Money managers address SVB impact on ETFs

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

Goldman cuts GDP forecast as small banks come under pressure

Photo captionThe logo of Silicon Valley Bank is seen on a smartphone with a stock market index in the background on a personal computer in Rome, Italy, March 14, 2023. Andrea Roncini | Nurphoto | Getty Images Goldman Sachs cut its 2023 economic growth forecast on Wednesday, citing lower lending by small and medium-sized banks … Read more

Evercore Warns SVB Impact Will Force Markets to New Lows

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