Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu Katherine Doherty, Bloomberg News Finance Reporter, LIVE from Bank of America Investors day in Boston Redd Brown, Bloomberg News equities reporter on McDonald&#x27;s earnings. Steve Miller, Chair of the ISM Services PMI, on ISM Services data See omnystudio.com/listener for privacy information.

Bank of America's Investor Day, McDonald's Earnings Report, ISM Services Data

Bloomberg Intelligence

# Full Transcript

**Podcast:** Bloomberg Intelligence

## Participants

- **Katherine Doherty** (Bloomberg News)
- **Redd Brown** (Bloomberg News)
- **Steve Miller** (ISM)

## Transcript

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Hello and welcome. This is The Michelle Hussain Show. I'm Michelle Hussain. I speak with people like Elon Musk. I think I've done enough. And Shonda Rhimes. That's so cute. This will be a place where every weekend you can count on one essential conversation to help make sense of the world. So please join me, listen and subscribe to The Michelle Hussain Show from Bloomberg Weekend, wherever you get your podcasts. You certainly ask interesting questions.

Bloomberg Audio Studios. Podcasts. Radio. News. You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10 a.m. Eastern. On Apple CarPlay and Android Auto with the Bloomberg Business App. Listen on demand wherever you get your podcasts. Or watch us live on YouTube. It is Bank of America's Investor Day. And this is the first Investor Day the bank has held in about 15 years.

And it comes as the stock of Bank of America has trailed its big bank peers. Not just this year, but as Catherine Doherty of Bloomberg News points out, last year and for the past five years as well. Catherine joins us now from Boston, right outside the Bank of America Investor Day taking place. Catherine, Bank of America has come out with some new targets that it's talking up, talking about at least 12% earnings per share growth annually over the next several years.

What is the unifying narrative that the bank is offering up right now to explain these new targets? So we have a new narrative today, and it expands from the old narrative of responsible growth. That is a phrase that CEO Brian Moynihan has used talking about building the bank coming out of the financial crisis. He's talked about using responsible choices and being explicit about the risks that the bank is taking on in order to grow revenue.

Well, today we heard a new phrase. He's been repeating this phrase where he says that the growth is on...

Bank of America's Investor Day, McDonald's Earnings Report, ISM Services Data

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Bank of America's Investor Day, McDonald's Earnings Report, ISM Services Data

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.