With the same certainty of death and taxes, the financial markets are perpetually challenged by a wall of worry. More often than not, the challenge is overcome when worries create opportunities that beget rich rewards for risk-takers. By all accounts, that premise has been on full display since the end of the Great Recession. The U.S. stock market has staged an astonishing rally over the past decade despite an array of worrisome episodes ranging from a European debt crisis, three government shutdowns, an ever-escalating trade war, geopolitical flare-ups, and a severe global slowdown, among other significant setbacks. The bond market also weathered these time-honored signs of distress. Yields have come down, reflecting a low-growth, low-inflation environment, but credit spreads have remained narrow amid low default rates. Corporations have found highly receptive buyers for a copious volume of new issues in recent years, too. October Economic and Financial Digest
Banks have always prioritized their customers’ security. With the rise of digital transactions and online shopping, ensuring this security has become more critical than ever.