These 3%-5% Bank Yields Are a StealBrett Owens, Chief Investment Strategist
Updated: March 24, 2023
Is it time for us contrarians to “buy the dip” in bank stocks?
We’re drowning in big bank-scare headlines. Silicon Valley Bank (SIVB) knuckled under in days, Signature Bank (SBNY) wasn’t too far behind, and across the pond, Credit Suisse (CS) needed a buyout bailout from rival UBS (UBS).
The next bank run, however, won’t be with the big boys. Too big to fail, baby. Here, we’ll find not only government help but also secure yields of up to 5.1%—trading at a discount, no less.
Why the big guys? Well let me show you. Last week, my software firm received this email from one of our vendors:
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“Brett, Just wanted to give you our new banking details.