Company / Analytics

Analytics, 27 March 2023

What will drive the markets this week?

Last week,US stocks rebounded in a volatile trading session, with all indices finishing higher. The 2-year treasury yield retreated to 3.8267%, amid moderate rate expectations and a potential rate pause. Despite the pan-European STOXX 600 index falling 1.4%, it still posted a weekly gain due to a sharp recovery earlier in the week, with a year-to-date increase of only 3.5%. Regional bank stocks bounced back, with the SPDR S&P Regional Banking ETF gaining 3.01%. However, market sentiment remained confused as investors evaluated the impact of the banking crisis on the US and European markets. The Swiss franc lost against the dollar, while the yen gained over 5.5% against the dollar since the issues emerged at Silicon Valley Bank on March 9.

This week, we’ll receive the latest updates on home prices, with the Case-Shiller National Home Price Index and the FHFA House Price Index (HPI) for January. On Friday, the Bureau of Economic Analysis (BEA) will release the Personal Consumption Expenditures (PCE) Price Index—the Fed’s preferred gauge of inflation—for February. Consumer sentiment readings from the Conference Board and University of Michigan will also become available on Tuesday and Friday, respectively.

Events expected to move the markets this week

Monday, March 27

Tuesday, March 28

Wednesday, March 29

Thursday, March 30

Friday, March 31

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