Bank of America stock drops as Treasury yields dip in thin year-end trade
Bank of America shares fell 1.3% to $55.43 Monday as major U.S. banks slipped in thin year-end trading. The 10-year Treasury yield dropped to 4.12%, narrowing bank lending margins. JPMorgan, Citigroup, and Wells Fargo also declined. Investors await Fed minutes, jobless claims, and Bank of America’s January 14 earnings report.