Bank of America Headlines

  • JPMorgan Capitulates, May Help Clients Trade Bitcoin Futures (For A Fee)

    On September 12, Jamie Dimon caused a stir (and selloff) within the cryptocurrency community when he lashed out at bitcoin, calling it a "fraud" which is "worse than tulip bulbs, predicting "it won't end well", will "blow up" and "someone is going to get killed." Oh, and just to make it clear, "any JPM trader caught trading bitcoin" would be "fired for being stupid." After briefly plunging, since then the price of Bitcoin has doubled, and earlier today, Bloomberg quoted money manager David Kotok...

  • How China’s Acquisitive HNA Group Fell From Favor

    CEO Adam Tan drove the global ascent and ambition of the conglomerate, which has sought comparisons to Warren Buffett’s Berkshire Hathaway. It is now drawing the scrutiny of regulators and Wall Street, and its debt-fueled expansion has hit a wall.

  • A middle-class tax cut? Hardly.

    No one's buying the GOP's arguments.
  • How Tax Reform Can Still Blow Up: A Side-By-Side Comparison Of The House And Senate Tax Plans

    To much fanfare, mostly out of president Trump, on Thursday the House passed their version of the tax bill 227-205 along party lines, with 13 Republicans opposing. The passage of the House bill was met with muted market reaction. The Senate version of the tax reform is currently going through the Senate Finance Committee for additional amendments and should be ready for a full floor debate in a few weeks. While some, like Goldman, give corporate tax cuts (if not broad tax reform), an 80% chance...

  • "Nightmare On Bond Street": HY Turmoil Leads To Third Largest Junk Outflow In History

    Following this month's drop in junk bond prices and the 40 bps spread widening in high yield last week - the largest since November 2016 - Bank of America has come up with an apt title for its weekly fund flow report: "Nightmare on Bond Street"... ... and with good reason: last week, US junk bond funds and ETFs reported a $4.43bn outflow this past week - the third largest outflow on record and the largest since August 2014. This follows a smaller $0.94Bn outflow the prior week. Non-US HY...

  • Warren Buffett’s company sells more IBM shares

    OMAHA, Neb. - Warren Buffett's company sold almost a third of its remaining IBM shares in the third quarter and changed some of its other investments. Berkshire Hathaway filed a quarterly snapshot of its portfolio with the Securities and Exchange Commission on Tuesday. Investors watch Berkshire's filings closely because of Buffett's successful record. The company sold nearly 32 percent of its remaining IBM shares to leave it with 37 million shares at the end of...

  • Buffett Adds Another 3.9 Million Apple Shares, Cuts IBM, Wells Fargo Holdings: Full Q3 Holdings

    Traditionally one of the most boring, and telegraphed 13-Fs, today's update of Berkshire holdings did not contain any major surprises, well maybe with one exception: while it was already well-known that at the end of June Buffett converted roughly 700 million Bank of America preferred shares into common, which now appear on Berkshire's 13F, there were two notable changes. First, Buffett continued to dump his IBM holdings, and as of the end of Q3, he held only 37 million IBM shares, down 31.5%...

  • Bank Of America: "This Is A Clear Sign Of Irrational Exuberance"

    The latest monthly Fund Manager Survey by Bank of America confirmed what recent market actions have already demonstrated, namely that, as BofA Chief Investment Strategist Michael Hartnett explained, there is a "big market conviction in Goldilocks leading to capitulation into risk assets" while at the same time sending Fund managers' cash levels to a 4-year low, and pushing "risk-taking" to a new all-time high, surpassing both the dot com and the 2007 bubbles. BofA's takeaways from the survey,...

  • Looking for a job? Hiring — and perks — are at local small businesses

    Four out of every 10 Miami metro area entrepreneurs plan to hire more employees in the next 12 months — 23 percentage points higher than the national average, according to Bank of America’s fall 2017 Small Business Owner Report released Tuesday.

  • Bank Of America: This Is What $700 Quintillion Could Buy You Today

    In a whimsical, 100+ page report, meant to literally drum up interest in investing in an entirely new frontier, Bank of America tries to address the untapped "space" opportunity from the perspective investors. The Primer "sets out the challenges and opportunities posed by Space" and, predictably, concludes that lots of money is to be made, just call now to book your piece of timeshared monorail equity as "we are entering an exciting era in Space where we expect more advances in the next few...

  • Report: Americans Without College Degrees Worse Off than 40 Years Ago

    Americans without a college degree are worse off than they were 40 years ago, according to a report published by Bank of America Merrill Lynch.

