Bill Gross, the former chief investment officer of Pacific Investment Management Co., recommended buying short-term Treasury bills, expecting the debt-ceiling issue eventually gets resolved.

Speaking on Bloomberg Television, Gross, who retired from asset management in 2019, also said 30% of his personal investment is in energy pipeline partnerships because of their tax advantage and high yields.

Last month, Gross said he had purchased bank stocks including Western Alliance Bancorp, Synovus Financial Corp. and PacWest Bancorp as well as SPDR S&P Regional Banking ETF, citing they are “an enticing long-term investment.”

Since then, concerns about small banks renewed with the collapse of First Republic Bank worsening fears about the solvency of regional lenders.

On Monday, he said rather than buying or selling banks, investors are better off selling volatility of regional lenders.