The Good and the Bad in Bank of America's 2Q Results

The transcript discusses Bank of America's recent strong quarter, highlighting improvements in investment banking and trading despite challenges from a flattening yield curve and lower rates. It compares Bank of America's trading revenue with peers like JP Morgan and Citigroup, noting a decline in equity trading but a rise in fixed income. The discussion also covers the return on tangible capital equity and challenges in the consumer banking unit, including increased provisions and slower portfolio improvement.

What was a significant factor contributing to Bank of America's strong quarter?

• Reduction in loan defaults

• Improvement in investment banking and trading

• Expansion of international operations

• Increase in consumer banking fees

How did Bank of America's equity trading revenue perform compared to its fixed income?

• Equity trading revenue increased by 7.6%

• Equity trading revenue increased by 22%

• Equity trading revenue remained flat

• Equity trading revenue decreased by 7.6%

Which area of trading is more significant for Bank of America?

• Commodity trading

• Fixed income trading

• Equity trading

• Foreign exchange trading

What was the trend in Bank of America's consumer banking provisions?

• Provisions increased by 37%

• Provisions remained unchanged

• Provisions decreased by 37%

• Provisions increased by 7.6%

How did Bank of America's year-over-year earnings per share and revenue compare?

• They were significantly higher

• They were slightly lower

• They were flat

• They were significantly lower