Fixed Income Market Overview

On Friday, the U.S. dollar surged to its peak since November, driven by a surge in safe-haven interest due to geopolitical tensions in the Middle East and a growing contrast in  monetary strategies between the Federal Reserve and other significant central banks. U.S. Treasury yields decreased as investors analyzed economic indicators, including inflation data, and contemplated future interest rate adjustments. Despite the decline, yields remained significantly higher for the week. Import prices surged in early 2024, largely driven by a sharp increase in fuel costs. Meanwhile, the March producer price index, reflecting wholesale inflation, was slightly below expectations, alleviating concerns about persistent inflation pressures. Market expectations for rate cuts shifted from June to September after recent data releases, with some investors considering the possibility of no rate cuts this year. The Federal Reserve reiterated its stance that any rate adjustments will be guided by data, particularly inflation trends.

icon-oneBiden administration to forgive $7.4 billion in student debt for another 277,000 borrowers..
icon-twoDenver-Boulder area aims to be the Silicon Valley of the future.
icon-threeBank of England to scrap outdated inflation forecasting model in major overhaul after Fed boss’ review.
icon-fourAsia markets largely fall as U.S. inflation stokes higher-forlonger rate worries; China CPI slows.
icon-fiveChina will remain the world’s No. 1 growth driver, says the Asian Development Bank.


Major Indicies

Symbol Price Change %Change
DJIA 37,983.24 -475.84 -1.24%↓
NASDAQ 18,003.49 -304.49 -1.66%↓
SNP 500 5,123.41 -75.65 -1.46%↓
NIKKEI 39,523.55 80.92 0.21%↑
VIX 17.31 2.40 16.10%↑
HIS 16,721.69 -373.34 -2.18%↓


Name Yeild CHG
US 10-YR 4.53% -0.06
US 30-YR 4.63% -0.05
US 5-YR 4.57% -0.07
JPN 10-YR 0.87% 0.01
UK 10-YR 4.14% -0.06

Futures & Commodities

Name Last Change %Change
WTI CRUDE 85.66 0.64 0.75%↑
NAT GAS 1.770 0.006 0.34%↑
GOLD 2,374.10 1.40 0.06%↑
SILVER 28.33 0.08 0.28%↑
COPPER 4.259 0.005 0.13%↑
Data and Content as of Previous Closing Day. Source: MarketWatch

Equity Market Overview

On Friday, U.S. stocks plummeted as JPMorgan Chase and other major banks announced their first-quarter results. The Nasdaq Composite dropped 1.6%, ending the week down 0.5%,  while the S&P 500 fell 1.5%, marking a weekly decline of 1.6%. The Dow Jones Industrial Average recorded its worst week in over a year, slipping 2.4% for the week after a 1.2%decline on Friday.

JPMorgan Chase’s stock plummeted after reporting lower-than-expected first-quarter net interest income, while BlackRock also slid despite beating earnings estimates. JPMorgan  Chase saw its biggest one-day decline since June 2020, dropping 6.5% after warning of continued pressure on profitability due to net interest income falling short of estimates.

Apple continued its upward trajectory, climbing 0.9% on reports of plans to revamp its Mac product line. Intel fell 5.2% after reports of the Chinese government’s directive to phase out U.S.-made  chips. Chevron slipped 1.8% following warnings from Hess about delays in its acquisition due to arbitration with ExxonMobil.

Amidst the downturn, State Street rose 2.5% after surpassing first-quarter revenue estimates, while Progressive climbed 0.8% after reporting  better-than-expected earnings. Chipmakers struggled, with Onsemi falling 5.6%, Micron shedding 3.9%, and Texas Instruments losing 2.8%. The CBOE Volatility Index (VIX) surged to its highest level since late October, reflecting market unease following Wednesday’s inflation data. Despite the day’s spike, the VIX remains consistent with its 10-year average.

Latest Update: Apr 17, 2024