Please join Ralf Preusser in conversation with G10 rates and FX trading to discuss positioning and market liquidity. In this podcast Ralf and team will discuss how liquidity and positioning unwinds have contributed to considerable gyrations in FX and rates markets.

You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.

"Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

The card networks have historically been considered among the best and highest quality business models in public markets. But more recently, the card network stocks have de-rated as investors have grown concerned about perceived threats, from legislation to AI. Matt O'Neill recently reinstated coverage of the payments group and he joins the podcast to discuss these risks and why he believes fears are generally overstated. Relatedly, he discusses what transactions may look like in the future if consumers employ AI agents to do more of their purchasing and how AI may help with product discovery more imminently. We also address Buy Now Pay Later, which may not be the upstart it once was, but it's a segment where we expect compelling growth ahead, as well as an evolving business model.

You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.

"Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Please join Ralf Preusser in conversation with Ralph Axel, Katie Craig and Ebrahim Poonawala on US banks. The call will take place on Fri 20 March at 10 am ET, 2 pm GMT, 3 pm CET. We will discuss US bank liquidity regulations and the impact on bank behaviour, reserve and UST demand, Fed balance sheet and rates.

You may also enjoy listening to the Merrill Perspectives podcast, featuring conversations on the big stories, news and trends affecting your everyday financial life.

"Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.