Bill Gross Scoops up Regional Bank Stocks
- Former bond king calls small banks ‘enticing’ long-term buy
- It is ‘extremely difficult’ for inflation to return to 2%
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Battered regional banks got a vote of confidence from the one-time king of the bond world.
In his investment outlook published Friday, Bill Gross, the former chief investment officer of Pacific Investment Management Co., said he has purchased stocks including Western Alliance Bancorp, Synovus Financial Corp. and PacWest Bancorp as well as SPDR S&P Regional Banking ETF.