BofA’s Equities Business Stands Out Again. NII To Rise In H2

Net interest income at Bank of America slipped on a YoY basis for the second consecutive quarter in Q2, according to results released on Tuesday. $13.7 billion (the GAAP print) was the lowest since the Fed started hiking rates. NII slipped sequentially as well, falling $300 million from Q1 on higher deposit costs. Don't fret, though. These are still very large hauls and besides, Q2 was likely the low for the year. The deck suggested NII will be $14.5 billion in Q4. The forecast appeared to ass