This chapter delves into Bank of America's financial performance with a focus on charge-offs, net interest income, cost trends, and management guidance. It contrasts consumer strength and concerns over credit card growth, with comparisons to other banks and discussions on reserve releases and investment banking outlook.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Intelligence Senior Global Banks Analyst Alison Williams discusses Bank of America reporting elevated expenses and charge-offs for soured loans that were higher than analysts expected, failing to satisfy investors with a gain in its trading business. Cheryl Pate, Senior Portfolio Manager at Angel Oak Capital, shares her thoughts on bank earnings. Bloomberg Businessweek Global Economics Editor Cristina Lindblad provides the details of the Businessweek story A Resilient Global Economy Masks Growing Debt and Inequality. And we Drive to the Close with Jimmy Lee, CEO at Wealth Consulting Group.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
See omnystudio.com/listener for privacy information.