For most global markets franchises, 2023 was a year to be withstood rather than celebrated. But one bank bucked the trend with a performance that puts its rivals firmly on notice that it is now among the leaders in this business. For a remarkable improvement that built on an already impressive progress the previous year, Bank of America is the world’s best bank for markets.
It was not hard to identify the chief challenge for market participants in 2023 – the year started with 10-year US Treasuries at mid-3% yields and peaked in October close to 5%.
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