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Insight Weekly: SVB fallout limited; US rents up; renewable natural gas investments flow in

Today is Tuesday, March 21, 2023, and here’s your weekly selection of essential intelligence on financial markets and the global economy from S&P Global Market Intelligence. Subscribe to be notified of each new Insight Weekly.

In this edition of Insight Weekly, we examine the fallout from the collapse of Silicon Valley Bank. The second-largest bank failure in U.S. history stoked fears of a wider banking crisis. But according to the S&P Global Market Intelligence's Market Signal Probability of Default model, the recent bank failures have pushed the default risk for the U.S. financials sector only slightly higher, with broader consequences limited to just a few industries. For venture capital funds, SVB's fall is likely to cause disruptions in inflows and outflows of capital, according to 451 Research. In the renewable energy sector, industry observers remain confident that there are enough financiers to plug any holes caused by SVB's collapse.

U.S. rent prices climbed 8.8% year over year in February, the biggest rise in almost 42 years. The surge has further increased inflation and is expected to trigger another potential rate hike from the Federal Reserve despite market speculation of a pause in tightening following the collapse of two regional banks.

Gas utilities plan to continue investing in new renewable natural gas production, even as larger energy companies and private capital also chase opportunities in the sector. Gas utilities see the alternative fuel as a key pathway for decarbonizing their business.

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Written and compiled by Azeem Waqas.

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