Because Mario Draghi wasn’t joking about that whole NIRP thing. And yes, negative deposit rates mean just that.
As the letter says, don’t worry: Bank of America has an extensive team of “liquidity and investment management solutions” experts who will gladly advise you to rotate your money out of deposits and into financial stocks, preferably that of BAC itself.
via Zero Hedge http://ift.tt/1m6DiVk Tyler Durden