March 31

CIO Tom Galvin Featured on Bloomberg’s “The Close”


City National Rochdale CIO Tom Galvin was a guest on Bloomberg TV's "The Close" on Friday, March 31. He discussed the strength of tech this past quarter, the next round of earnings and the equity markets.

When asked about the riskier part of the tech sector, Tom states that "we've for a long time been avoiding the speculative tech "those [companies] that have run up without a lot of fundamental support behind them are the most at risk of a pullback," said Tom.

Regarding the banks losing deposits to money market funds and investors in general looking for yields outside of equities, Tom discusses concerns in the equity markets and that "as earnings season unfolds, we'll be taking a hard look at the balance sheets of the banking industry to see who the deposit losers are and who the deposit winners are."

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