Q2 Beats for BofA and Morgan Stanley, Dow Aims for 7-Day Win Streak, June Retail Sales Miss 7/18/23
Squawk on the Street
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The Suboptimal Bank of America
Wells is one of four companies that have made $15 billion a year and four quarters. PNC raised the net interest market by a crazy amount, 10 to 14%. The efficiency ratio here was not great. And they also did it with an effective tax rate of 15.5. People were looking for 18.2. So I'm calling this one suboptimal bank of America.
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