US regional banks rise as investors try to overcome crisis of confidence – Money Times

to Actions Inside Banks Regional to us Led by Western Alliance Bancorp on Monday, investors sought to overcome a crisis of confidence triggered by the collapse of the trio. Banks Over a period of two months.

Western Alliance rose 10%, PacWest Bancorp, Fifth Third Bancorp, Comerica and KeyCorp rose between 2% and 6%. The KBW regional bank index rose 2.3% after losing 13.7% so far this month.

Difficulties in the field began in March Silicon Valley Bank Failed and was soon followed by Signature Bank.

Then, in May, the First Republic collapsed, creating a vicious cycle that pressured regulators to intervene.

However, despite the increase in deposits, investors remain wary of assurances from analysts and regulators about the stability of regional banks.

“We haven’t seen significant contagion effects yet economy Overall … and we remain confident that the risks are isolated and not systemic,” Larry Adam, chief investment officer at Raymond James, wrote in a note to clients.