Bank Failures Shine Light on Interest Rate Risks

Bank Failures Shine Light on Interest Rate Risks Financial markets reacted turbulently to the collapse of Silicon Valley Bank (SVB) on March 10, 2023, followed two days later by the failure of Signature Bank of New York. With $209 billion in assets and $175 billion in deposits, SVB was the nation’s 16th largest bank and […]
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Who’s Swimming Naked?

Who’s Swimming Naked? Most of the talk this week was of the SVB failure, bank runs, and most important… who’s next? We think that’s the wrong question. Last week we called the SVB failure an old-fashioned bank run, which it was. Much like the movie ”It’s a Wonderful Life”, depositors were lining up at SVB’s […]
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Bloomberg’s “The Tape” Podcast | March 13, 2023

Where Will Markets Go Post-SVB? Phil Palumbo, CEO and founder of Palumbo Wealth Management, joins the show to discuss outlook for the economy and equities. Hosted by Paul Sweeney and Matt Miller. Please Click Here to listen.   Palumbo Wealth Management (PWM) is a registered investment advisor. Advisory services are only offered to clients or […]
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False Ceiling

False Ceiling There has already been plenty of banter in the news about the debt ceiling and with the Treasury Department’s extraordinary measures running out sometime this summer; this is an issue that isn’t going away any time soon. Most of the concern is that Congress will be unable to reach a deal to increase […]
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The Apollo 13 Problem

The Apollo 13 Problem In Jim Lovell’s book, Apollo 13, he describes one of the final hurdles the crew faced as they attempted to return their crippled spacecraft to earth. The crew had to approach Earth’s atmosphere at an angle no shallower than 5.3 degrees, and no steeper than 7.7 degrees. If re-entry was shallower […]
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Why Your Kids Can’t Afford a House

Why Your Kids Can’t Afford a House Home affordability is a function of two primary things: 1) the ability to save enough for a down payment; and 2) having the income required to service the mortgage each month. With housing costs making up the largest part of family expenses, it would naturally be expected that […]
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CNBC Worldwide Exchange Interview | February 1, 2023

Two market watchers discuss how the first Fed policy decision of 2023 will impact the markets | CNBC Worldwide Exchange Interview Palumbo Wealth Management CEO Phil Palumbo and S&P Global Ratings Chief U.S. Economist Beth Ann Bovino discuss their expectations for the Federal Reserve’s latest policy decision.   Palumbo Wealth Management (PWM) is a registered […]
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