The Traderszone Network

Published in TZ Latest News 13 June, 2014 by The TZ Newswire Staff

Here Are The Funniest Quotes From BofA As It Throws In The Towel On Its "Above-Consensus" GDP Forecast

It is hard not to gloat when reading the latest embarrassing mea culpa from Bank of America’s Ethan Harris, who incidentally came out with an “above consensus” forecast late last year, and has been crushed month after month as the hard data has lobbed off percentage from his irrationally exuberant growth forecast for every quarter, and now, the year. As a result, BofA has finally thrown in the towel, and tongue in cheekly admits it was wrong, as follows: “our tracking model now suggests growth of -1.9% in 1Q and 4.0% in 2Q for a first half average of just 1.0%….

read more