“You Retire Once… I Help People Retire Everyday”
Markets have felt unsettled lately—and for many investors, it’s brought back memories of 2022. Rising oil prices, geopolitical tensions, and the challenging mix of slowing growth alongside persistent inflation have all contributed to renewed uncertainty. But while the headlines may feel familiar, the underlying environment tells a very different story.
In our latest edition of April Market Perspectives, I break down what’s really happening beneath the surface and why context matters more than comparisons. Today’s backdrop is not one of runaway inflation and aggressive rate hikes, but rather a more balanced environment where policy rates are already elevated and inflation has moderated significantly.
That distinction is critical.
While volatility has picked up, markets today appear to be adjusting—not unraveling. Fundamentals remain more resilient than many investors might assume, even as uncertainty lingers. One key variable we’re watching closely is oil. Its trajectory will play an outsized role in shaping inflation expectations, central bank decisions, and overall market sentiment in the months ahead.
I also address a question on many investors’ minds: Could this turn into a bear market? The data suggests otherwise. Corporate earnings and profit margins continue to reach new highs, providing a strong backdrop for equities. At the same time, historical market behaviour shows that bear markets typically begin with sharp, rapid declines — not the more gradual pullback we’ve seen so far.
Perhaps most importantly, this edition reinforces a timeless lesson: investing is rarely comfortable in the moment. History shows that periods of uncertainty often create the greatest long-term opportunities—but only for those who stay disciplined and focused.
If you’re looking to cut through the noise and better understand what matters right now, I encourage you to take a few minutes to read the full report.
Click below to open the full edition and thanks for reading. AP
