Bank of America CEO Says Q2 Trading Revenue to Rise by Nearly 10%

Bank of America (NYSE: BAC) should see a revenue improvement this quarter in one crucial area for U.S. banks -- securities trading revenue. In an industry conference on Wednesday, the sprawling bank's CEO Brian Moynihan said he expects that the revenue for this category will increase at high single-digit percentage rates -- "probably closer to 10%," in Moynihan's words -- on a year-over-year basis in the current Q2.

Much of this has to do with equities trading volume, which has seen sharp increases amid general market volatility lately in the wake of the SARS-CoV-2 coronavirus outbreak that has spread throughout the world. According to Moynihan, Bank of America is also benefiting from secondary share issues during the period.

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