Soros’ Don Fitzpatrick sees more US bank failures

Don Fitzpatrick, CEO of the investment fund SorosAnd He stated that the US banking crisis is not over yet And more lenders are likely to fail.

I think there will be more bank failures, probably from smaller banks

Don Fitzpatrick stated

And CEO Soros, during a series of conferences held by Bloomberg, indicated that You expect that the next banking regulations to be put in place will be stringent We expect more research on liquidity management from lenders.

Bloomberg’s conferences kicked off on Wednesday, with the most influential finance leaders gathering in New York to talk about artificial intelligence, cryptocurrency, and global trends in wealth management.

Learn more: The banking crisis does not stop. PacWest Bancorp retracted after reporting a drop in deposits

Cheap mortgage bonds

Fitzpatrick also noted that broker-dealer-backed securities are an interesting investment opportunity, as the recent bankruptcies of several regional banks in the US have led regulators to auction large portfolios.

Earlier, Dan Evaskin, CEO of Pacific Investment Management, stated that mortgage agency-backed securities are the most attractive asset at the moment.

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With information from Bloomberg