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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Shanghai Disneyland’s Reopening a Model to Look At
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The U.S. appears to be 6 to 8 weeks behind China in lifting restrictions based on when COVID-19 hit our shores. The reopening of Disney Shanghai, which is running at 30% capacity, will be looked to as a model of group gatherings and how other resorts, sports and live events may proceed from the lessons learned at this Disney theme park. We will continue to watch and gain insight as the park lifts restrictions and moves forward until all restrictions are lifted over time.