The Globe and Mail reports in its Thursday edition that Bank of America's profit rose in the first quarter, as volatility in the global markets lifted trading activity and a rebound in mergers and acquisitions boosted the lender's investment banking fees. A Reuters dispatch to The Globe says global equity markets entered 2026 on a bullish trajectory, buoyed by year-end momentum from interest-rate cuts worldwide in late 2025 and robust corporate earnings. However, that optimism soon evaporated, as a hawkish policy shift from the Federal Reserve, mounting fears of an artificial intelligence valuation bubble and escalating U.S. involvement in Middle East tensions softened markets. Volatile markets tend to benefit investment banks, as trading desks generate higher revenue from increased client activity. Bank of America's sales and trading revenue rose 13 per cent to $6.4-billion in the first quarter (all figures U.S.). Global megadeals remained on a strong footing in the first three months of 2026, with transactions in the first quarter exceeding $1.2-trillion. BofA Securities secured key advisory roles on several of the quarter's largest mandates, including McCormick's $42.7-billion acquisition of Unilever's food business.