Legendary bond investor Bill Gross urged caution about buying gold, which has been soaring recently, even as he warned on budget deficits and a slowing economy.

In a post on X on Friday , the cofounder of Pimco also acknowledged Wall Street’s anxiety over the past week about problems lurking in banks’ loan books .

Disclosures on Thursday from Zions Bancorporation and Western Alliance Bancorp about dodgy borrowers came after JPMorgan CEO Jamie Dimon pointed to the collapse of auto lender Tricolor as a “cockroach” that likely signals more are hiding elsewhere.

“Regional bank ‘cockroaches’ may continue to affect stocks AND bonds,” Gross predicted.

While analysts don’t think issues at the regional lenders signal systemic problems, memories of Silicon Valley Bank’s implosion just two

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