Bill Gross says it's time to buy these regional bank stocks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The PIMCO co-founder highlighted four stocks that he is buying.

Billionaire investor Bill Gross said Thursday that he is buying beaten-down regional bank stocks. "Regional bank falling knife has hit bottom. I'm buying TFC, CFG, KEY, FHN," Gross said in a post on X, formerly known as Twitter. The tickers he mentioned refer to Truist Financial , Citizens Financial , KeyCorp and First Horizon . "Treasury yield picture still uncertain. Best strategy is to invest in the 2/10 curve continuing to disinvert; i.e.

buy 2s sell 10s duration neutral -- now negative 33. It should go positive over next 6 mths," the post continued. Gross, whose long investing career has included co-founding PIMCO and earning the moniker "The Bond King," has said recently that he was watching regional banks for a potential buying opportunity. The sector has struggled to recover from a March flare up that saw several mid-sized lenders fail, including Silicon Valley Bank.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines