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Bank of America CEO sees at least 10% drop in Q3 investment banking fees
Source: reuters.com
Corporate Guidance & OutlookBanking & LiquidityCompany Fundamentals
Bank of America expects third-quarter investment-banking fees to decline by at least 10%, while sales and trading revenue is projected to be flat, CEO Brian Moynihan said. The outlook signals weaker capital-markets activity and creates a modest near-term earnings headwind for the bank.
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