Market Update – Sticky inflation suggests more interest rate increases

GPS Wealth Monthly Market Update

Markets have become volatile once again as investors grapple with the dual threats of stickier inflation and uncertainty over systemic risk after the collapse of Silicon Valley Bank (SVB). Events around SVB are likely to continue dominating the attention of investors as the extent of the fallout is measured. In the US, the 2-year bond yield decreased 0.48% in two days. It recorded 5.07% before falling back to 4.59% effectively removing the expectation that the Federal Reserve’s next move was likely to be an increase of 50 basis points. That move at the time of writing had been priced out of the interest rate market. The US 10yr bond yield fell 0.29% to 3.45%. (Please find the link below to read the full article)

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