Market Thoughts for April 2023
Brad McMillan, Commonwealth’s CIO, recaps March’s market and economic news. U.S. markets were up by low single digits in March. For the quarter, the Nasdaq performed best, followed by developed markets and the S&P 500. The primary driver was the progress on inflation, which is well below where it started the year. Still, fears of a broader banking crisis rattled markets after the Silicon Valley Bank collapse. Federal action resolved the immediate concern, but weak balance sheets could signal tighter financial conditions ahead. With political risks also in play, are we moving closer to a recession? Stay tuned to find out.
