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Story summary
- Bank of America CEO Brian Moynihan said investment-banking fees will decline over 10% in Q3.
- He added that the bank expects trading revenue to be roughly flat for the same quarter.
- Dealogic data shows the overall investment-banking market is down 10%, contrasting with a 50% fee rise in Bank of America’s Q2.
- Bank of America shares fell 5% in afternoon trading Monday after Moynihan’s comments.