BofA Says Trading Revenue Is Trending Better Than 15% Projection

Bank of America Corp.’s trading desk is seeing momentum gaining steam, with revenue trending higher than the 15% increase the bank forecast last month, according to co-President Jim DeMare.

“I think we’re going to be a little better than that,” DeMare said Tuesday at the Morgan Stanley financial-services conference.

Chief Executive Officer Brian Moynihan said at the end of May that second-quarter revenue from sales and trading was likely to be about 15% higher than a year ago. DeMare said the markets division has been trending up since that projection, specifically because of strength in the stock-trading business. ...