Five Things You Need to Know to Start Your Day

BofA’s CEO is bullish on a soft landing. Oil jumps. Chinese investors are gloomy about property. Here’s what you need to know today.

Bank of America CEO Brian Moynihan said his firm still projects a soft landing for the US economy rather than a recession, due to continued strength in consumer spending. “We won’t have a recession,” Moynihan told the Economic Club of New York, noting that, while consumer spending has softened since earlier this year, it remains strong. BofA customer savings continue to be robust as well.