Good Tuesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl

Continia and David Faber. We are live at post nine of the New York Stock Exchange. This

hour, Fed Chairman Kevin Warsh testifies before the House Financial Services Committee. His first

semiannual monetary policy report will take you to Washington for it live in just a moment.

But first, Bank of America turning higher this morning after reporting a top and bottom line beat with soaring equities trading revenue.

Let's talk about it right now.

Joining us in a CNBC exclusive interview is Bank of America CEO Brian Moynihan.

Brian, good morning and welcome back.

It's great to be here, Sarah. Good to see you again.

Good to see you as well. I mean, talk a little bit about these results, double digit gains across the business,

including in trading and investment banking, numbers that we haven't really seen before from you. So what kind of environment are you in?

Well, number one, all the businesses perform well.

They all had operating leverage.

They all had efficiency growth.

They all had strong revenue growth.

They all formed net new households. So all the businesses perform well, led by the markets-related business just because the

activity is very high.

So whether it's the

investment banking revenue which is up significant year over year, the trading revenue, which

is up significantly. And importantly, the wealth management revenue is up significantly. We feel

very good. The team did a great job this quarter, 34% EPS growth, really, really strong, 17%

return on change of common equity, things we thought we told

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