Economic stresses began to appear during the first quarter, capped by the second-largest bank failure in U.S. history (Silicon Valley Bank), as rising rates, tighter lending conditions and shrinking liquidity weighed on economic growth. Despite the turmoil, global equity markets held up remarkably well in March and posted solid returns for the quarter.
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Welcome to “The Week Ahead” where we take a moment to provide our thoughts on what we can expect in markets and the economy during the upcoming week.
Both my sons were out of school for spring break last week, and while we did not go out of town, we did something local almost every day. The highlight was undoubtedly visiting an escape room. For those who have never tried one, I highly recommend it. We had an hour to figure out the clues left..
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Traditionally, the month of April causes much angst and nervousness, since tax returns and payments are normally due on April 15, Tax Day. Nevertheless, due to the severe winter storms and snowfall in California last year and early this year, the IRS and the California Franchise Tax Board (FTB) have extended the deadline for tax filings and payments for the 2022 tax year for Californians who are residents or have businesses..
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