Buffett's Bank of America Stock Selling Spree Surpasses US$10b
Berkshire's Latest Sale of Bank of America Stock Puts Its Stake at Just Above 10%
Buffett continues to sell stocks of bank of america (BAC.US), with total cashed out exceeding 10 billion US dollars.
Warren Buffett's conglomerates further reduced their shareholding in Bank of America, cashing out over 10 billion US dollars in the consecutive months of stock sell-off frenzy.
Bank of America(BAC.US) 10% Shareholder Sells US$383.04 Million in Common Stock
Bank of America Options Spot-On: On October 7th, 85,550 Contracts Were Traded, With 3.02 Million Open Interest
Citi changes its forecast for the Federal Reserve, expecting a 25 basis point rate cut in November instead of 50 basis points.
Citigroup economists stated in a report that they expect the Federal Reserve to cut interest rates by 25 basis points in November. After the strong September employment data was released in the United States last Friday, some Wall Street banks abandoned their forecast of a 50 basis point rate cut in November. "Federal Reserve officials are now confident in a 25 basis point rate cut in November," Andrew Hollenhorst said in a report; on September 19, the second day of the 50 basis point rate cut by the Federal Reserve, citigroup economists confirmed their forecast of a 50 basis point rate cut in November. However, they still expect, labor force.
