Citi, Bank of America post higher profits as traders cash in on tariff turmoil
1. BAC reported better-than-expected Q1 profits of $7.4 billion, up 11%. 2. Trading revenues increased, driven by market volatility and client transactions. 3. Investment banking fees decreased by 3% compared to last year. 4. Future M&A activity may decline, affecting BAC's overall profits. 5. Ongoing trade tensions could lead to economic turbulence.