | $71.65 | 16.1% |
| Gold | $2,207.00 | $2,062.40 | 7.0% |
Returns are based on price change only, and exclude dividends. Foreign indices are in USD.
Source: National Bank Financial, Monthly Market Performance as of March 29, 2024