Look at BofA’s Numbers. The Consumer Is Weakening.
The consumer is weakening, there is no doubt. This consumer weakening has played out in slow motion. The trend is likely to continue in my view so long as interest rates remain elevated. Elevated rates translate to higher borrowing cost for the consumer. This at a time when the price of goods and services remains elevated while consumer assets have declined in value from 2021 highs.
We have augmented some of Bank of America’s (ticker: BAC), Consumer-segment slides from today’s earnings presentation with our commentary. Email us at info@tek2day.com if you wish to receive a copy of the PDF version.
