Financial markets at a glance – March 31, 2023
FINANCIAL MARKETS
AT A GLANCE
March 31, 2023
Canadian and U.S. equities were positive over the quarter. Yields fell through the quarter. Government bonds outperformed corporate bonds, and long-term bonds outpaced short-term bonds. Here are the financial markets at a glance.
CANADIAN EQUITIES
U.S. EQUITIES
Sector
10 of the 11 Canadian equity sectors ended the quarter in positive territory. Here are the best and worst performing sectors relative to last quarter.
Sector
7 of the 11 U.S. equity sectors ended the quarter in positive territory. Here are the best and worst performing sectors relative to last quarter.
WORST PERFORMERS
BEST PERFORMERS
Information
Technology
Materials
Utilities
23.7% 
8.1% 
6.7%
Energy
Health Care
Financials
-4.2%
1.3%
1.7%
Information
Technology
Communications
Services
21.7%
20.4%
Financials
Energy
-5.7%
-4.8%
Company size performance comparison
Medium sized companies outperformed small and large sized companies, with large sized companies trailing but all were positive over the quarter.
Company size performance comparison
Large sized companies outperformed both small and medium sized companies, but all were positive over the quarter.
What’s working/What’s not working
From a style perspective, growth outperformed the index while value trailed but all were positive.
All factors and the index were positive this quarter, while dividends and low volatility outperformed, followed by quality. Momentum trailed the index.
What’s working/What’s not working
Growth outperformed while value trailed the index this quarter.
Factors were mixed this quarter, with quality outperforming the index while low volatility, dividends and momentum trailed.
GLOBAL EQUITIES
FIXED INCOME
Regional
Company size performance comparison
Global large and small companies were positive over the quarter.
Large Companies
Small Companies
What’s working/What’s not working
From a style perspective, growth outperformed the index. Value trailed the index but all were positive over the quarter.
Most factors were positive over the quarter and quality outperformed the index. Momentum was negative and underperformed the most.
Yields fell this quarter. Long-term bonds outperformed short-term bonds. Government bonds outperformed corporate bonds.
Relative bond performance
Bond yield
Both shorter and longer date bond yields fell over the quarter.
Yield on the Canada 2-year fell from 4.06% to 3.74%.
Canada 5-year fell from 3.41% to 3.02%.
Canada 10-year fell from 3.30% to 2.89%.
Canada long bond fell from 3.28% to 3.02%.
Source: Morningstar Research Inc. as of March 31, 2023. © 2023 Morningstar Research Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
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March 2023
