Buy Bank Stocks Now, After S&P Downgrade? Wait!
@JC888:
I am surprised by the lack of coverage on the latest downgrade undertaken by Standards & Poor (S&P). Coming barely 2 weeks after Moody’s downgrade of 10 US regional banks and warnings issued to 5 bigger US international banks including JP Morgan. To untrained eyes, is this a coordinated attack by renown rating agencies against US banking sector? While I am uncertain as well, it sure looks like that from where I am seated. What Is The Long Story Short? The downgrade was about 5 US regional banks that are mainly lenders with high commercial real estate (CRE) exposure. According to Aptus Capital Advisors - Portfolio manager, David Wagner, "Some of the structural aspects for banks, regarding their balance sheet, remain risks to banks, as the Fed continues to try to anchor inflation wi