Summary

US economy grows 1.1% in Q1, GDP slower than expected: U.S. economic activity in the first quarter of 2023 grew at an annualized pace of 1.1%, a slower pace than expected and showing that the economy is slowing down as the Federal Reserve considers a further interest rate increase on May 3.

Summary

The end of March saw Core PCE numbers come in lower than expected, but still showing inflation at twice the rate of the Fed’s 2% target. The US 10 yr. interest rate closed exactly at 3.50%, and the market saw the end of Q1 equity portfolio window dressing as $'s flowed back into equities. Nasdaq is up by approximately +17% YTD, and the often reliable Fear & Greed Index — which tracks what sentiment and emotions are driving the markets — is now back to neutral.