We’ve been working hard over the last year to create a website that is both functional and informative. One that tells our story and provides our visitors a true vision of what the Peapack-Gladstone Experience is all about.
We are very proud of our history and have put a strategy and culture in place that ensures we remain true to our founders’ core principles of serving our clients with the highest level of integrity and care. It is our hope that this new website illustrates our commitment. We will continue to enhance the site over time with the goal of always providing our clients with the best possible solutions.
We believe All Banking Should Be Private Banking and I invite you to join in that experience.
Douglas L. Kennedy
President and CEO of Peapack-Gladstone Bank
The U.S. dollar cascaded lower this week as traders unwound their dollar long bets. Many traders had built dollar positions expecting future Fed rate hikes that have become less likely due to recent financial market volatility. On Wednesday, the dollar had its worst one-day loss in seven years. Typically, when there are large moves in a benchmark currency, like the dollar, they are usually driven by a significant macro event. The dollar’s plunge follows extreme volatility in the Yen over the last couple of weeks. These currency gyrations are signs of an overall reassessment of central bank policies and generally suggests a continuation of easy monetary policies across the globe. The Fed seems somewhat caught between modestly accelerating wage pressure, hourly earnings have risen more than expected for two consecutive months, and a weak international demand environment. Although volatile, the dollar seems to have lost its momentum and perhaps has stabilized at current level. Some wage growth and a stable dollar are important elements that should lead to a better earnings outlook in the second half of 2016.
PEAPACK-GLADSTONE BANK IS A HIGH-PERFORMING BOUTIQUE BANK, LEADERS IN WEALTH, LENDING AND DEPOSIT SOLUTIONS, KNOWN NATIONALLY FOR UNPARALLELED CLIENT SERVICE, INTEGRITY AND TRUST.