10 April 2023
Monthly Market review – Download Article
The spectre of a banking crisis returned to haunt markets in the first quarter of the year, overshadowing all else.
Almost exactly one year on from the Fed’s first increase in interest rates in what has become the steepest and
fastest tightening cycle in over 40 years, something significant was broken, with the collapse in March of two
mid-sized banks in the US and the fall of the much bigger Credit Suisse into the hands of its Swiss rival UBS, a
transaction orchestrated by Swiss regulators