富国银行将美国银行的目标价从56美元上调至60美元，将花旗集团的目标价从115美元上调至125美元， 将摩根大通的目标价从325美元上调至345美元，均维持"增持"评级。(格隆汇) ...

•美国银行：经济数据表明当前的金融环境对黄金有利 •银河期货：贵金属在流动性宽松的预期下迎来了新的突破 强劲走势有望延续 •光大期货：谨防短线利多落地后的市场大幅波动 •正信期货：金融和避险属性为贵金属提供底部支撑 预计未来延续震荡上行 •银河期货表示，美联储9月FOMC会议召开在即，当前9月降息25bps已接近完全定价，市场博弈聚焦于 交易未来更快和更大的降息幅度的可能性。从美国近期的宏观"硬"数据来看，8月CPI尽管再度反弹，但 较为温和且整体仍符合市场的预期；同时，8月非农数据爆冷且对此前数据出现年度级别的大幅下修， 凸显出美国劳动力市场的脆弱性，市场对于美联储年内三次降息的预期持续走高。在这种背景下，美元 和美债收益率偏弱运行，贵金属也在流动性宽松的预期下迎来了新的突破，强劲走势有望延续。提示关 注周四凌晨的议息会议结果，市场波动可能阶段性放大。 •光大期货表示，美国8月零售销售环比增0.6%，连续三个月超预期增长，实际零售销售连续11个月增 长，经济韧性凸显。另外，美众院共和党人提出短期支出议案避免政府关门，缓解市场避险情绪。美联 储议息将至，黄金市场表现依然强势，表明市场对年内降息次数和幅度有所期 ...

Core Insights - Interest in the Chinese market among Asian fund managers is increasing, with a notable improvement in sentiment observed in the latest Bank of America survey [2][3][6] Group 1: Market Sentiment - Only 9% of surveyed fund managers expect the Chinese economy to weaken in the next 12 months, a significant drop from 59% in April, marking the best outlook in six months [2][3] - The proportion of fund managers fully exposed to the Chinese market rose from 3% in August to 13% in September, while the wait-and-see stance decreased from 23% to 13% [5][6] - Despite the improved sentiment, 70% of respondents still view the Chinese stock market as undergoing a "structural downgrade" [10] Group 2: Investment Themes - The most favored investment theme is "anti-involution," chosen by 52% of respondents, significantly outpacing artificial intelligence/semiconductors and cyclical stocks, which both received 22% [12][14] - Traditional sectors such as real estate, leisure, and stock buybacks/dividends received no interest, indicating a cautious approach towards these areas [14] Group 3: Policy Expectations - A strong expectation for more accommodative monetary policy in China is evident, with 83% of fund managers anticipating such measures in the next 12 months, although this is a decrease from April's historical high [8] Group 4: Household Savings and Investment - The survey indicates a rise in household savings inclination, with 61% of respondents prioritizing savings accounts, up from 53% in August [15] - The percentage of households considering investments in stocks, bonds, or real estate has slightly increased from 23% to 26%, suggesting a gradual shift in risk appetite [15]

Reuters Stocks are flashing technical signs that look like risks to the market's rally, BofA said. A top technical strategist at the bank highlighted three things for investors to keep an eye on. The market often enters its weakest stretch during the month of September. The stock market is flashing a handful of signs that the latest rally may be about to reverse course, one of Bank of America's top technical strategists said. Paul Ciana, the global chief technical strategist at BofA, said in a cli ...

Gold prices have indeed soared to all-time highs in 2025, prompting headlines about a historic rally. But according to Bank of America (BofA) Global Research, the story is more nuanced: The gold sector, while booming, hasn’t returned to all of the metrics that defined previous cyclical peaks, especially regarding its value relative to the broader equity market and its own historical valuations.This year, gold surged past major thresholds, as the traditional hedge against inflation and macroeconomic uncertai ...

Sidelined*Walter Bloomberg (@DeItaone):MOST INVESTORS HAVE ZERO ALLOCATION TO CRYPTO: BANK OF AMERICABank of America’s September survey shows 67% of fund managers hold no crypto. Only small fractions allocate 2% (3%), 4% (3%), or 8%+ (1%). The average allocation is just 0.4%. Overall, 84% haven’t started structural ...

