A Hawkish Fed Is Bad News for Borrowers. It’s Good News for This Bank.
· finance.yahoo.com
The Federal Reserve just handed Bank of America a mechanical earnings tailwind, yet investors sold the stock hard. One of these sides is badly wrong, and the answer lives inside a balance sheet most analysts are reading incorrectly.
Quick Read
BAC's asset-sensitive balance sheet earns ~$1B in additional net interest income for every 100 bps rate hike, yet shares fell 3% after the Fed raise...