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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Cargo sitting at California ports adds to the spike in inflation as a combination of events has caused this congestion. This bottleneck has led to shortages in products and in some instances, only the higher-priced products being available for sale. The holiday shopping season will be affected as restrictions in inventories continue and demand rising above last year’s levels. We expect this congestion to slowly be alleviated as ports work through this bottleneck in the first quarter.