Weekly Analyst Update — March 15th

  • That translated into new record highs for some major stock indices.
  • The DJ30 led the way, advancing 4.1%. Both value and growth benchmarks advanced, and small cap stocks outperformed during the week.
  • A rebound in tech stocks combined with economically sensitive names advancing drove markets higher, as the SPX500 advanced 2.6% and the NASDAQ climbed 3.1%.
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  • The Fed’s meeting is widely expected to yield no change in interest rates, but investors will be looking for insight into how the central bank is thinking about recent movements in long-term Treasury yields.
  • The Bank of Japan, according to Reuters, is facing down a tough policy review towards the end of the week. Guidance on what the BoJ is willing to tolerate in terms of volatility in long-term bond yields will be one point to watch.
  • However, prices later showed a correction.
  • There are several factors at the moment supporting the oil price, such as the weak USD and the general rotation from growth stocks to cyclical.
  • Commodities tend to benefit during these times and are often used as an inflation hedge given they are asset-backed and the underlying rises with it.
  • Recovering global demand, reduced mobility restrictions, drawdown in inventories and some potential geopolitical tension in the middle east are all factors that boost prices.
  • Moreover, OPEC has pledged to keep supply cuts through April.
  • Increasing concerns around inflation and rising levels of debt could bode well for the crypto market going forward.
  • On the institutional front, a rumour at Oracle has purchased $4 billion worth of Bitcoin was quashed in the company’s earnings call this week.
Delta has partnered with eToro to allow users to invest via an accredited and bespoke platform.
  • Fed quarterly Economic Projection; New Zealand quarterly GDP data (Wednesday)
  • Bank of England Monetary Policy Summary and Official Bank Rate (Thursday)
  • Bank of Japan Monetary policy statement (Friday)

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