On the personnel side, after 10 years mortgage icon Gary Cipponeri is leaving the bank to start a new company, according to two people with knowledge of the move, according to Bloomberg'sJody Shenn, who stays up on such things.
Recently Jody Shenn of Bloomberg writes, "Bank of America Corp., which had been warning investors to avoid U.S. government-backed mortgage securities, reversed its call this week.
The reason: oil prices are stabilizing.
Yes, oil prices have been falling for over six months, culminating to a seven-year low.
The selloff in oil is helping to shrink inflation expectations with people who follow such things (that would be everyone who isn't living off-grid in Alaska, by the way).
Ms. Shenn continues, "The 10-year Treasury yields dropped to 1.64 percent from 2.17 percent at the start of the year.
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