Sector-specific ETFs appear to be gaining popularity as a way to cushion the impact of bank turmoil. According to VettaFi’s Todd Rosenbluth, this trend applies to ETFs that only hold a handful of large companies in a particular industry. “[They’re] will be complementary to a broader S&P 500 strategy,” the firm’s head of research told … Read more
An aerial view of sea containers stacked at Yangshan Deepwater Port, the world’s largest automated container terminal, in Shanghai, China, May 21, 2021. Video | Visual China Group | Getty Images Recent turmoil surrounding U.S. and European banks has highlighted China as a “relatively safe haven” this year, Citi economists said in a note on … Read more
There has been speculation that SVB’s collapse could expose problems lurking in industry-specific ETFs. John Davi, chief information officer at Astoria Portfolio Advisors, put financials at the top of his watch list. “You need to be mindful of your risk,” says Davi, who runs the firm AXS Astoria Inflation Sensitive ETFtold CNBC’s “Advantages of ETFsThis … Read more
The financial institution Fitch Ratings logo is seen on a building in the business and shopping district of Canary Wharf, London, Britain, Thursday, March 1, 2012. Bloomberg | Bloomberg | Getty Images U.S. banking failure highlights Asia-Pacific banks’ resilience to risk Fitch Ratings says Increased exposure to Silicon Valley Bank and Signature Bank was minimal … Read more
Traders gather at First Republic Bank posts as the bank’s shares stop trading on the floor of the New York Stock Exchange (NYSE) in New York City, March 15, 2023. Brendan McDermid | Reuters shares first republic That and several other regional lenders pared earlier losses on Thursday after the Wall Street Journal reported that … Read more
Avisek Das | Light Rocket | Getty Images WASHINGTON — Top Democratic lawmakers are pressuring the Justice Department and the Securities and Exchange Commission to open investigations into whether officials participated in failed investigations. Silicon Valley Bankthe largest bank failure since the 2008 financial crisis, in violation of civil or criminal law. The letter, sent … Read more
The collapse of a Silicon Valley bank has exacerbated the economic slowdown, although the government has taken action to mitigate the impact, according to Danny Moses, a “big short” investor. “You can’t assume regulators know what they’re actually dealing with now, considering they’re completely caught off guard … what just happened to Silicon Valley Bank,” … Read more
Alan Baxter | Photo Gallery | Getty Images Asia Pacific’s leading index erased its year-to-date gains to be flat in 2023 as banks led losses on Tuesday. The MSCI Asia Pacific index hit a low of 155.44 in afternoon trade, down more than 9 percent from a Feb. 2 high of 171.26, erasing its year-to-date … Read more
Analyst Christopher Marinac said the sharp decline in regional bank stocks was a key entry point for investors. Marinac, who is director of research at Janney Montgomery Scott, believes the group’s decline over the past week offers investors an attractive entry point as the underlying business fundamentals remain intact. “We definitely slipped on the banana … Read more
Evercore ISI compares the bank stress to another pivotal moment on Wall Street: the savings and loan crisis and the year of the epic crash. “Think you’re going to see this financial stress in the system in 24 hours [Fed] Chairman Powell suggests he may go to 50 [basis points] 22, just to tell you … Read more