🎉Market Insights & Outlook [Issue #1: March 2023, Week 13]
💥Current recession risk, mortgage rate predictions, S&P 500 technical analysis and more!
👋 Hello and good morning finance enthusiasts, I hope you all had a wonderful weekend! In this edition, we'll highlight this week’s top three finance headlines, mortgage rate predictions, technical analysis of the S&P 500 and Bitcoin, S&P 500 short interest, and assess the current risk of a recession.
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1. 📈 Top 3 finance headlines this week:
Economists have estimated that 186 banks could be exposed to the same risks that impacted Silicon Valley Bank. This past week, small US banks have turned to the Federal Reserve for assistance, borrowing $164.8 billion. This amount surpasses the previous record of $111 billion set in 2008.
Eleven leading US banks, such as Bank of America, Citigroup, J.P. Morgan Chase, and Wells Fargo, have come together to provide a $30 billion support package to First Republic Bank. This collaborative rescue e…
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