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Client Letter Q2 2024
Our client letter provides a quarterly market update including insights into global markets, lower inflation, and the beginning of interest rate cuts by various central banks around the world.
Our client letter provides a quarterly market update including insights into global markets, lower inflation, and the beginning of interest rate cuts by various central banks around the world.
Here's a deeper look at the factors at play to start the year.
he markets have been volatile recently because inflation has not declined as expected, and interest rates remain high. Investors had thought central banks would have started discussing interest rate cuts by now, but that has yet to happen.
Since the beginning of the year, Canadian and U.S. economic data has pointed to stubborn inflation resulting in market pricing in more interest rate hikes than expected.
The first quarter (Q1) of 2023 was a rollercoaster ride for investors. Market volatility unfolded following U.S. and European banking turmoil, and interest rates and inflation climbed—evoking investor fears about financial stability.
2022 was a tumultuous year for investors, to say the least. Markets around the world were affected by high inflation, rising interest rates, and concerns about slowing economic growth in 2023.