Welcome back to the Monthly Market Wrap from YCharts, where we break down the most important trends for advisors and their clients in this monthly market review. As always, feel free to download and share any visuals with clients and colleagues, or on social media.
US Treasury yields broke 5% once again. The 3-Month and 6-Month Treasury Bills were the two durations to surpass 5% in April, at 5.18% and 5.06% respectively. April marked the 3-Month’s highest level for the since February 2007. The 5-Year’s yield of 3.51% was the lowest on the curve. Lastly, the 10 Year-3 Month Treasury Yield spread sunk to -1.65%, marking the spread’s largest inversion in history.
The price of gold was flat MoM despite exceeding $2,000 per ounce within April. Gold clocked in at $2,048.50 midway through April, but ended the month back at $1,979.70. Oil prices rebounded; the price of WTI per barrel rose 3.9% to $78.64 and Brent surged 6.4% to $84.23. Both types of crude oil are down over 36% from their highs set in March of 2022. Higher oil prices led to the average price of regular gas increasing 24 cents per gallon, to $3.77 at the end of April.
The crypto bull run continued in April as the price of Bitcoin rose 4.7% in April, while Ethereum added 5.2%. Year-to-date, Bitcoin is up 76.4%, Ethereum is 56.9% higher, and neither has recorded a down month so far in 2023.