Bank of America (BAC) Expects Q2 Trading Revenue to Jump 15%, Reuters Reports

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Reuters reported connected May 27 that Bank of America Corporation (NYSE:BAC) expects its trading gross to emergence 15% successful the 2nd 4th from the aforesaid play a twelvemonth earlier, pursuing marketplace volatility driven by higher US tariffs, according to CEO Brian Moynihan.

Speaking astatine a fiscal conference, Moynihan cautioned against making straightforward year-over-year comparisons. He made the pursuing remark:

“Got to beryllium cautious twelvemonth implicit year. You got to retrieve past twelvemonth was liberation quarter, truthful immoderate of these numbers volition look big.”

Moynihan said concern banking remains successful “pretty bully shape.” He besides noted that wealthiness absorption gross is expected to turn successful the debased teens connected a percent ground compared with the anterior year. Global dealmaking has precocious regained momentum aft a crisp slowdown successful the weeks pursuing the commencement of the Iran war. Companies and investors person mostly looked past marketplace volatility and continued to prosecute larger transactions.

According to Moynihan, the pipeline for archetypal nationalist offerings remains full, with enactment levels staying strong. He besides said user spending and recognition prime proceed to clasp up well, supported by a steadfast labour marketplace contempt ongoing inflationary pressures and elevated involvement rates.

Bank of America’s interior information showed that full recognition and debit paper spending per household accrued 4.8% twelvemonth implicit twelvemonth successful April, up from 4.3% maturation recorded successful March.

Bank of America Corporation (NYSE:BAC) is simply a slope holding institution and fiscal holding company. Its concern segments see Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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