Citi analyst Keith Horowitz said late Sunday the bank doesn't see cause for concern about financial contagion of U.S. banks from Credit Suisse , amid social media speculation about the health of the major Swiss lender. "We understand the nature of the concerns, but the current situation is night and day from 2007 as the balance sheets are fundamentally different in terms of capital and liquidity, and we struggle to see something systemic," Horowitz said. He noted that credit default swap spreads of U.S. banks have widened over the last few weeks, but that U.S. bank stocks "are very attractive here." Shares of JPMorgan Chase rose 0.7% in premarket trades. Goldman Sachs Group Inc. traded flat. The Financial Select Sector SPDR ETF is down 22.3% in 2022, compared to a drop of 24.8% by the S&P 500 .
(END) Dow Jones Newswires
October 03, 2022 08:07 ET (12:07 GMT)
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