Greetings,

The United States: Treasury yields are down sharply over the past couple of days.

The market has massively repriced Fed rate hike expectations. 50 bps this month looks unlikely now.

Equities: Big banks have been the beneficiaries of SVB’s troubles (as deposits flow in their direction).

Here is last week’s performance data across sectors.

Credit: This chart shows mark-to-market losses in the overall banking system.

Canada: The employment report was stronger than expected.

Emerging Markets: EM debt sales have slowed.

Food for Thought: To conclude, here are different ballistic missile trajectories:

Edited by William Villacis

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