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As Long As You Don’t Care About That FICC Miss, JPMorgan Results Look Ok
On Friday, JPMorgan kicked off big bank earnings, and in addition to being a bellwether of sorts for the industry, the numbers are likely to help set the tone for better or worse following two consecutive days of outsized losses on Wall Street.
After two straight quarters of impressive trading revenue, it looks like Q3 was a miss. Markets revenue was $4.4 billion, down 2%. Fixed income revenue was $2.8 billion, that's down 10% YoY and looks like it missed estimates pretty handily. Equities reve
My conclusion is that the FED should wait a while before hiking rates again. The world economy is slowing down, stock markets should be more worried about that instead of obsessing on the T-Bond yield. CPI was mild, not only in US, all over the world (ok, let’s not talk about Turkey and Venezuela)