{"id":4929,"date":"2023-03-19T19:45:05","date_gmt":"2023-03-19T23:45:05","guid":{"rendered":"https:\/\/envisionco.net\/?p=4929"},"modified":"2023-03-19T19:45:05","modified_gmt":"2023-03-19T23:45:05","slug":"week-ending-3-17-2023","status":"publish","type":"post","link":"https:\/\/envisionco.net\/?p=4929","title":{"rendered":"Week Ending 3\/17\/2023"},"content":{"rendered":"

MARKET RECAP<\/strong><\/p>\n

In the midst of the continuing bank chaos, gold hit an 11-month high, and bitcoin rose to over $27,000 from about $20,000 last week. The S&P was up 1.4% for the week but down 3.2% over the past two weeks. The Nasdaq is up by 4.4%.<\/p>\n

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The Feds were active this week in trying to keep bank depositors calm to stem a run on the small banks. Signature Bank was taken over, and 11 major banks deposited $30 billion in First Republic Bank to help keep the bank afloat. A program was put in place to lend money to banks in need. Then the Swiss central bank had to back Credit Suisse Group to the tune of $53 billion. Treasury Secretary Janet Yellen said, “Americans can feel confident that their deposits will be there when they need them.” The overall turmoil increases the odds of a recession.<\/p>\n

At least for now, the bank problem is one of liquidity, not solvency.<\/p>\n

As quickly as bank stocks were selling off, there was wild demand for Treasuries. Since March 8th, the yield on the 2-year treasury has fallen by 124 basis points from 5.05% to 3.81%. The 10-year has dropped from 3.98% to 3.39%. The three-month t-bill is now at 4.52% from 5.06%. Gold is up 8.4% and oil is down 13.4% in the last eight days.<\/p>\n

But the overall market is not in panic mode. The VIX is at 25.5 and junk bonds trade in a normal range.<\/p>\n

Commercial real estate might be the next big problem. They make up 24% of all bank loans, and many are at risk of default.<\/p>\n

SCOREBOARD<\/strong><\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MARKET RECAP In the midst of the continuing bank chaos, gold hit an 11-month high, and bitcoin rose to over $27,000 from about $20,000 last week. The S&P was up 1.4% for the week but down 3.2% over the past … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1893,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4929","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/users\/1893"}],"replies":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4929"}],"version-history":[{"count":4,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4929\/revisions"}],"predecessor-version":[{"id":4935,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/4929\/revisions\/4935"}],"wp:attachment":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}