Today’s (Wednesday 15 March 2023) Spring Budget was largely relegated to a side-show by equity markets thanks to the collapse of Silicon Valley Bank in the US

Markets got off to a slow start this week, failing to make traction with investors weighing in on Fed Chair, Jerome Powell, who spoke on Tuesday (7 March 2023) before the Senate Banking, Housing and Urban Affairs Committee

Markets rose from their lows of last week on Monday (27 February) after Prime Minister Rishi Sunak reached a new trade deal with the European Commission president after four months of negotiations.

Markets got off to a slow start this week with the US markets closed on Monday for Presidents Day.

Markets focus this week remained heavily on US and UK CPI data.

Global equity markets have had a positive start to the week thanks to better-than-expected company earning statements and comments from the Fed Chair, Jay Powell.

Investors continue to weigh on comments from Fed officials this week whilst keeping a close eye on corporate earnings.

There has been a lot of economic data releases so far this week whilst trading has been low with the US market closed on Monday to mark Martin Luther King Day.

Markets had a strong start to the year.

The UK’s FTSE 100 touched its highest level since 2018.

The Bank of Japan (BoJ) surprised markets on Tuesday with an unexpected change to its bond yield control. The Yen rallied following the decision, allowing Japan’s 10-year bond yields to rise to around 0.5%, up from the previous limit of 0.25% which will enable long-term interest rates to rise.