By: Jeffrey Buchbinder, CFA, Chief Equity Strategist, LPL Financial & Adam Turnquist, CMT, Chief Technical Strategist, LPL Financial
Last week did not play out how we anticipated. Coming into the week, it was all about Federal Reserve (Fed) Chair Jerome Powell’s congressional testimony and the February jobs report. Instead, we got a shockingly fast collapse of a financial institution with over $200 billion in assets, which turned the market’s focus toward the stability of the banking system and what systemic risks banks might be facing. This commentary is focused on our asset allocation views, but no doubt the Silicon Valley Bank saga will require more attention from investors in the days ahead.
Read the full commentary here: weekly-market-commentary-03.13.2023