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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe next sustained growth in earnings could come in second half of 2024, says BofA's Keith BanksKeith Banks, Bank of America vice chairman and head of investment solutions, joins 'Squawk Box' to discuss the latest market trends, Treasury yield volatility, economic outlook, and more.
Persons: BofA's Keith Banks Keith Banks Organizations: Bank of America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rolling recession has taken out the risk of a hard landing, says BofA's Keith BanksKeith Banks, BofA vice chair and CIO of the pension and benefits plan, joins 'Squawk Box' to discuss the latest market trends, earnings season so far, recession fears, and more.
Persons: BofA's Keith Banks Keith Banks
The US is in a rolling recession that's hitting sector by sector, Bank of America's Keith Banks said. Banks pointed to weakness in manufacturing, energy, and housing, though services remains strong. He predicted a mild recession to come in the first-half of 2024, with GDP slowing 1%-1.5%. "We think this sort of rolling recession has taken out that big-bang risk of a hard landing, which a lot of people were worried about at the beginning of this year," he later added. Other commentators have turned more optimistic on the economy as the job market remains strong and inflation cools.
Persons: Bank of America's Keith Banks, Banks, that's, Keith Banks, We've, there's Organizations: Bank of America's, Service, Bank of America, CNBC Locations: Wall, Silicon
Bank of America's Keith Banks on the fair market price
  + stars: | 2023-03-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of America's Keith Banks on the fair market priceKeith Banks, Bank of America vice chair and chief investment officer of the pension and benefits plan, joins 'Squawk Box' to discuss his investing alternatives to stocks and bonds, his thoughts on a fixed income, and more.
Watch CNBC's full interview with Bank of America's Keith Banks
  + stars: | 2023-03-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Bank of America's Keith BanksKeith Banks, Bank of America vice chair and chief investment officer of the pension and benefits plan, joins 'Squawk Box' to discuss his investing alternatives to stocks and bonds, his thoughts on a fixed income, and more.
Starting with the January jobs report released Feb. 3, it has been a relentless stream of bad news on the inflation front. Surprisingly, we are a mere 4% off the recent highs of early January and are flat for the week going into Friday trading . Investor sentiment is awful The AAII Sentiment Survey, a survey of the membership of the American Association of Individual Investors, indicated bearish sentiment remained unusually high, and bullish sentiment unusually low. Bullish: 23.4% (historic average: 37.5%) Bearish: 44.8% (historic average: 31.0%) Neutral: 31.8% (historic average: 31.5%) Source: AAII "The market's between a rock and a hard place," Alec Young, chief investment strategist at MapSignals, told me. Bottom line: the markets are still hostage to inflation and the Fed.
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