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Each month, senior leaders of Hancock Whitney's Asset Management team discuss the latest news and events that impact markets and the economy.
This month:
Recent bank failures have roiled financial markets as the U.S. economy limps along amid concerns about tighter credit conditions.
Watch and listen to the webinar:
Key Takeaways:
- First quarter earnings season starts next week with a low bar for success from a market expectations perspective.
- Recent bank failures roiled financial markets, particularly the banking sector, and while the broader market appears to have stabilized and returned to focus on economic fundamentals, there may be lingering effects on credit availability that cloud the economic outlook.
- Moderate economic activity in February/March supports our hypothesis that the January strength was a seasonal adjustment outlier. U.S. economy is limping along and vulnerable to tighter credit conditions in the banking system.
- Many market participants were surprised the Fed raised the Federal Funds Rate amidst the banking sector turmoil.
- The Fed’s challenge is to maintain the campaign against inflation and fulfill its lender of last resort mandate to provide liquidity to struggling banks.
- What does the Fed Funds trajectory look like going forward? Do we expect another hike?
- An update on the war in the Ukraine, the expansion of NATO and how the conflict continues to affect global markets.
- Context for the looming debt ceiling negotiations was provided in the Congressional Budget Office updated outlook for the federal deficit, spotlighting FY23 at the largest full employment deficit in U.S. history, with the longer-term outlook burdened by a variety of unsustainable aspects, prominently including Medicare insolvency by 2028.
- A detailed discussion on tax increases in the Biden Administration’s FY24 budget proposal – income, capital gains, small businesses and estates – from a personal trust guest panelist.
The Hancock Whitney Asset Management team is ready to help guide your portfolio through market uncertainty to help you achieve your investment goals. Talk to a Private Banker today.
For an in-depth look at the major economic themes and stories from Q1 2023, download our special report.
The information, views, opinions, and positions expressed by the author(s), presenter(s), and/or presented in the article are those of the author or individual who made the statement and do not necessarily reflect the policies, views, opinions, and positions of Hancock Whitney Bank. Hancock Whitney makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented.
This information is general in nature and is provided for educational purposes only. Information provided and statements made should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. Hancock Whitney Bank encourages you to consult a professional for advice applicable to your specific situation.
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