Key Highlights
- Bonds performed well in Q1 as inflation and interest rates came down.
- In March, the US announced tariffs on Canada, Mexico and China. Additional global tariffs were announced in early April and later lowered or delayed.
- US equities, which have led global markets for the past decade, declined in Q1. International equities rose on expectations of increased government spending in Europe. Canadian equities made small gains.
- Tariff policies and their impacts remain uncertain, but investors who stick to their plan are likely to do best in the long run.
As always, given the unpredictability of markets in the short term, we recommend making sure that portfolios are aligned with long-term objectives. If you have any questions about your organization’s investments, please contact your Encasa advisor.