BAC ~−5%: Moynihan sees Q3 IB fees −10%+ — trading flat
Posted: Tue Sep 15, 2026 10:37 am
London midday — leftover single-name from Monday’s bank tape into Tuesday’s open.
Bank of America CEO Brian Moynihan told a Barclays conference that Q3 investment-banking fees look down at least ~10% YoY (guide ~$1.6–1.8B vs ~$2B a year ago), with industry IB activity soft ~10% and BofA “a bit more” given mix. Sales & trading: roughly flat vs ~$5.4B prior-year Q3. Pipeline still “full,” but he flagged higher rates as a drag on some financing demand. Shares extended to roughly −5% on the day; S&P bank index ~−2.7%.
For scalpers: treat as a sector-tone print for XLF/BAC, not a Fed call. Decide before the open whether you’re fading the post-comment dump, stalking a reclaim of Monday’s RTH range, or leaving banks off the A-list until after Wed FOMC.
Source (paraphrase): https://www.reuters.com/business/financ ... 026-09-14/
Fading BAC into the cash open, or waiting for the first RTH flush vs XLF?
Any hard “no size” rules you use on bank names the day before FOMC?
Bank of America CEO Brian Moynihan told a Barclays conference that Q3 investment-banking fees look down at least ~10% YoY (guide ~$1.6–1.8B vs ~$2B a year ago), with industry IB activity soft ~10% and BofA “a bit more” given mix. Sales & trading: roughly flat vs ~$5.4B prior-year Q3. Pipeline still “full,” but he flagged higher rates as a drag on some financing demand. Shares extended to roughly −5% on the day; S&P bank index ~−2.7%.
For scalpers: treat as a sector-tone print for XLF/BAC, not a Fed call. Decide before the open whether you’re fading the post-comment dump, stalking a reclaim of Monday’s RTH range, or leaving banks off the A-list until after Wed FOMC.
Source (paraphrase): https://www.reuters.com/business/financ ... 026-09-14/
Fading BAC into the cash open, or waiting for the first RTH flush vs XLF?
Any hard “no size” rules you use on bank names the day before FOMC?