The major US equities indices were mostly lower over a holiday-shortened week that was characterized by light and choppy trading. Several important economic releases weighed on sentiment. On Monday, the ISM gauge of March factory activity fell back to a nearly three-year low. The ISM’s services sector gauge, released two days later, indicated that the services sector was still expanding, but at a significantly slower-than-expected pace.

In the US, more than $500 billion was invested in money market funds in the first quarter

US equities posted solid gains in a relatively quiet week for economic data releases and financial news. Small-caps outperformed large-caps, and value stocks advanced modestly more than growth stocks. Rising oil prices boosted energy stocks. U.S. WTI crude oil rose more than 9% for the week, climbing back above the USD 70 per barrel level. Over the quarter, the Nasdaq Composite index jumped more than 16%, while the S&P 500 Index rose approximately 7%.

Merged UBS and Credit Suisse to become world’s third biggest asset manager, the Fed’s balance sheet swells, while a systemic credit event is perceived as a very real risk by fund managers. Each week, the Syz investment team takes you through the last seven days in seven charts.

US equity returns varied widely over the week as banking industry and recession worries weighed on value stocks and small-caps, while large-cap growth stocks benefited from falling interest rates. Financials underperformed for a third consecutive week while the average stock remained significantly weaker than the S&P 500 Index’s return suggests.

UBS and Credit Suisse strike a deal UBS to buy Credit Suisse for 3 billion Swiss francs, volatility is more visible in the bond markets than in the equity markets and Bitcoin takes advantage of the banking crisis. Each week, the Syz investment team takes you through the last seven days in seven charts.

US stocks closed mixed for the week, reflecting the crosscurrents of stresses in the banking sector, worries that a steeper slowdown in the economy would follow, and hopes that the Fed would now be forced to pause its rate-hiking cycle. Sector returns within the S&P 500 Index varied widely: mega-cap tech stocks recorded strong gains while financials and energy shares suffered significant losses.

SVB failure - the knock-on effect on US regional banks The KBW index of US regional banks lost nearly 18% of its value last week, following the failure of Silicon Valley Bank. Each week, the Syz investment team takes you through the last seven days in seven charts.

Stocks pulled back sharply over the week, as investors absorbed more hawkish talks from Jerome Powell and signs that the Fed still had work to do in cooling inflation. The S&P 500 Index fell on Friday to its lowest intraday level since January 5 as the selling accelerated after the index broke both its 100-day and 200-day moving averages. Financials led the declines and contributed to the pronounced weakness in value stocks.

After US rebound, global markets follow suit. The bond market takes another hit, while commodities underperformed compared to other major asset classes. Here are ten stories to remember from February 2023.