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Mar 02, 2022

February 2022

Provided by YCharts

Equities continued to slide lower
, with the S&P 500 falling 3% and the Nasdaq 3.4%. Once again, Energy was the only positive sector in February, adding another 7.1% to last month’s 18.8% surge. Interest rate-sensitive sectors such as Communication Services, Technology, and Real Estate took the worst hits in February.

Treasury rates got a big boost in February as investors fled to safety, largely due to uncertainty caused by the Russian invasion of Ukraine. T-Bills (1-Month Treasury Rate) doubled from 0.03% to 0.06%, while the 2-Year gained 26 basis points, the most of any US treasury rate, up from1.52% to 1.79%. Federal Reserve officials also signaled a March rate hike is still the plan. Around the world, the yields of both Canada’s and Italy’s long-term bonds surpassed the US 10-Year, while Germany’s long-term rate re-entered positive territory.

Inflation climbed for the fifth straight month, registering a level of 7.5%. The price of gold rose by 5% in February, and oil continued its climb toward $100. In the housing market, the number of new single-family houses sold receded 4.5% month-over-month, yet the supply of existing homes reached another all-time low.

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