Aviso Weekly Market Monitor: 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 Monitor: March 13th – March 17th

Mar 20, 2023

Market developments Equities: On Friday the U.S. market gave back some of the weekly gains as major banks put restrictions on trading with Credit Suisse and First Republic dragging the regional banking sector index lower. First Republic got a show of support from the...

Four pillars of investment tax planning

Mar 17, 2023

Fully informing the tax strategy for your portfolio You harnessed your spending habits to set aside savings. You researched the investments you deemed worthy of your hard-earned dollars. And now, as you admire your accumulating wealth, there’s a dark cloud ahead...

NEI Monthly Market Insights: February 2023

Mar 14, 2023

Markets fatigued in February The sizzling rally in January may have gone too far and markets began to cool in February in response to signals that the economy remains too hot. Central banks may not be done in tightening just yet. Recent surprise in labour market data...

Aviso Weekly Market Monitor: February 27th – March 3rd

Mar 6, 2023

Market developments Equities: The U.S. market bounced back after a difficult week last week as investors speculate that the Fed won’t raise rates above the peak rates that are currently being priced in. The S&P finished the week up nearly 2% and the Nasdaq around...

Ten things to do with your 2022 tax refund

Mar 3, 2023

Spending and saving in helpful harmony Other than those who work in the tax preparation business, no one looks forward to preparing an income tax return – that is, unless you’re expecting a refund! If you’re particularly keen and prepared, the Canada Revenue Agency...

Aviso Weekly Market Monitor: February 20th – February 24th

Feb 27, 2023

Market developments Equities: The U.S. market ended the week lower, given the positive growth surprises in the American economy. In line with more robust growth, on Friday, the Core PCE was also higher than consensus making the S&P 500 go down 1.05%. Fixed income:...