Macroeconomics   |   Feb 19, 2020

Fear vs Fundamentals: Redux

We are well into earnings season for the final quarter of 2019, but one could be forgiven for not noticing. After all, Coronavirus fears and the accompanying environment of heightened uncertainty have stolen the headlines. At the same time, they have poured cold water on what’s been a solid reporting season thus far, and market movements have been driven more by fears of a global pandemic rather than reaction to economic fundamentals.

Jean-Guy Mérette
Portfolio Manager, Fixed Income

An early take on earnings

As of February 14th, 289 of the 389 companies in the S&P 500 that have reported earnings have beaten the Street’s estimates, with the average report being 5.4% better than predicted by analysts. Of note, U.S. banks got the season underway with some stellar results. Gains were reported across most business lines, with notable strength in the consumer divisions, reflecting ongoing domestic resilience that’s been at odds with woes in the factory space.

Related Insights

Market Update by Candice Bangsund
General
Aug 5, 2022

Global Asset Allocation Team Market Update – August 2022

The mood in the market improved in July amid speculation that a slowing global economy will prompt central banks to pivot their focus and cool the scale of rate hikes to tame decades-high inflation, which sparked a rally in both stocks and bonds.
Jean-Guy Desjardins
Executive Chairman of the Board
Candice Bangsund
Vice President and Portfolio Manager, Global Asset Allocation
Q3 2022 Investment Outlook & Portfolio Strategy
Market Comment
Jul 13, 2022

Q3 2022 Investment Outlook & Portfolio Strategy

Read our latest quarterly Investment Outlook and Portfolio Strategy document, providing a financial market recap for Q2 and our outlook for the next 12-18 months.
Fiera Capital Private Wealth Canadian Yield Curve Overview Jean-Guy Mérette
Fixed Income
Mar 29, 2021
4:40

Canadian Yield Curve Overview

Description: Jean-Guy Mérette, Vice President and Portfolio Manager, Active and Strategic Fixed Income Team, talks about the Canadian yield curve, and shares the team's strategy to navigate this environment.
Jean-Guy Mérette
Portfolio Manager, Fixed Income
Fiera Capital from the bond desk
Fixed Income
Feb 15, 2021

Is the Bond Market Getting Ahead of Itself?

The shape of the yield curve has changed significantly over the past six months.
Jean-Guy Mérette
Portfolio Manager, Fixed Income