{"id":4389,"date":"2023-04-20T15:30:14","date_gmt":"2023-04-20T13:30:14","guid":{"rendered":"https:\/\/spin.nl\/ongecategoriseerd\/market-developments-march-2023\/"},"modified":"2023-04-20T15:30:14","modified_gmt":"2023-04-20T13:30:14","slug":"market-developments-march-2023","status":"publish","type":"post","link":"https:\/\/spin.nl\/en\/ongecategoriseerd\/market-developments-march-2023\/","title":{"rendered":"Market Developments March 2023"},"content":{"rendered":"<p><strong>March was marked by turmoil in the financial sector. Three banks in the United States went bankrupt (including Silicon Valley Bank). Confidence in banks was completely gone for a while, including in Europe. Under pressure from the Swiss government, Swiss bank UBS acquired its industry peer Credit Suisse in an attempt to regain confidence in the global financial system. As a result of the turmoil surrounding banks, safe investments such as government bonds were in demand and experienced positive returns. More risky bonds were lower. Equities were virtually unchanged.        <\/strong><\/p>\n<p><strong> <\/strong><strong>Shares<\/strong><\/p>\n<p>At the aggregate level, equity markets looked stable in March. The MSCI All Countries World Index rose 0.6% (measured in euros) in March. Remarkably, this was due to equal results for emerging markets and developed markets (+0.6%, that is). Within developed markets, Europe (-0.1%) and Pacific excluding Japan (-1.8%) were negative. The winners were North America (+0.9%) and Japan (+1.5%). Among emerging markets, Latin America (-1.6%) was the least performing region. However, most were positive, including Asia (+1.1%). At the sector level, it is not surprising that financials were in the rear, lagging considerably behind winners such as IT and telecom. In terms of style, we saw that &#8220;growth&#8221; outperformed &#8220;value.        <\/p>\n<p><strong>Bonds<\/strong><\/p>\n<p>The flight to safe government bonds caused interest rates to fall sharply in March. German 10-year rates fell 0.36% to 2.29%. In the U.S., the effect was even slightly larger, the 10-year rate there fell 0.46% to 3.47%. It also manifested itself in risk premiums, which rose in March. The premium for less risky corporate bonds was up 0.21% to 1.68%. The increase in the premium for more risky corporate bonds (+0.47% to 5.01%) was slightly larger, slightly more than for emerging market government bonds (+0.37% to 4.84)%.     <\/p>\n","protected":false},"excerpt":{"rendered":"<p>March was marked by turmoil in the financial sector. Three banks in the United States went bankrupt (including Silicon Valley Bank). Confidence in banks was completely gone for a while, including in Europe. Under pressure from the Swiss government, Swiss bank UBS acquired its industry peer Credit Suisse in an attempt to regain confidence in&#8230;<\/p>\n","protected":false},"author":8,"featured_media":4370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1,35],"tags":[],"class_list":["post-4389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ongecategoriseerd","category-page"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market Developments March 2023 - Stichting Pensioenfonds IBM Nederland%<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spin.nl\/en\/ongecategoriseerd\/market-developments-march-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Developments March 2023 - Stichting Pensioenfonds IBM Nederland%\" \/>\n<meta property=\"og:description\" content=\"March was marked by turmoil in the financial sector. 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