Your Survival Guy

Preparing your investments and family for when disaster strikes.

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Interest Rates Weighing on Banks’ Balance Sheets

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When it comes to your investment portfolio, I don’t want it stuck in a bank. They lend your cash for a song and pay you peanuts. Instead, consolidate your lazy cash at Fidelity. I like the Fidelity Treasury Money Market yielding just shy of 4.5%. I also like individual bonds paying fixed-income investors yields we haven’t seen in a generation. If you need help, I’m here.

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Justin Baer writes in The Wall Street Journal:

In the latest sign that higher interest rates are weighing on banks’ balance sheets—as customers find better yields elsewhere— deposits were down 11% at Schwab and 5% at State Street from the previous quarter and down 30% and 11%, respectively, from a year earlier. Brokerage giant Schwab still reported a profit increase, and its shares gained 3.9%. State Street missed expectations and its shares fell 9.2%, the S&P 500’s biggest drop.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.