# Market stress indicators react sharply after U.S. bank failures

> 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.

- Date: 2023-03-13 · published 2023-03-13T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/10081-market-stress-indicators-react-sharply-after-u-s-bank-failures
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Broad financial stress shifts capital toward safe havens and raises funding costs, adding volatility to commodity markets and making feed importers' hedging more expensive.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2018-09-24 | [Euro rises sharply as ECB's Draghi views tighter labor market](https://feedsoft.ai/events/63251-euro-rises-sharply-as-ecb-s-draghi-views-tighter-labor-market.md) | -1.0% | -2.3% |
| EURUSD | 2019-06-06 | [Forex Market: Euro strengthens after ECB dashes dovish hopes](https://feedsoft.ai/events/58806-forex-market-euro-strengthens-after-ecb-dashes-dovish-hopes.md) | +0.6% | +0.3% |
| EURUSD | 2023-03-26 | [Banking stress puts U.S. and Europe on watch for credit crunch \| Reuters](https://feedsoft.ai/events/37074-banking-stress-puts-u-s-and-europe-on-watch-for-credit-crunch-reuters.md) | +1.0% | +2.0% |
| EURUSD | 2022-06-30 | [Euro under pressure as inflation fears send investors to dollar haven - Markets - Business Recorder](https://feedsoft.ai/events/41161-euro-under-pressure-as-inflation-fears-send-investors-to-dollar-haven-markets.md) | -3.0% | -3.0% |
| EURUSD | 2020-07-30 | [Forex markets: Dollar, U.S. Federal Reserve in focus](https://feedsoft.ai/events/52297-forex-markets-dollar-u-s-federal-reserve-in-focus.md) | +1.1% | +0.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/market-stress-indicators-begin-flash-wake-svb-collapse-2023-03-13/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.