A regional bank caught up in the March banking crisis has been forcibly sold by an American regulator. Hopefully this marks the end of the chapter.

Investors are fearful of an earnings recession as reporting season steams ahead. Meanwhile, China’s first-quarter GDP estimate suggests its recovery is proving uneven.

Markets are riven over weighty questions about the economic strength of our households and businesses clashing with higher living costs, and all the while lurks the menace of unknown consequences created by a rapidly changed world.

Money was easy to come by in the 2010s, for businesses, households and governments. With interest rates now much higher, hard decisions loom.

Stocks and bonds ended the month – and first quarter –nearing the top ends of the trading ranges in place since late last year. But there’s still much uncertainty about the inflation and growth outlook, particularly if energy prices start rising again.

Strong gains for Europe’s banks last week were reversed by Friday’s close. With the fear bug spreading, can we be confident it won’t strike again?

Banks are very powerful, but very fragile. That’s because they are dependent on people and their ability to believe.

A new deal for the Northern Irish border is imminent, bringing hope of greater clarity on Brexit for the UK. Meanwhile, the outlook for global inflation only gets foggier.

The war in Ukraine has caused misery in Eastern Europe, upended global trade and sharpened world politics. An era of cheap hydrocarbons is now behind us, and further energy shocks could be on the horizon.

After years of upheaval, huge stimulus and changing habits from work to play, the paths of economic growth and inflation disappear into a fog as thick as a February morning. That’s why we’re still cautious about 2023.