Bank of America Corp (BAC) TO Benefit From Rising Rates: DB

Deutsche Bank AG (NYSE:DB) (ETR:DBK) downgraded Citigroup Inc. (NYSE:C) and Morgan Stanley (NYSE:MS) last December, and generally became more concerned about fixed income, currencies and commodities (FICC) earnings, and if anything first quarter FICC was worse than they had expected and 2Q is looking weak as well. But a combination of low expectations and a possible pickup in FICC has convinced Deutsche Bank analysts Matt O’Connor, David Ho, and Robert Placet that it’s time to take a second look at market sensitive banks, especially Bank of America Corp (NYSE:BAC). “We sense some pick up within FICC in June given strong credit…