BlogsEnd Of Day Report March 10th

US Unemployment Rate* (Feb) 3.6% vs. Exp. 3.4% (Prev. 3.4%)Morning Market Report – 13 March 2023

Darren Krett

Friday 10 March 2023

Share on:

Morning Market Report – 13 March 2023 facebookMorning Market Report – 13 March 2023 twitterMorning Market Report – 13 March 2023 linkedin

End Of Day Report March 10th


closing report


-	Silicon Valley Bank "SVB" (SIVB): Contagion fears spark a global banking sell-off 
-	Although it has been suggested that some of the contagion panic seen across larger “systemically important” US banks yesterday was 
-	SVB Financial Group (SIVB) plunged 60% on Thursday and even further in pre-market trade before being halted.
-	US Treasury Secretary Yellen and financial regulators convened today and expressed reliance in the banking system resilience, says 
        regulators have effective tools to address this type of event
-	Manchester United (MANU) sale deadline has been pushed back to the Summer, according to The Telegraph
-	US Treasury Secretary Yellen says prioritisation of debt payments without debt ceiling increase is simply default by another name
-	Stocks add to losses as financials dive while dovish aspects of NFP fail to support the market
-	US Non-Farm Payrolls* (Feb) 311k vs. Exp. 205.0k (Prev. 517.0k, Rev. 504k); two-month net revisions: -34k (prev. +71k)
-	US Average Earnings YY* (Feb) 4.6% vs. Exp. 4.7% (Prev. 4.4%)


Down the rabbit hole we go……

For the first time since 2007, the two-year Treasury yield has increased by more than 5 percent. But the 10-year yield has barely moved up.By Wednesday, the spread had widened to negative 107 basis points — an extreme pattern seen only once before, in 1980 — when Paul Volcker, then Fed chair, was unleashing shock therapy.

 There have been 28 instances since 1900 where the yield curve has inverted; In 22 of these episodes, recession has followed.
And yet there is precious little evidence so far that we are indeed heading into a recession even if there are signs of rising consumer stress. As Powell noted this week, the labor market is red hot.

 Worries about distress at Silicon Valley Bank, and potential risks in the broader distress in the banking system have weighed on shares and the debt of financial companies and saw the SFRH4 rally 65 Basis Points off its low ,while the yield on the 2-year Treasury yield fell by more than 20 basis points on Friday to below 4.7%, and headed for its biggest two-day drop since the Great Financial Crisis.Earlier in the day, the 2-year yield declined 27.6 basis points to 4.624%, putting it on pace for the biggest two-day drop since Sept. 29, 2008.
But to expect a soft landing with a combination of higher rates and no recession , may be somewhat optimistic. History tells us that when investors start invoking the phrase “this time is different,” they’re also often completely wrong. 

Market Snapshot


On The Ticket Monday


What Came Out Today


Related reads

Closing Report
END OF DAY REPORT March 7th-image

Darren Krett

Tuesday 7 March 2023


Get a comprehensive overview on the economic climate in one convenient report.


Comments (0)

Closing Report
End OF Day Report March 8th-image

Darren Krett

Wednesday 8 March 2023

End OF Day Report March 8th

Stay informed with this comprehensive report covering the financial market insights and important developments.

Get started with Leviathan FM today

7 day free trialContact us
See our pricing

© 2015 - 2024 Leviathan Financial Management LLC. All Rights Reserved.

Legal Disclaimer: The information provided in the Leviathan website is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial advisor professional to determine what may be best for your individual needs. Leviathan Financial Management does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. To the maximum extent permitted by law, Leviathan Financial Management disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. Content contained on or made available through the website is not intended to and does not constitute legal advice or investment advice. Your use of the information on the website or materials linked from the Web is at your own risk.