Sector performance followed a similar path, with all but one sector falling by more than 3% in March. The lone exception was Energy, which advanced 10.3% due to energy constraints resulting from the U.S. strikes on Iran in late February. This marks two consecutive months of near 10% gains in this sector.
The Federal Reserve’s next meeting is scheduled for April 29th, though expectations for any rate cut remain muted at less than 1%. Nonfarm payrolls fell by a worrisome 92,000 jobs in the same period which the unemployment rate ticked up by 0.1 percentage points to 4.4%.
The Median Sales Price of Existing Homes increased modestly to $398,000, though US New Single-Family Home Sales experienced its worst MoM decline in nearly 13 years, falling 17.56% in January. The US inflation rate remained unchanged in February at 2.40%, as did core inflation at 2.50%.
Treasury yields rose sharply in March, with the 1-month the lone exception, remaining unchanged at 3.74%. The 3-year saw the biggest advancement, up 42 bps to 3.81%. The 2-, 5-, 10-, and 20-year all ticked up by more than 30 bps.
Continue Reading: https://get.ycharts.com/resources/blog/monthly-market-wrap/
Cerro Pacific Wealth Advisors LLC is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Cerro Pacific Wealth Advisors LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Cerro Pacific Wealth Advisors LLC unless a client service agreement is in place.
