As you are likely aware, there has been some turmoil in the markets, attributable to a handful of banks that appear to have a limited deposit diversification. In essence, these banks worked with customers from a much more concentrated profile than many of the larger banks that Hudson Valley Investment Advisors (HVIA) follows and owns. HVIA does not have any exposure to the banks that are impacted.
This doesn’t appear to be an industry wide problem, and does not reflect the credit issues that occurred in 2008. Additionally, the Federal Reserve has stepped in quite early and is acting to support the Treasuries based collateral that the banking industry utilizes.
If you should have any questions regarding how Hudson Valley Investment Advisors is handling the shifting investment environment, or have concerns about your portfolio, please don’t hesitate to give us a call.
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As we enter a new phase of the COVID-19 pandemic, we are giving another economic outlook conference call regarding the dramatic changes that have taken place over the past couple of months. Click on the image to the right to access the slide deck that will accompany the conference call. Click here to access the Zoom call scheduled for May 13th, 2020 at 2pm.