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 second quarter of 2022 was an inflection point. Many cross-currents moved the
economy from strong, steady above-trend growth to one that was negatively
influenced by government policies. The quarter saw one of the worst markets for both
stocks and bonds in close to 50 years. Coming out of COVID-19, economic
imbalances became more pronounced.
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