John Hancock: Weekly Market Recap Week Ended March 31

Yields rebound

Yields of U.S. government bonds rose, snapping a string of three consecutive weekly declines. The yield of the 10-year U.S. Treasury bond rose to about 3.49% on Friday—up from 3.38% at the end of the previous week but down sharply from a recent peak of 4.07% on March 2.

Calming effect

An index that measures investors’ expectations of short-term U.S. stock market volatility fell sharply for the second week in a row as easing concerns about banks’ financial stability took some of the edge off the broader market. On Friday, the Cboe Volatility Index fell to a level that was 29% below a recent closing high on March 13.

Consumer worries

A gauge of U.S. consumer sentiment fell sharply, recording the first decline in four months. The University of Michigan said on Friday that its survey indicated a growing number of consumers expect a recession is ahead, although their near-term views of inflation moderated.

Jobs ahead

A labor market update due out on Friday will show whether the strong jobs numbers recorded in recent months extended into March. The most recent report showed that the U.S. economy generated 311,000 new jobs in February—above most economists’ expectations but below January’s gain of 504,000.

Source: https://wmr.jhinvestments.com/