Group 1: Market Sentiment and Fund Manager Behavior - Wall Street fund managers are increasing their equity allocations, reaching a seven-month high, while cash balances remain steady at 3.9% [1] - 28% of fund managers are overweight on global equities, indicating bullish sentiment but not yet at euphoric levels [2] - Nearly half of fund managers expect the Federal Reserve to cut rates at least four times in the next 12 months, aligning with market expectations of five to six cuts [4] Group 2: Market Performance and Economic Indicators - The S&P 500 closed at a record high, and the Nasdaq has achieved six consecutive all-time highs, driven by resilient earnings and the AI investment cycle [3] - 77% of fund managers anticipate a "stagflationary" environment, characterized by sluggish growth, persistent inflation, and higher unemployment [5] - Consumer sentiment has declined, with the University of Michigan's September survey indicating the lowest level since May, alongside rising long-term inflation expectations [8] Group 3: Historical Context and Current Trends - The current market situation is reminiscent of past periods where unemployment rose alongside stock prices, as seen in the 1950s, 1960s, and early 1990s [6]

Core Viewpoint - Bank of America’s mortgage-backed securities research team is analyzing the potential for U.S. mortgage rates to decrease, influenced by Federal Reserve actions and macroeconomic conditions [1][2]. Mortgage Rate Projections - The MBS team believes a path to a 5% mortgage rate exists if the Federal Reserve implements quantitative easing in mortgage-backed securities and aggressive yield-curve control, reducing 10-year Treasury yields to 3.00%-3.25% [2]. - The baseline expectation is for mortgage rates to end 2025 and 2026 at 6.25%, a slight decline from the current average of approximately 6.35%, which has improved from 6.9% recently [3]. Market Reactions and Affordability - Despite Wall Street's optimism regarding potential rate cuts, even a reduction to 5% may not significantly alleviate the affordability challenges faced by American homebuyers [4]. - Housing stocks have seen a rise in anticipation of rate cuts, with companies like D.R. Horton, Lennar, and PulteGroup being highlighted; however, the underlying demand remains sluggish despite lower rates and builder incentives [6]. Economic Scenarios - Two potential scenarios are outlined: a spike in unemployment leading to a flight to safety in financial markets, which could lower mortgage rates, or a severe recession prompting the Fed to cut rates and possibly resume purchasing mortgage-backed securities [5].

Group 1: Valuation and Market Performance - The current trading valuation for banks is around two times tangible book value, which is higher than recent historical levels, but this is not seen as a concern due to potential for continued outperformance [1][2] - The cyclical high for banks was noted at 2.2 times tangible book value in January 2018, indicating that there is still room for growth in valuations [2][3] - There is a significant discrepancy in performance among banks, with Citigroup up 40% this year compared to Bank of America and Wells Fargo, which are up 14% [7] Group 2: Regulatory Environment - The regulatory outlook for banks is considered the best in decades, with expectations of increased profitability leading to higher valuations [3] - Recent changes in regulatory leadership suggest a less onerous approach, with new proposals expected to be more favorable for large banks [4][5] - The new Fed chair is anticipated to support economic growth, which could benefit banks through lower interest rates without triggering high inflation [6] Group 3: Interest Rate Environment - The current interest rate environment is favorable for banks, with potential Fed cuts of 50 to 75 basis points expected in the next three to six months [10] - A steep yield curve with a Fed funds rate above 3% has not been seen in over 20 years, allowing banks to benefit from low-cost deposits while lending at higher rates [11] Group 4: Company-Specific Insights - Citigroup is viewed as a turnaround story, successfully exiting unprofitable businesses and focusing on profitability, which has made it more attractive to investors [8] - Goldman Sachs is performing well in capital markets, benefiting from increased IPOs and merger and acquisition activity, indicating a positive outlook for the company [12]

Accessibility StatementSkip Navigation CHARLOTTE, N.C., Sept. 16, 2025 /PRNewswire/ -- Bank of America today announced that the company has been ranked the number one small business lender across the U.S. for the 17 consecutive quarter, according to the Federal Deposit Insurance Corporation (FDIC). The FDIC publishes quarterly data on U.S.-based business loan balances for original loan amounts up to $1 million. Based on which, Bank of America has maintained this industry leadership position for more than 4 ...