  • Accused bank robber agrees to stay locked up

    James Smith is accused of attempting to rob a Bank of America in Hamilton TRENTON -- The Hamilton man accused of attempting to rob a Bank of America branch in Trenton last month agreed to remain behind bars on Monday.  James Smith James Smith, 22, is accused of passing a note to a bank teller at about 1:20 p.m. on Oct. 31. Officials said Smith became frustrated when the transaction was taking too long and fled the bank before receiving any cash.  He was last seen...
  • Junk Bond ETFs Have Rough Two Weeks: Deals Pulled, Outflows Rise

    By Mish Shedlock Volatility has returned, at least in the junk bond market. JNK, the Barclays High Yield Bond ETF, and HYG, the iShares High Yield Bond ETF, both had the steepest decline in three months. Is this another buy the dip opportunity, or is risk avoidance about to take hold? Cracks Widen Reuters reports U.S.Junk Bond Sector Ends Rough Week On Calmer Note. Cracks in the red-hot U.S. high-yield bond market are starting to widen, with two junk-rated companies pulling their...

  • This banker uses her business skills to help students deal with difficult issues

    Jaye Huber, a banker with Bank of America, has played a major role with the Women’s Advisory Board for the Health Information Project, which teaches high school students about health, drugs and sexual issues.

  • Are "Happy Days" In Credit Over? According To BofA, Just One Thing Matters

    Just one month ago, we showed a chart according to which the corporate bond spreads as tracked by the BofA/ML Corporate Master Index had tumbled to a level not seen since July 2007... ... while European high yield bonds have sunk below 2%, a head-scratching plunge in European "high" yields. As we have observed previously, the catalyst for the dramatic collapse in yields has been an obvious one: central banks, which have not only crushed asset volatility, but through the ECB's explicit...

  • Harvey Milk memorialized in light and art in the Castro

    Before the rain came the rainbow. On the 40th anniversary of the election of San Francisco Supervisor Harvey Milk, shafts of multicolored LED lights rose into the clouds as "Harvey's Halo" came alive in the Castro on Wednesday night. The light sculptures shine from the top of the old Bank of America building at Harvey Milk Plaza at the corner of Market and Castro and were created by Illuminate, the nonprofit that has bedazzled the Bay Bridge and the Conservatory of Flowers, and...

  • German Investors Now World's Largest Gold Buyers

    German Investors Now World's Largest Gold Buyers - German gold demand surges from 17 ton-a-year to a 100 ton-plus per year- €6.8 Bln spent on German gold investment products in 2016, more per person than India and China- Germans turned to gold during financial crises and ongoing euro debasement- Evidence of latent retail demand on increased economic concerns- "Gold fulfils an important long-term, wealth preservation role in German investors’ portfolios" Editor: Mark O'Byrne India and China...

  • "It's A Vicious Cycle": Goldman Abandons Equity Options Market-Making As Vol Collapses

    October is historically the most volatile month of the year, but in 2017 - the average volatility of US equity markets dropped to an all-time record low... ... And you know something's wrong when, just like in early 2007 when the crash in vol killed the swaptions industry - just before all hell broke loose - Goldman Sachs is pulling back from U.S. options market-making on exchanges. The Wall Street Journal reports an extraordinary calm in markets has choked the trades that typically funnel...

  • Krieger Rants "Washington D.C. Is Swarming With Unaccountable Parasites"

    Authored by Mike Krieger via Liberty Blitzkrieg blog, In theory, Americans should be proud of their national capital and all the important work that gets done there. In theory. In reality, our nation’s capital is an utter cesspool of self-serving, unethical and unaccountable parasites. We all know it and, even worse, it’s probably a hundred times more grotesque than we can imagine. A distressingly high number of people attracted to this swamp don’t go there to do good public work or help the...

  • Is Dolphins coach Adam Gase planning a mansion?

    According to public records filed last week in Broward County, Dolphins coach Adam Gase and his wife Jennifer borrowed $1.92 million from Bank of America. They have until Nov. 1, 2047, to pay back. The coach used the Fort Lauderdale home he bought last June for $750,000 cash as collateral.

  • Bitcoin, Blockchain, And Bank Of America

    Authored by Chris Whalen via The Institutional Risk Analyst, During our travels over the past two weeks, we tried to keep up with the financial press, particularly the growing sense of unease felt by many observers with the relentless rise of valuations for equities and other asset classes engineered by the Fed and major central banks.  Suffice to say the number of queries we receive about bank stocks being overvalued has soared. Last week saw some real gems from the world of crypto currencies. ...

  • The Benefits When a Nontechie Runs Tech

    Bank of America’s Cathy Bessant says it helped her integrate business and technology.

  • The Fed Balance Sheet Unwind Myth

    Authored by Lance Roberts via, Since the beginning of the year, the Federal Reserve has been heavily discussing, warning rather, they were going to begin to “unwind” their gargantuan balance sheet. As Michael Lebowitz recently penned in his subscription-only article “Draining The Punchbowl:” “Since QE was first introduced, the S&P 500 has gained 1,546 points. All but 355 points were achieved during periods of QE. Of those remaining 355 points, over 80% occurred after...

  • Obama Justice Department’s $1 Billion ‘Slush Fund’ Boosted Liberal Groups

    President Barack Obama’s Justice Department created a “slush fund” of nearly $1 billion using legal settlements with banks and steered those funds to political allies... Read More The post Obama Justice Department’s $1 Billion ‘Slush Fund’ Boosted Liberal Groups appeared first on The Daily Signal.

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