State Street Investor Confidence Index - April 2023

Investor confidence rose 2.2 points in April to 83.5 points. The State Street Global Markets Investor Confidence Index (ICI) saw mixed results across different regions.

• North American ICI rose 1.6 points to 75.5

• European ICI fell 6.4 points to 111.2

• Asian ICI dropped 2.6 points to 89.3

“Despite relative stability in the U.S. banking sector, institutional investors globally remained cautious in April as the Global ICI stayed well below neutral with a reading of 83.5,” commented Marvin Loh, senior global macro strategist at State Street Global Markets.

“While the North America ICI posted a marginal 1.6 point increase to 75.5, it maintained the weakest regional reading as investors continue to navigate through banking stress and Fed tightening. In contrast, despite a drop in April, the 112.2 ICI reading for Europe remained at near 2-year highs, with this region signalling the strongest level of risk-taking. The April numbers demonstrate a degree of comfort that U.S. bank depositor stress will remain contained and not contribute to broader systemic risk. Nonetheless, sentiment in Asia slipped again, falling 2.6 to 89.3 on fading optimism of widespread gains from the reopening of the Chinese economy.”