As we bid farewell to the first quarter, it’s worth noting that the bull run continued its stride. While you can observe the impressive stock-index returns below, what truly stands out is that the performance of global stocks ranked among the top 20% of quarters over the past century. This surge follows a robust 2023, with notable increases in the S&P 500 and TSX.
TSX: +6.6% YTD
S&P 500: +13% YTD
Nasdaq: +12% YTD
Bitcoin: +72.4% YTD
Magnificent 7: +20% YTD
The optimism of professional investors at the year’s outset swiftly transformed into confidence, propelled by a slew of positive developments: robust corporate profits, delayed rate cuts, and a lack of significant inflation or unemployment spikes. Individual investors also entered the fray, contributing to the heating up of speculative assets like Bitcoin. With surging options volume, fuelled by heightened demand from individual investors, concerns about another speculative stock bubble, akin to 2021, linger. However, prevailing sentiment on Wall Street remains relatively unconcerned, banking on sustained corporate profitability and subdued inflation.
As we embark on Q2, here’s hoping for continued stability and prosperity in the markets.
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