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BoFA’s Trading Income Set to Decline Sequentially

Robert Karr
BoFA’s Trading Income Set to Decline Sequentially

The first quarter brought high volatility due to the Fed indicating that rate hikes would speed up this year, resulting in global equities correcting. Volatility then declined marginally, and equities bounced back in mid-June due to expected growth across sectors. Bank of America’s (BAC) trading activity is expected to fall sequentially in the second quarter, due to weaker equity trading offset by slightly higher debt trading.