Why Bank Of America Shares Are Rising

Shares of several companies in the broader financial sector, including Bank of America Corp BAC, are trading higher amid an increase in US Treasury yields.

The 10-year Treasury yield hit an intraday high of 1.686% Tuesday morning before dipping to around the 1.663% level. Overall market volatility is otherwise persistent during Tuesday's session as investors continue to weigh omicron concerns.

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Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking and global markets.

Bank of America has a 52-week high of $53.14 and a 52-week low of $29.40.