Interesting times! Since bank collapses don’t happen every day I thought this one was worth writing about. Last week the demise of Silicon Valley Bank began as liquidity issues turned into a full on run on the bank. This week, the aftermath is sending shock waves across the banking sector and broader financial markets creating a high degree of uncertainty.

Please note, we have NO exposure to Silicon Valley Bank in our portfolios. The purpose of the article below from our Portfolio Advisory Group is to provide background on what happened, how the regulators stepped in to stem the damage and what the “costs” of that may be. This article also high highlights how the entire episode may cause the Fed to rethink its rate hiking plans.

I believe you will find this Market brief informative, especially in light of the recent news.

If you have any questions or need further guidance, please do not hesitate to contact me.

I appreciate the opportunity to serve you and look forward to continuing to help you accomplish your long-term financial goals.