Market Commentary

Q1, 2023


As of April 17, 2023

  • Both U.S. and international equity markets rallied in the last few days of March to end the month (and the quarter) with positive returns.
  • As long-term interest rates stabilized, U.S. bonds recovered most of February’s losses, ending the quarter at January-month-end levels.
  • Despite a barrage of economic and policy news, the quarter will be remembered most for the failures of Silicon Valley Bank and Signature Bank.
  • Recent bank failures are more a symptom of the Fed’s rapid rate hiking cycle than systemic solvency risk, but they are leading to a sharp contraction in lending that could increase the risks of a recession.

For additional market insights, download our complete market commentary report.

This material is provided to advisors by Mount Yale Investment Advisors, LLC and contains market commentary from third-party sources it believes to be reliable. However, Mount Yale has not independently verified or otherwise investigated such information and makes no guarantee as to its accuracy or completeness.  In the event any of the assumptions used herein prove not to be true, results may vary substantially. All investments entail risks. Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.  Indexes are unmanaged, do not incur management fees, costs and expenses and cannot be invested indirectly.  The information contained herein constitutes general information and is not directed to, designed for, or individually tailored to, any particular investor or potential investor.  It is not intended to be a client-specific suitability or best interest analysis or recommendation, an offer to participate in any investment, or a recommendation to buy, hold or sell securities.

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