March 2024 and 1Q24 in Figures
March 31, 2024
The dollar, ten-year sovereign debt yields, and equities and commodity prices rose in the first quarter. The Swiss National Bank became the first major developed economy central bank to lower interest rates in this cycle, and the Bank of Japan became the last to abandon a negative short-term interest rate. The Fed pushed out the likely onset of a cycle of rate reductions and also prepared markets to expect fewer cuts in 2024 and 2025.
| 10-Yr Yield | 03/29/24 | March Chg | 1st Qtr Change |
| U.S. | 4.20% | -7 Basis Points | +32 Basis Points |
| Germany | 2.30% | -11 | +28 |
| Japan | 0.72% | +2 | +12 |
| U.K. | 3.93% | -19 | +41 |
| Canada | 3.46% | -3 | +36 |
| Switzerland | 0.56% | -14 | -5 |
| CB Policy Rate | 03/29/24 | Chg in March | 1st Qtr Change |
| Fed funds target | 5.25/5.50% | 0 basis points | 0 basis points |
| ECB refi rate | 4.50% | 0 | 0 |
| BOJ policy rate | 0.0 to 0.10% | +10/20 | +10/20 |
| BOE Bank Rate | 5.25% | 0 | 0 |
| Swiss Policy Rate | +1.50% | -25 | -25 |
| FX | 03/29/24 | Feb Chg in $ | 1Q Chg in $ |
| EUR/USD | 1.0790 | +0.2% | +2.3% |
| USD/JPY | 151.37 | +1.0% | +7.3% |
| USD/CHF | 0.9022 | +2.0% | +7.3% |
| GBP/USD | 1.2619 | -0.0% | +1.0% |
| AUD/USD | 0.6521 | -0.3% | +4.5% |
| NZD/USD | 0.5983 | +1.8% | +5.7% |
| USD/CAD | 1.3545 | -0.2% | +2.2% |
| USD/CNY | 7.2212 | +0.5% | +4.7% |
| Equities | 03/29/24 | Chg in March | 1st Qtr Chg |
| S&P 500 | 5259 | +3.2% | +10.2% |
| Nasdaq | 18322 | +13.9% | +22.1% |
| Djia | 39843 | +2.2% | +5.7% |
| Dax | 18492 | +4.5% | +10.4% |
| Nikkei | 40369 | +3.1% | +20.6% |
| Ftse | 7953 | +4.2% | +2.8% |
| Canada TSE | 22203 | +3.9% | +6.0% |
| Swiss SMI | 11730 | +2.5% | +5.3% |
| Commodities | 03/29/24 | Chg in March | 1st Qtr Chg |
| Oil, $ per barrel | 78.26 | +6.3% | +16.1% |
| Gold, $ per ounce
Bitcoin, $ |
2238.4
71081 |
+9.8%
+16.2% |
+8.0%
+66.1% |
Copyright Larry Greenberg 2024. All rights reserved. No secondary distribution without express permission.
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