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African companies’ hard-currency bond sales are running at the fastest pace in five years, according to Bank of America Corp, which predicts issuance will remain robust over the coming years.
Bank of America Corp. has kicked off the sale of investment-grade bonds, becoming the third major Wall Street firm to tap a turbulent market this week after reporting third-quarter results.
Regulators were on edge. After they’d pushed Bank of America Corp. to tweak a key compliance system to flag more suspicious transactions, the bank found it had missed a staggering amount: thousands of payments totaling $4 billion of activity.
Bank of America’s stock and fixed-income traders missed estimates in the third quarter, with bond-trading revenue falling 17% and equity trading down 10%. Chris Marinac, director of research at Brean Capital, examines the results on “Bloomberg Surveillance.” (Source: Bloomberg)
Bank of America’s stock and fixed-income traders missed estimates in the third quarter, with bond-trading revenue falling 17% to $2.55 billion and equity trading down 10% to $2.51 billion. The bank’s results were also hurt by a charge tied to a regulatory penalty over money laundering and sanctions violations. Kristine Aquino reports on Bloomberg Television. (Source: Bloomberg)
China could roll out additional economic support if growth weakened in the last three months more than Beijing could tolerate, according to Bank of America Corp.
Bank of America was fined more than $1.21 billion for money laundering and sanctions violations by US regulators. Katherine Doherty has more on "The Asia Trade." (Source: Bloomberg)
Colombia bonds: Bank of America raised the country’s external sovereign debt to overweight, citing a spending-led fiscal adjustment and lower deficits. The post Colombia Bonds Get Bank of America Overweight Call on 3.1% Primary Deficit appeared first on The Rio Times.
Wall Street’s enthusiasm for Nike Inc. has reached the lowest in at least a quarter of a century as Bank of America Corp. became the latest to sour on the troubled sportswear firm.