Market Data as of Week Ending: 5/19/2023 unless noted otherwise U.S. stock prices were able to move higher last week as investors showed optimism that a resolution on the debt ceiling will be met ahead of the House vote. The S&P 500 ended the week 1.71% higher and...
Custody
Bond Yields Rise as Inflation Remains Elevated
Market Data as of Week Ending: 5/12/2023 unless noted otherwise U.S. stock prices were mixed as inflation remains elevated and debt ceiling negotiations intensified. Quarterly earnings have been better than expected (78% have reported a positive EPS surprise) as we...
Volatility Increased and the Fed Increases Rates to 5.25%
Market Data as of Week Ending: 5/5/2023 unless noted otherwise Volatility increased and U.S. stock prices delivered mixed results following another bank failure and the Fed’s decision to raise policy rates for the tenth consecutive meeting. Quarterly earnings have...
Mid Atlantic Trust Company Announces it is Rebranding to American Trust Custody
The name change of Mid Atlantic Trust Company to American Trust Custody is part of the previously announced launch of AmericanTCS, which brings together all of the trust, custody and retirement operations of EdgeCo Holdings under a single umbrella.
Mid Atlantic to Serve as Trustee for Paychex’s PEP
Paychex Introduces a Pooled Employer Plan, A New Cost-Effective Retirement Plan for U.S. Businesses and Their Employees The Pooled Employer Plan (PEP), an outcome of the SECURE Act, will expand retirement plan access by offering a cost-effective retirement savings...