Aviso Weekly Market Pulse: March 6th – March 10th

Mar 13, 2023

Market developments

Equities:
The S&P500 finished the week down over -4.5%, the Nasdaq down -4.7% and the TSX around -4% as the turmoil caused by SVB Financial Group created concern within the banking sector and led to a spike in market volatility as the VIX hit 29 on Friday. Investors will shift their focus to the inflation data next week as they weigh the probability of a 50bps rate hike in March vs previous estimates of 25bps.

Fixed income:
The bond market rallied on Friday as traders are now expecting a 25bps rate hike in March and lowered the overall expectations for peak rates by nearly 40bps. This move was driven by the jobs numbers on Friday that showed a tick up in the unemployment rate in the U.S. and slower than expected wage growth. The US 10yr closed more than 25bps lower at 3.68% and the Canadian 10yr was also down, closing at 2.99%

Commodities:
Oil closed higher on Friday after better-than-expected U.S. jobs data, but still finished the week down -4%. Expectations of rising interest rates in the U.S. and Europe clouded the outlook for growth and pressured oil earlier in the week. Like other assets, next week’s inflation will be crucial as the need for higher rates will increase the likelihood of a recession and potentially impact the demand for oil.

Read more…

Recent Posts

Aviso Weekly Market Pulse: April 1st – April 5th

Market developments Equities: U.S. stocks climbed on Friday after a stronger-than-expected March jobs report, but the S&P 500 is still headed for its biggest weekly decline since the first week of the year amid rising geopolitical concerns and hawkish signals from...

Aviso Weekly Market Pulse: March 25th – March 28th

Market developments Equities: The S&P 500 Index saw modest weekly gains, propelling equities to their most impressive first-quarter performance since 2019, bolstered by the latest U.S. GDP figures. These numbers fueled speculation that the Federal Reserve might...

Why, when and how to rebalance your portfolio

Your investment portfolio needs a plan to help you reach your financial goals. Asset allocation is a relatively straightforward investment strategy that can help you to balance investing risks and rewards. An asset allocation strategy establishes the relative...

NEI Monthly Market Insights: February 2024

Markets leap forward in February The market rally continued into February in equities, with resilient economic data and relatively strong earnings reports fueling the S&P 500 Index to new record highs in February, gaining 6.9% for the month. Both the Nasdaq and...

Aviso Weekly Market Pulse: March 18th – March 22nd

Market developments Equities: Stocks experienced a slight decline on Friday, halting the week's rally triggered by the Federal Reserve's commitment to potential interest rate cuts this year. Despite the day's decline, the S&P 500 is poised for its most significant...

Aviso Weekly Market Pulse: March 11th – March 15th

Market developments Equities: The S&P 500 ended the week slightly down, as tech stocks sold off, coinciding with a significant Friday options expiration with approximately $5.3 trillion in options set to expire, adding to the market's volatility. With earnings...