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
Add BT as a preferred source
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 burgeoning deposits into US government and related debt - pushing the industry's holdings past US$2 trillion - instead of lending it all out.
TRENDING NOW
Eu Yan Sang family members sell Bishopsgate bungalow for S$40 million
Asia-Pacific aviation: is up really the only way?
What’s luck got to do with it? Everything, says Malaysian jewellery king Tomei’s chief
Clinical input, real-world testing: How SingHealth wants medtech firms to build with hospitals, not just for them
