Market Commentary: March 2016

Financial markets steadied through the end of February and into early March, led by stabilizing oil prices, relief in the exchange value of the Chinese yuan and other emerging market currencies, and some improved domestic economic data points. Stronger retail sales, industrial production and jobless claims helped alleviate near-term recession fears. Fourth quarter gross domestic product (GDP) growth was revised slightly higher to 1 percent, and first quarter GDP appears in line with the modest trend of the past several years.