In this week’s Monthly Market Review, we have included commentary on the debt ceiling dilemma.

As the Fed’s immediate priorities shift from inflation to banking stability, the market has taken expectations for future rate hikes beyond May to zero and is now predicting cuts by year-end. Meanwhile, the potential for a breach of the debt ceiling is increasing. As the market searches for conviction amid so much uncertainty, each new piece of data has potential to drive an increase in volatility.

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