Bank of America is trading at ARS 23030.00, down 3.19%, after CEO Brian Moynihan forecast lower Q3 investment-banking fees.
- Q3 investment-banking fees are projected at $1.6 billion–$1.8 billion, below approximately $2 billion last year.
- He also projected roughly flat sales-and-trading revenue, disappointing expectations and extending the selloff.
- Broader pressure from the Fed’s rate hike, elevated Treasury yields, and weaker financial-sector sentiment is adding to the decline, but the company-specific outlook remains the primary catalyst.