The yield on 10-year US Treasury bonds has risen by more than a third since late February, reaching 5.36%, its highest in 24 years, largely due to debate over Federal Reserve rate policy. Bank of America CEO Brian Moynihan said his economists expect three more Fed rate increases before inflation eases in 2028, yet he argued that US consumers are still spending strongly. Bank of America shares fell into bear-market territory after a 17% drop in third-quarter profit and a $1.2 billion fine over failures to detect potential money laundering. The IMF forecasts US GDP growth of 2.3% both this year and next, with consumers, who account for two-thirds of the economy, expected to spend about $22 trillion this year.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Bank of America CEO : The good news is that the US consumer is still spending strongly – The Irish Times
Read the original on irishtimes.com ↗
Related tickers and likely impact
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/15/2026 | 771.79 |
| Change that session | +0.28% |
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/15/2026 | 101.98 |
| Change that session | -0.53% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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