Bank of America's Michael Hartnett advises investors to buy the recent selloff in long-dated Treasuries, viewing yields above 5% on the 30-year note as a "great entry point," as he expects "bond vigilantes" to eventually force the U.S. government to address its increasing debt. This recommendation comes amidst surging U.S. bond yields driven by concerns over growing budget deficits and a recent Moody's credit downgrade, which have negatively impacted sentiment towards U.S. assets globally.
Bank of America
BAC
trading on NYSE
since 1973
$46.84
(Δ -0.95%)
-$0.45 since open
Bank of America is a global financial institution that provides a wide range of banking, investing, asset management, and other financial and risk management products and services to individual consumers, small and middle market businesses, large corporations, and governments worldwide.
| type | open | high | low |
market cap |
volume |
|---|---|---|---|---|---|
| stock | $47.76 | $48.03 | $47.19 | $356.66B | 40.02M |
| eps | p/e | p/s |
operating margin |
profit margin |
yield |
| +$0.91 | 14.19 | 13.30 | 29.66% | 27.03% | 2.39% |
