March 2023 and First Quarter in Figures
April 1, 2023
Central bank interest rates continued to climb in the first quarter, but longer-term rates fell amid worries about the health of banks and mounting expectations that a recession lies ahead. Recessionary fears were not evident in equity market behavior, however, as the quarter showed a decent rebound after last year’s relentless difficulties. The price of gold experiences a strong performance in March, but the cost of oil continued to decline in line with talk about a coming recession. Caught in many cross-currents, net dollar changes in the first quarter were inconsequential despite frequent day-to-day and week-to-week volatility.
| 10-Yr Yield | 03/31/23 | 1st Qtr Chg | March Change |
| U.S. | 3.47% | -40 Basis Pts | -44 Basis Points |
| Germany | 2.29% | -27 | -35 |
| Japan | 0.20% | -20 | -29 |
| U.K. | 3.48% | -18 | -34 |
| Canada | 2.90% | -40 | -43 |
| Switzerland | 1.15% | -39 | -25 |
| CB Policy Rate | 03/31/23 | 1st Qtr Chg | March Change |
| Fed funds target | 4.75/5.00% | +50 Basis Points | +25 Basis Points |
| ECB refi rate | 3.50% | +100 | +50 |
| BOJ policy rate | -0.10% | 0 | 0 |
| BOE Bank Rate | 4.25% | +75 | +25 |
| Swiss 3M Libor | 1.50% | +50 | +50 |
| FX | 03/31/23 | 1Q Chg in $ | Mar Chg in $ |
| EUR/USD | 1.0841 | -1.2% | -2.4% |
| USD/JPY | 132.36 | +0.8% | -2.8% |
| USD/CHF | 0.9150 | -1.0% | -2.9% |
| GBP/USD | 1.2329 | -2.3% | -2.5% |
| AUD/USD | 0.6684 | +1.9% | +0.6% |
| NZD/USD | 0.6253 | +1.5% | -1.1% |
| USD/CAD | 1.3515 | -0.2% | -1.0% |
| USD/CNY | 6.8688 | -0.4% | -0.9% |
| Equities | 03/31/23 | 1st Qtr Chg | Mar Chg in $ |
| S&P 500 | 4169 | +8.6% | +4.9% |
| Nasdaq | 12222 | +16.8% | +6.7% |
| Djia | 33274 | +0.4% | +1.9% |
| Dax | 15629 | +12.2% | +1.7% |
| Nikkei | 28041 | +7.5% | +2.2% |
| Ftse | 7652 | +2.7% | -2.8% |
| Canada TSE | 20100 | +3.7% | -0.6% |
| Swiss SMI | 11106 | +3.5% | +0.1% |
| Commodities | 03/31/23 | 1st Qtr Chg | Mar Chg in $ |
| Oil, $ per barrel | 75.67 | -5.7% | -1.8% |
| Gold, $ per ounce | 1986.20 | +8.8% | +8.1% |
Copyright Larry Greenberg 2023. All rights reserved. No secondary distribution without express permission.
Tags: movements in the dollar and other financial market indicators
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