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Economists expect the second quarter to show the brunt of the pandemic's fallout, leading any new patterns to shape investor actions moving forward.
"Government and corporate bond prices have been fixed by central banks...why would anyone expect stocks to price rationally?" the firm said.
After the remote transition, some Wall Street firms are already considering how coronavirus could permanently transform the way they work.
A return to 2019 fund allocations could drive $1 trillion back into stocks and send equity prices soaring, the bank's analysts said.
BANK OF AMERICA: Stocks haven’t been this attractive relative to bonds in 70 years, suggesting further gains are coming
The stars have aligned for more stock gains, Bank of America says. The firm sees equities the most attractively valued in decades, versus bonds.
The current pace of bond offerings trounces last year's, as $1.14 trillion in high-grade debt was issued through all of 2019.
Bank of America’s CEO doesn’t see the US economy fully recovering until the end of 2021 — but says credit damage has been surprising...
"Right now you're not seeing the type of credit damage that you'd expect to see with this amount of downdraft in activity," CEO Brian Moynihan said.
In the first quarter of 2020, the average credit card interest rate in the US was 15.09%, according to data from the Federal Reserve.
A family-run small business in the Bay Area got its PPP loan after Business Insider dug into their case. Tens of thousands are still waiting.
Nearly two months after the Paycheck Protection Program was launched, tens of thousands — if not more — businesses are still waiting to be approved.
Nearly 70% of surveyed managers view April's stock bounce as a bear market rally, while only 25% view the move as ushering in a new bull market.