Bank of America still paying the price for being too careful

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The story "Bank of America still paying the price for being too careful" was covered 12 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 12h ago

Bank of America still paying the price for being too careful - Financial Times

Quick Summary:

The bank’s unrealised losses on bonds it plans to keep until maturity, which had fallen this year, rose in the fourth quarter to $108bn.

The difference between the two and 10-year Treasury yields is currently 39 basis points — around a three year high. But as its fourth-quarter earnings showed, some things weighing on the bank’s valuation might get worse before they get better.

But more than his large peers, Bank of America’s valuation - which currently sits at a middling 1.3 times price to book value - hinges on Moynihan’s past balance-sheet decisions - and how soon he can put them behind him.