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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The White House outlined three phases, which will be used by the states to reopen the economy. The Governors of each state will carefully construct this approach but only after 14 continuous days of decreasing illnesses. This is only one of many stipulations that must be met in order for states to start the process, as the White House is encouraging continued caution.