Monday's Market Update (April 17, 2023)

18 Apr 2023 by rate3

On Monday, the NY Fed reported that new orders and shipments had surged in the state, bringing April's Empire State Manufacturing Index to its five-month high of +10.8. The previous reading was -24.6, while most economists had projected -16. Meanwhile, short-term Treasuries continued to climb higher, with 3-month Bills yielding 5.19 percent, while 6-months settled on 4.87, indicating traders' more positive expectations towards the depth and length of the upcoming recession.

However, that had already been priced in by the markets, and the NASDAQ reacted by sluggishly adding 0.4 percent to its morning opening (o: 12108, c: 12157), while BTC just ranged (o: 29529, c: 29467).