Following a turbulent week in equity markets punctuated by a late week sell-off on a shaky July jobs report that stoked recession concerns, global equity markets continued to tumble in this week’s early trading as disappointing economic data has been exacerbated by an unwinding of a crowded carry trade and pressure on large tech stocks.

In the realm of private banking, where tailored financial solutions meet personalized service, understanding borrowing costs is crucial for making informed decisions.

Tax-favored strategies such as Roth IRA and Roth 401Ks, 529 plans, and HSAs (Health Savings Accounts) are essential tools for US taxpayers seeking to optimize their financial planning while minimizing tax liabilities.

Interest rate cuts were top of mind for market watchers entering 2024. After an aggressive rate hike cycle that saw eleven hikes over a 16-month period from March 2022 to July 2023, the Fed Funds futures began the year pointing to the possibility of as many as seven rate cuts in 2024.

Last Wednesday the S&P 500 saw the biggest one-day pullback since December of 2022, snapping a 356-day streak without a 2% or more decline.