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JPMorgan’s Doing Fine, If You Were Wondering
Remember: Volatility's a boon if your business (or one of your businesses) is facilitating trades.
"Clients were active," Jamie Dimon said Wednesday, when JPMorgan unveiled a set of results that included a sizable FICC beat, which in turn drove a 21% gain for the bank's markets division.
JPMorgan thanked a lively quarter in credit and currencies, as well as an uptick in emerging market-related trading for $5.01 billion of FICC revenue. That was easily ahead of the $4.37 billion consensus.
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Speaking of a fool’s errand, how can anyone accurately predict trading revenue? Unless they have an internal source of information …
Prediction = Guess