Bank of America

Bank of America

All Eyes On Yellen After US Futures, Euro Stocks Rebound On Latest French Polls

World stocks pulled back from all time highs, and European bourses initially followed U.S. futures and Asian shares lower, however both European risk sentiment as well as E-Minis rebounded after an Odoxa poll showed Macron overtaking Le Pen in the 1st round for the first time, and that the addition of Juppe instead of Fillon may see a 2nd round run-off between Macron vs Juppe, leading to a slump in Bund futures to session lows, and a bounce in European stocks.

"Trump Makes America Wait Again" - Why Not Everyone Was Happy With Trump's Address

"Financial bubbles, most notably the dotcom era, have proven that hopes and dreams can keep the market irrational longer than most of us can remain solvent. At some point though, reality catches up. And 40 days in to Trump’s administration, there’s little sign that Trump will deliver much of a boost to the U.S. economy on any imminent horizon."

BofA's Institutional Clients Are Suddenly Selling Everything

Bank of America clients’ optimism continued to wane last week as clients sold US equities for the second consecutive week after having been net buyers the prior 14 weeks since the election. Even private clients who have been the most aggressive buyers in the past few months, joined the selling? What did they sell: pretty much everything.

Banks "Gag" Analysts From Discussing Politics On Air

Major banks are cracking down on market - and especially currency - analysts talking publicly about politics for fear of appearing to take sides, with HSBC taking its main global currencies commentator off air in an intensification of the crackdown.

Bank of America Clients Sell Stocks For The First Time Since The US Election

According to the latest weekly BofA client data, "smart money" investors have finally tempered their euphoric optimism, and last week during which the S&P 500 climbed to another new high, BofAML clients took advantage of the surge in "greater fools" and turned net sellers of US equities for the first time since the week prior to the US election in early November.

When Speculators Prosper Through Ignorance

"Speculators often prosper through ignorance; it is a cliche that in a roaring bull market, knowledge is superfluous and experience is a handicap. But the typical experience of the speculator is one of temporary profit and ultimate loss."

The Four Key Themes From Q4 Conference Calls

Since President Trump’s surprise victory over Hillary Clinton in November, investors and management teams have been acutely focused on the new administration’s policy proposals. As expected, all 4 key themes discussed on Q4 conference calls are closely linked to Trump's policies and include tax reform, regulation, fiscal spending and trade policy.

Mary Jo White Seriously Misled The US Senate To Become SEC Chair

Yesterday it was widely reported in the business press that Mary Jo White is returning to her former law firm as a partner representing clients who face government investigations. This news is highly significant because it would appear that the U.S. Senate was seriously misled by White’s ethics letter in its deliberations to confirm her as the top cop of Wall Street.