BofA CEO Moynihan: Investment Bank to Make Money Anytime

The transcript discusses the performance and restructuring of fixed income and equity trading at Bank of America. It highlights the consistent profitability in fixed income trading and the strategic adjustments made in equity trading to adapt to market conditions. The focus is on maintaining a balanced business relative to the bank's size and leveraging a straightforward strategy for recurring revenue. The dynamic nature of the trading environment and the need for continuous adaptation are emphasized.

In what ways has Bank of America adapted its equity trading strategy?

What challenges does the fixed income business face according to the text?