Blankfein also said that, while economic growth in the US has slowed and is currently ''fluctuating around zero'' percent, he doesn't foresee a deep recession.
''It feels relatively shallow,'' Blankfein said. ''By the end of the year we think we will be on a growth curve again.''
Banking stocks may be poised for a recovery, Tobias Levkovich, Citigroup's chief US equity strategist, said in an interview today in Frankfurt. He has an ''overweight'' rating on the industry after the Standard & Poor's 500 Financials Index fell 215 last year and another 12 percent this year.
''We have probably passed the worst point,'' Levkovich said today. ''But I expect the volatility to continue.''
So the light is at the end of the tunnel, great time soon to be taking up a position then??
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
