Here's a look at this morning's banking and finance news:
- Bank of America shares have rallied this year, but one analyst cautions investors that there's reason to wait before jumping on board, the Wall Street Journal reports. Now that the mortgage picture seems a little clearer, the focus will turn to earnings, he says.
- The Motley Fool is a little more optimistic, saying BofA has the biggest potential among its peers.
- Top U.S. banks captured the biggest piece of global trading revenue in at least two years as European banks reduced risk, Bloomberg reports.
- The New York Times details the California attorney general's role in negotiating the $25 billion foreclosure settlement with big banks announced last week. In the end, she walked away with much more than the state was slated to receive originally, the Times writes.
- Markets opened lower this morning on data showing weaker-than-expected January retail sales, Reuters reports.