The Bank of America CEO’s perch allows a terrific view on economic trends as well as changes in trends. This morning, his remarks in a Bloomberg interview caught our attention. Quoting from the resulting article:
“…[Bank of America’s] corporate customers are enthusiastic and already seeking funds to expand, according to Chief Executive Officer Brian Moynihan. Mid-sized companies ‘are friskier, they’re more active,’ Moynihan, 57, said in an interview with Bloomberg Television’s David Westin for broadcast Thursday. Recently, some have been drawing down credit lines to invest in operations, he said. ‘They feel better about the prospects of the regulatory environment and their businesses. They feel better about the possibility of final demand.’”
While these are early observations, this is the U. S. corporate response we suggested could occur in our post-election blog post dated November 10th, This is the Way America is Supposed to Work. More to come.
Source: Bloomberg News