SAN DIMAS, Calif. — WesCorp Executive Vice President/Chief Investment Officer Bob Burrell drew cheers from CUES conference-goers on Feb. 7, when he predicted a return to the days of steep yield curves, with spreads as high 200 basis points.
Burrell said he expects the Fed rate to drop to around 2.5% and stay there for most of the year, though he said he wouldn't be surprised to see it drop to 2%. That cheap source of funds, combined with less competition from struggling banks, could mean good news for financial executives.
Burrell and fellow WesCorp executives Dwight Johnston and Tony Kitt provided 2008 forecasts, as well as balance sheet and operational strategies, to about 40 members of the CUES Southern California/Arizona Council at WesCorp's headquarters here.
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