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Bank of America joins Wall Street rivals profiting from trade-war woes

“Bank of America rose 0.4 percent to $29.91 in New York trading on Monday morning” writes Daniel Tepper Bloomberg for washingtonexaminer.com. Bank of America delivered record stock-trading results at the start of 2018, benefiting like two of its biggest rivals from rising volatility amid the growing risk of a trade war.”Performance in equities was strong as volatility increased,” Chief Financial Offer Paul Donofrio said on an earnings call.Net interest margin, which gauges the profitability of bank lending, rose to 2.41 percent, topping the 2.39 percent projection of Keefe, Bruyette & Woods analyst Brian Kleinhanzl.
 
Source: washingtonexaminer.com



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