Equities, convertibles, and high yield markets advanced in Q1

Investors digested above-consensus earnings, mixed economic data, and shifting market expectations around Federal Reserve easing in the first quarter. Fourth quarter earnings results were better than expected, with most companies beating both top- and bottom-line forecasts.

Visibility around earnings, U.S. dollar and Treasury market stabilization, and an end to the rate-hike cycle could be positive developments for stocks. Any equity market volatility is expected to present opportunities for active managers to take advantage of better prices for attractive investments.

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