Bank of America – Why a BAC Breakout Happens on Lending Growth

May Motor Vehicle Sales offered fantastic evidence of robust business activity for Bank of America (NYSE: BAC). That fact is not just because the bank does a good deal of auto lending generally, but because it implies banks and BAC are lending more freely now after meeting the Fed’s raised capital requirements. While the interest rate outlook is certainly a support for the banks, this driver of lending activity will serve the top and bottom lines in an important manner. Thus, Bank of America remains of one my favorite long ideas. See the report on BAC here.

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