Today on the show, we welcome Senior Analyst Lee Sotos to the program. Lee is also assistant portfolio manager for the Global Financial Services Fund. He shares his thoughts on the latest rate cut by the Fed and what it may mean for the U.S. financial sector, consumer and credit. Lee says overall the financial sector responded to the cut positively, but at the same time the data is a little confusing he adds. Recent CPI numbers, increased terminal rate and near-term unemployment numbers suggest the market is still figuring things out. Lee says with all this data, we still can’t predict how this all plays out. Lee says the fund is not positioned to make major rate bets, but at the same token is not blind to the fact that rates could go down and keep going down. He emphasizes that the fund is positioned for lower rates, but also has exposure to higher for longer investments.  He adds the team currently has little exposure to China and is focused on Singapore for wealth management and on India for banks.    Recorded on September 20, 2024.   At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.