Investor Account Access
Investor access to Shareowner accounts and Closed End Funds accounts.
In this video, Vincent Mortier, Group Chief Investment Officer; Ken Taubes, Chief Investment Officer, US; and Paresh Upadhyaya, Director of Fixed Income and Currency Strategies, US, and Portfolio Manager, discuss the US Federal Reserve’s March rate decision and broader issues in the banking system and economy.
In this video, Lisa Jones, CEO of Amundi US, discusses with Ken Taubes, CIO of Amundi US, the economic implications of the Silicon Valley Bank collapse, the response of the US Federal Reserve, and the possibility of a hard economic landing ahead.
Keep checking back for our latest news and updates on Silicon Valley Bank
Our assessment is that most banks are much better prepared to withstand financial volatility today than they were in 2008-9. As a result of the systematic application of much greater regulatory oversight, US banks have much higher levels of equity capital, better funding and liquidity, less leverage and much lower asset risk. With the potential for stronger supervision and regulation across the sector, we suggest investors carefully select securities from larger, well-capitalized banks with diversified business models and conservative lending strategies.
US Federal Reserve Chair Jerome Powell addressed concerns about the banking system, stating that conditions have broadly improved since early March, and re-emphasizing that Fed focus will now be on credit tightening. He said the Fed needs a few months of data to determine if monetary policy is sufficiently restrictive and continued to reiterate the importance of lifting the debt ceiling. While the financial markets may become excited about the prospect of the Fed moving to or near a pause, we would advise caution regarding any near-term course reversal by the Fed since the incoming inflation and economic data are not likely to support rate cuts.
Despite the failure of a handful of banks in the US and one in Europe, our view is that 2023 will not present a financial crisis in the magnitude of the Global Financial Crisis (GFC) of 2008. Furthermore, we believe now is an opportunity to take advantage of the volatility in the banking space by increasing allocations to the banks that we believe to be structural winners—those that have invested in technology or have enviable deposit dynamics.
Unless otherwise stated, all information contained in this document is from Amundi Asset Management US (Amundi US). Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi US and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results. Amundi Asset Management US is the US business of the Amundi Asset Management group of companies.
Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our literature section.
Securities offered through Amundi Distributor US, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer mutual funds, Member SIPC.
Not FDIC insured | May lose value | No bank guarantee Amundi Asset Management US, Inc. Form CRS Amundi Distributor US, Inc. Form CRS