Bank of America (BoFA) analysts discuss the impact of the return to work trend on the technology sector during an Embassy Analyst Meet. BoFA estimates that around 60% of pandemic-related excess savings have been spent. BoFA's Levine expects spending to increase by 3-3.5% in the last 30-day period, with deposits still higher than pre-pandemic levels.
❖ BOFA'S LEVINE NOTES DEPOSITS ARE STILL MORE THAN PRE-PANDEMIC
🔴 BOFA'S LEVINE: I SEE SPENDING UP 3-3.5% IN LAST 30-DAY PERIOD.
❖ BOFA SEES SPENDING UP 3-3.5% IN LAST 30-DAY PERIOD, LEVINE SAYS
"Our estimates suggest about 60% of [pandemic-related] excess saving has been spent so far." - BofA https://t.co/vRKaLr71Qf
Brokerage Radar | BoFA on Embassy Analyst Meet says, "Importance of return to work have helped trend for technology sector" @BankofAmerica https://t.co/ZSOjaoAY4N