Insurance, Investments and Group Benefits

FINANCIAL MARKETS AT A GLANCE

September 30, 2024 Canadian and U.S. equities were positive over the quarter. Bond yields fell through the quarter. Corporate bonds outperformed government 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’s the sector performance, with arrows indicating performance relative to last quarter.		Sector 10 of the 11 U.S. equity sectors ended the quarter in positive territory. Here’s the sector performance, with arrows indicating performance relative to last quarter.
WORST PERFORMERS BEST PERFORMERS	Real Estate Financials Utilities 23.0% 17.0% 16.6% Energy Industrials    Consumer Discretionary -6.2% 2.7% 7.8%		Utilities  Real Estate 17.8% 15.7% Energy Information Technology -3.6% 0.3%
	Company size performance comparison  Large sized companies outperformed medium and small sized companies, with small companies trailing.		Company size performance comparison  Small sized companies outperformed large and medium sized companies, with medium trailing. All were positive over the quarter.
	Large Companies Medium & Small Companies		Small Companies Large & Medium Companies
	What’s working/What’s not working From an investment style perspective, value outperformed the S&P/TSX Composite Index while growth trailed. Both factors and the index were positive over the quarter. All other factors were positive over the quarter. Dividends and low volatility outperformed the S&P/TSX Composite Index, while momentum and quality trailed.		What’s working/What’s not working From an investment style perspective, value outperformed the S&P 500 Index while growth trailed. Both factors and the index were positive over the quarter. All other factors were positive over the quarter. Dividends and low volatility outperformed the S&P 500 Index, while quality and momentum trailed.

	GLOBAL EQUITIES		CANADIAN FIXED INCOME
	Regional*   Company size performance comparison  Global large and small companies were positive over the quarter, with small companies outperforming.     Large Companies Small Companies What’s working/What’s not working From an investment style perspective, value outperformed the MSCI World Index while growth trailed but both factors and the index were positive over the quarter. All other factors were positive over the quarter. Dividends and low volatility outperformed the index, while quality and momentum trailed.		Yields fell this quarter. Long-term bonds outperformed short-term bonds. Corporate bonds outperformed government bonds.  Relative bond performance  Long-term Bonds Short-term Bonds     Government Corporate      Bond yields    Both shorter and longer date bond yields fell over the quarter. Canada 2-year yield fell from 3.99% to 2.91%. Canada 5-year yield fell from 3.51% to 2.73%. Canada 10-year yield fell from 3.50% to 2.95%. Canada long bond† yield fell from 3.39% to 3.13%. † Maturity date of the the Canada long bond is 2055.12.01.

Unless otherwise indicated, all index, factor and sector performance data is Canadian dollars and total return.

* Representative indexes are as follows: Canadian Equities - S&P/TSX Composite TR Index, U.S. Equities - S&P 500 TR Index, Emerging Markets - MSCI Emerging Markets GR Index, European Equities - MSCI Europe GR Index, Asian Equities - MSCI Pacific ex Japan GR Index, Japanese Equities - MSCI Japan GR Index. Indices are unmanaged and cannot be invested in directly. 

Source: Morningstar Research Inc. as of September 30, 2024. © 2024 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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September 2024