“It’s all about those banks!”

From the desks of Stanley Katz & Lauren Madera

STAY SAFE & HEALTHY!

If Meghan Trainor were a financier, she may consider reprising her 2014 hit song as “all about those banks!” Yet all three of the major US stock market indices shrugged off the woes of Silicon Valley Bank, First Republic, Signature and Credit Suisse to post gains this week (i.e., DJIA: +1.18%, S&P 500: +1.39%, Nasdaq: +1.66%). Last Wednesday, the Federal Reserve announced a 0.25% increase in the Fed Funds rate continuing its quest to slow the economy in the face of persistent inflation and shrinking corporate earnings. For the second week in a row, big tech remains the haven for the flow of funds. Most stock market analysts focused on the banking system’s liquidity crisis worldwide. You might find the Capital Group’s, Northern Trust’s, and Parnassus’ writings of particular interest.

Below are links to a number of third-party research reports that we have read and analyzed over the past week. We hope you will find the information interesting, useful, and worthwhile.

Capital Group:

• Bank failures push Fed to proceed with caution

Northern Trust:

• The Fed’s Inflation Fight Is Still On

Parnassus:

• Active Management in Action: Our Response to Regional Banks, the Fed and the Markets

Franklin Templeton:

• How is the SVB and Credit Suisse crisis affecting the US and European banking industry?

Janus Henderson:

• JH Explorer: Exceeding Expectations in the Middle East

Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500

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