bofa – DIGIT INFO

Bank of America Predicts Bullish Trend for Silver, Prices to Hit $35/oz by 2026

DIGIT — Tue, 18 Jun 2024 18:25:32 +0000

Bank of America (BOFA) forecasts a bullish trend for silver, anticipating an increase in prices through the latter half of 2024 into 2025. BOFA analysts project silver prices to average $35/oz by 2026, compared to the current spot price of $29.19/oz. This optimistic outlook is driven by expectations of an end to central bank interest […]

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Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

DIGIT — Thu, 18 May 2023 06:30:13 +0000

Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves for a potential credit crunch and a recession. Flight to Safety: Investors Increase Cash Reserves and Brace for […]

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Bank of America: Threats to US Dollar’s Dominance Largely Domestic — Not BRICS Currency or Chinese Yuan

DIGIT — Tue, 09 May 2023 03:49:55 +0000

Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt ceiling discussions,” the bank’s analysts stressed. Bank of America […]

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Bank of America Strategist Predicts Gold Could Reach $2,500 per Ounce in 2023

DIGIT — Fri, 28 Apr 2023 10:30:08 +0000

A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve the projected $2,500 target, […]

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Bank of America Expects the Fed to Keep Hiking Rates Until ‘Point of Pain’ for Consumer Demand

DIGIT — Sun, 05 Mar 2023 01:00:05 +0000

Bank of America has warned that the Federal Reserve will have to keep raising interest rates until it finds “the point of pain for consumer demand.” Expecting a slowdown in consumer demand to “lead to an outright recession,” the bank’s economist cautioned that “additional Fed hikes would also mean more pain for the interest-sensitive non-consumer […]

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Bank of America Is Preparing for Possible US Debt Default, Says CEO Brian Moynihan

DIGIT — Wed, 08 Feb 2023 01:30:30 +0000

Bank of America is preparing for a possible U.S. debt default, says CEO Brian Moynihan. He is not a fan of eliminating the debt ceiling altogether as some lawmakers have proposed. Meanwhile, Treasury Secretary Janet Yellen says “every responsible member of Congress must agree to raise the debt ceiling.” Bank of America CEO Brian Moynihan […]

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Bank of America: ‘Digital Currencies Appear Inevitable’

DIGIT — Sun, 22 Jan 2023 07:49:46 +0000

Bank of America says “digital currencies appear inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s monetary and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.” Bank of America on Future of Money and Payments Bank of America (BOA)’s global […]

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Bitcoin’s Rising Correlation With Gold Indicates Investors See It as a Safe-Haven, Says Bank of America Market Strategists

DIGIT — Mon, 24 Oct 2022 18:00:50 +0000

Amid the economic uncertainty affecting a myriad of countries worldwide, Bank of America Securities market strategists explained in a note this week that the leading crypto asset bitcoin has been correlated with the well known precious metal gold. Bank of America analysts Alkesh Shah and Andrew Moss noted “that investors may view bitcoin as a […]

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Bank of America’s Survey of Wealthy Americans: Younger People Are 7.5 Times More Likely to Hold Crypto in Their Portfolios

DIGIT — Sun, 16 Oct 2022 03:30:05 +0000

Bank of America has found that younger wealthy Americans are 7.5 times more likely to hold crypto in their portfolios than investors aged 43 and older. “If the youngest cohort isn’t confident in stocks, where do they see opportunities for investment growth? Alternatives, including cryptocurrencies, which are their No. 1 choice,” the bank wrote. Young […]

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Bank of America Predicts US Recession This Year as Inflation Hits 40-Year High

DIGIT — Thu, 14 Jul 2022 23:30:11 +0000

Bank of America has forecasted that the U.S. economy will slide into a recession this year. “A number of forces have coincided to slow economic momentum more rapidly than we previously expected,” the bank’s economists said. US Economy Heading Into a Recession This Year, Says Bank of America Bank of America’s economists now expect a […]

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