In this episode of Must Read Research on Global Research Unlocked, T.J. Thornton steps in for Candace Browning to explore several of the themes heating up markets this summer. We recap a strong start to earnings season, where broad-based growth is extending beyond AI and early results are running ahead of historical averages. We also examine the debate surrounding Netflix's engagement trends as investors weigh slowing viewing hours against new monetization opportunities and the company's long track record of adaptation. Beyond corporate earnings, we discuss how extreme temperatures across Europe are creating risks for global agriculture markets and what that could mean for corn production and pricing. Finally, we look at the evolving supply-demand backdrop for U.S. Treasuries as signs of softer foreign demand raise questions about future sources of support for the market.   "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.

 213      2