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BOA leads charge into Treasuries as banks build US$2t holdings

Cash invested in 5-year Treasuries is netting banks an attractive spread over what they are paying depositors

Banks have a lot of cash and lending has loosened, but often it is still just simpler for banks to own Treasuries.

New York

WHAT do America's banks know about the state of the US economy that has them hoarding ultra-safe bonds?

Growth is on a tear, hiring is the strongest in decades and households are the most upbeat since 2011. Yet banks such as Bank of America Corp keep ploughing their...

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