There was very little to complain about in Q1. Bonds were down a smidge, but really only on the longer end of the curve. Add some credit, or shorter duration and returns were roughly flat or up a bit. Hey, a boring bond market is actually kind of nice given what we have experienced over the past few years. All the real excitement was in the equity markets. The S&P 500 is up over 10%, an impressive feat for a mere quarter. But it wasn’t just America; Europe and Japan both rose even more during the quarter, with Japan making a new all-time high– something not accomplished since its bubble high of 1989. Just to bring back the memories, in 1989 National Lampoon’s Christmas Vacation was the top box office hit … oh the Griswolds. Canada’s TSX was a bit of a laggard, up less than 10%.
 

With the first quarter of 2024 now in the rearview, this report dives into a couple of portfolio tilts and why we are positioned the way we are. Let’s jump into it.

Click here for a copy of the report.