Bank of America sees ‘great convergence’ across America’s two economies
Back in July, I wrote an article titled “Bank of America warns America now has 2 economies.” At the time, the bank’s analysts saw an increasingly uncomfortable split beneath what has otherwise been a resilient U.S. economy. BofA used the popular term "K-shaped recovery" to…
Back in July, I wrote an article titled “Bank of America warns America now has 2 economies.” At the time, the bank’s analysts saw an increasingly uncomfortable split beneath what has otherwise been a resilient U.S. economy. BofA used the popular term "K-shaped recovery" to…
BELLINGS Intelligence Score: 12
Why it matters
Bank of America's observation of a 'great convergence' across America's two economies is an analytical commentary reflecting economic trends rather than a direct market-moving event or policy signal, thus it holds limited immediate significance for credit-market professionals.
Sources
TheStreet
Bank of America sees ‘great convergence’ across America’s two economies
Back in July, I wrote an article titled “Bank of America warns America now has 2 economies.” At the time, the bank’s analysts saw an increasingly uncomfortable split beneath what has otherwise been a resilient U.S. economy. BofA used the popular term "K-shaped recovery" to…