The crash in US regional bank stocks isn't over yet as the sector faces potential regulatory changes and risks stemming from the stress in the commercial-property market, according to Morgan Stanley's head of wealth management.
This, combined with profitability issues among regional banks, is driving Skelly and his team to be"still relatively cautious" on bank stocks, which they have been underweight on for some time. Regulatory clarity and potential banking-rule changes in the coming months are another factor to consider, according to Skelly.
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