On August 8, 2023, credit rating firm Moody’s Investors Service downgraded the credit ratings of multiple banks and placed many others “under review.” These downgrades followed a slew of bank closures earlier in 2023 and reflect a sense of caution surrounding the banking system.
“The collapse of Silicon Valley Bank and Signature Bank earlier this year sparked a crisis of confidence in the U.S. banking sector, leading to a run on deposits at a host of regional banks despite authorities launching emergency measures to shore up confidence.”
—Reuters, August 8, 2023
How can you protect your portfolio from ongoing issues in the banking system, and what assets could be free from their influence?
Click on the video link below for exclusive Executive Insights on this topic from U.S. Money Reserve’s Coy Wells.
Related headlines from around the web:
- Yahoo Finance: “Moody’s reminds [consumers] that regional banks aren’t out of the woods yet”
- Reuters: “Wall Street ends lower after bank rating cuts spark wider sell-off”
- The Wall Street Journal: “When Markets Get Scary, Mom and Pop Buy Gold”
Protect your portfolio with precious metals today.
Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.