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US bank failures pushed market stress indicators sharply higher, with volatility reaching its highest since October and gold touching a six-week high. The gap between two-year euro swap rates and German bond yields widened about 20 basis points.
Broad financial stress shifts capital toward safe havens and raises funding costs, adding volatility to commodity markets and making feed importers' hedging more expensive.
reuters.comAmanda CooperMar 13, 2023After 1,108 past macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (46% higher; middle half -0.7% to +0.6%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
