In the meantime, fundamental offerings on the US docket Friday were not immediately market-moving. The 4Q earnings season found a big boost from a range of important reports. GE and Google carried the upper end of the spectrum; but systemically important Bank of America reported a miss. What’s more, with the New York Fed trying to force the company to take back 10’s of billions of dollars worth of bad mortgages, its five-fold increase in loan loss provisions to $4.1 billion means this is a serious concern on both sides.
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