Buyers of 10-year Treasury notes are betting the U.S. Federal Reserve is not finished raising interest rates. That’s because the yield on the notes has kept rising even though Fed Chairman Jerome Powell has repeatedly and strongly suggested that the central bank is done raising rates. And usually, the yield on the 10-year notes stops climbing when the Fed is done hiking. I don’t expect the Fed to hike rates again, primarily because wages and inflation seem more or less under control. At their current levels ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Bank of America (BAC) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 16. On ...

Key PointsLower interest rates ahead could cause savings yields to fall as a result, making dividend stocks more attractive. Three names stand out as they operate in financially stable industries, making their high yields affordable. Each counting with different fundamental tailwinds, analysts think that they could be a potential addition to income portfolios.5 stocks we like better than D.R. HortonMost people have not—and likely will not—realize one of the biggest side effects of the potential interest rat ...

CHARLOTTE, N.C., April 8, 2024 /PRNewswire/ -- Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock: Series of Preferred Stock Dividend per Share or Depositary Share1 Record Date Payment Date Floating Rate Non-Cumulative Preferred Stock, Series E $0.36991 April 30 May 15 Floating Rate Non-Cumulative Preferred Stock, Series F $1,531.00267 May ...

Bank of America ’s virtual financial assistant, Erica , is now engaging with clients 2 million times per day.“Erica acts as both a personal concierge and mission control for our clients,” Nikki Katz , head of digital at Bank of America, said in the release. “Erica meets clients where they are and when they need us and has become a true guide by their side.”While it took four years for Erica to reach 1 billion interactions , it took only 18 months to add another 1 billion, according to the release.Clients’ u ...

Wall Street banks like Bank of America (BAC) , Goldman Sachs (GS) and Citigroup Inc. (C) are competing to handle oversea investments of Australian pension funds.Particularly, Australian pension funds are increasingly investing more of their funds overseas, given the limitation of investment options in the small domestic private and public markets. Hence, banks like GS, BAC and C can offer foreign currencies trading services and handle foreign exposure hedging needs of the funds.In recent years, Australian p ...

"Erica acts as both a personal concierge and mission control for our clients," said Nikki Katz, Head of Digital at Bank of America. "Erica meets clients where they are and when they need us, and has become a true guide by their side." Over the last six years, Erica's capabilities have expanded to support individual and corporate clients across the enterprise, including within Merrill, Benefits OnLine®, and the award-winning CashPro® platform. "Erica is a great example of applied innovation in language proce ...

It’s time for full-fledged releases of quarterly earnings. Big banks will start reporting from next week. Let’s dig deeper into the likely earnings picture of the big six banking companies that could drive the performance of the sector ahead. For the Finance sector, total Q1 earnings are expected to be up 3.7% on 2.4% higher revenues. This would follow the sector’s 12.4% earnings growth on 8.4% higher revenues in 2023 Q4, per the Earnings Trends issued on Apr 3, 2024.According to our methodology, a Zacks Ra ...

The house is like a bait inside a trap ADragan/iStock via Getty Images The Toronto-Dominion Bank (NYSE:TD)(TSX:TD:CA) and Royal Bank of Canada (RY)(RY:CA) are Canada’s biggest banks. Royal Bank is the biggest by market cap and total assets, while TD has the largest U.S. banking segment. Despite looking similar on the surface, there are important differences between TD and RY. For one thing, 40% of TD’s earnings come from U.S. retail banking, while Royal Bank earns a higher percentage of profit in Canada. ...

Per a Reuters report, Bank of America Corporation (BAC) is likely to face a lawsuit for failing to honor a promise to refund overdraft fees to customers facing financial trouble during the COVID-19 pandemic.On Wednesday, U.S. District Judge Yvonne Gonzalez Rogers ruled that customers probably suspected that even after quietly ending its Client Assistance Program on Aug 31, 2020, BofA misinformed customers on its website and mobile application as it continued to promise relief from overdraft and insufficient ...