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
Rep. Patrick McHenry (R-NC) and House Financial Services Committee Chairwoman Maxine Waters (D-CA) listen to Facebook Calibra CEO David Marcus on “examining Facebook’s proposed cryptocurrency and its implications for consumers, investors and investors.” Impact “Testimony on the U.S. Financial System,” Capitol Hill, Washington, U.S., July 17, 2019. Joshua Roberts | Reuters WASHINGTON — A bipartisan … Read more
As regional banks continue to recover from the Silicon Valley bank collapse, the ETF industry is responding to the turbulence with a new product. Source link
Signs are seen outside a Chase Bank branch in San Francisco, Calif., Monday, July 12, 2021. David Paul Morris | Bloomberg | Getty Images JPMorgan is acquiring a company for start-up investors called Amen, CNBC first reported it. The largest U.S. bank by assets is buying the five-year-old Utah company as part of a broader … Read more
Investors flocked to gold and U.S. Treasuries as bank stocks were hammered by the collapse of a Silicon Valley bank and the implosion of Credit Suisse. Sven Hope | Image Alliance | Getty Images With global banks struggling and another Fed rate decision, gold has more room to rise and could break record highs — … Read more
Some investors worry that the Fed will struggle to successfully use its tools to fight inflation and stabilize the banking system. The Federal Reserve began its two-day meeting on Tuesday morning, and the Fed is widely expected to raise interest rates again. Futures markets are pricing in a more than 80% chance the central bank … Read more
Federal Reserve Chairman Jerome Powell speaks to reporters after the central bank raised its target interest rate by 25 percentage points during a news conference at the Federal Reserve Building in Washington, February 1, 2023. Jonathan Ernst | Reuters The Federal Reserve is expected to raise interest rates by 25 basis points on Wednesday, but … Read more
Heidi Heitkamp, a former Democratic senator from North Dakota, is currently dean of the University of Chicago’s School of Political Science. She is also the founder of the One Country Project, an organization dedicated to advancing rural America, and a contributor to CNBC. in a few hours Silicon Valley Bank collapses, the political spin machines … Read more
Signature Bank was closed by regulators in March to prevent a larger banking crisis. Angus Mordant | Bloomberg | Getty Images Subsidiaries New York Community Bank Has reached an agreement with U.S. regulators to buy deposits and loans from the New York-based bank signature bankclosed a week ago. The Federal Deposit Insurance Corporation says Under … 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