Insights
At Peapack Private, we consider education to be an important part of what we do, both for our clients and for the public overall. That's why we regularly speak to local and national media, and why we contribute articles to leading publications, and our time to professional organizations.
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One of the main questions vexing markets, is the degree to which the coronavirus will weigh on growth in the world’s second largest economy. With a fraction of the Chinese economy functioning at this point, certain businesses are finding it increasingly difficult to meet their financial obligations. Back in 2016, President Xi Jinping embarked on a deleveraging campaign that led to a crackdown on shadow banking. Since then, the credit cycle has accelerated and defaults have increased dramatically. Moreover, both investment grade and high yield borrowers have seen credit spreads over government debt escalate to the highest figures since November of 2019. Even though the Chinese government has responded with easier liquidity policies, the funding is not finding its way to smaller private companies, which accounted for more than 80% of the defaults in 2019.
A Peapack Private Wealth Management publication: INVESTMENT Outlook fourth quarter 2019
Investors caroled their way through the fourth quarter, as global stock markets continued to bestow lavish gifts
onto shareholders. Animal spirits joined with the Christmas spirit, as trade tensions lessened, global central banks
affirmed their accommodative ways, and economies around the world showed nascent signs of bottoming and
possibly turning up.
onto shareholders. Animal spirits joined with the Christmas spirit, as trade tensions lessened, global central banks
affirmed their accommodative ways, and economies around the world showed nascent signs of bottoming and
possibly turning up.
Stocks domestic and international, small cap and large, developed and emerging, all gave market participants
returns hovering around 10% for the three-month period. Bond and real estate equity returns were essentially flat
for the quarter, while commodities finally showed some life, up 5%.
returns hovering around 10% for the three-month period. Bond and real estate equity returns were essentially flat
for the quarter, while commodities finally showed some life, up 5%.
Can a Trust own a 529 plan for a grandchild?
529 plans are college savings plans used to save for qualified educational costs.It’s a wonderful gift for you to help save towards your grandchild’s education.
A trust can be the owner of a 529 plan, said Dawn Brown, a certified financial planner with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank, in New Providence.
what happens To inherited ira's under the secure act?
The SECURE Act has sparked many questions about what happens with IRAs in the future. Let’s go over what’s changed.
Prior to Jan. 1, 2020. when a beneficiary of an inherited IRA passed away, the successor beneficiary would “step into the shoes” of the current beneficiary and continue the Required Minimum Distributions (RMD) based on the life expectancy of the current beneficiary, said Patricia Daquila, a certified financial planner and certified public accountant with Lassus Wherley, a subsidiary of Peapack-Gladstone Bank, in New Providence.
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