Hints and tips:
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...Marcus, the consumer-finance platform of fellow Wall Street Category-V bank Goldman Sachs, launched a similarly competitive interest rate, back when claiming to have been paid any kind of interest was in...
...If you’ve got thoughts for a topic that would suit the Future of Money, you can email me at sid.v@ft.com. Please let us know how you’re finding the newsletter in our survey below. Happy reading!...
...You can reach me at sid.v@ft.com. Happy reading!...
...JPMorgan Chase, UBS, Julius Baer, Jefferies, Cantor Fitzgerald and (most recently) Deutsche Bank have turned to Movius to keep track of calls, text messages and WhatsApp conversations....
...JPMorgan Chase cut its 2022 growth forecast for the country from 4.3 per cent to 3.7 per cent on Monday, with the US investment bank predicting a deeper contraction in the second quarter over “high-pressure...
...bank remains wary of the speculative assets....
...JPMorgan chases growth While fintechs like Klarna are tightening their belts, JPMorgan told investors last week that it expects to lose up to $1bn over the next few years on its new digital consumer bank...
...“We do chase the very high-profile individuals, the Russians, the Chinese,” Watkinson adds. “And sometimes we chase them all over the world.”...
...Underpinned by cloud native technology, Vault is a highly configurable platform that is trusted by the world’s most competitive banks, including JPMorgan Chase, Lloyds Bank, Standard Chartered and SEB....
...Business A huge rise in US government spending will boost the world’s largest economy over at least the next two years, the chief executive of JPMorgan Chase forecast....
...The EU drug regulator will launch an investigation next week into whether clinical trials of Russia’s Sputnik V Covid-19 vaccine contravened ethical and scientific standards....
...Both may be less a disaster-in-waiting and more a sign of the pent-up demand that, in normal life, would make a V-shaped economic recovery likely in the developed world....
...Wearing a white fleece and black-rimmed glasses, Stephens pointed at the Chase building and wailed: “That’s the bank that took my parents’ home.”...
...Or look at the action of banks. This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected....
...There were even larger provisions in the second quarter than in the first three months of the year, as banks tore up forecasts for a V-shaped recovery....
...Their fortunes are not being flattered by central bank liquidity....
...Tony Scherrer, an investor at Smead Capital who holds shares in Bank of America, JPMorgan Chase and Wells Fargo, said he would be watching for “indications on whether authorities want to get more involved...
...The headline, unavoidably, was the immense sum put aside for loans that might go bad because of the Covid-19 shutdown: a thumping $25.4bn in total at Bank of America, Citigroup, JPMorgan Chase, Wells Fargo...
...This was especially true at JPMorgan Chase, where investment bank boss Daniel Pinto said trading revenues in the second quarter could be up as much as 50 per cent compared with a year earlier....
...can be] multiplied [more easily] and can chase asset and good prices....
...In its quarterly results last month, JPMorgan Chase took a whopping $8bn provision for future losses on bad loans, six times higher than in the same period last year and higher than any other quarter in...
...Banks such as Citigroup and JPMorgan Chase are expected to do well thanks to record fees driven by debt sales from crisis-hit companies....
...It also compels investors to chase markets and for all the scepticism over asset prices, the latest survey of fund managers from Bank of America highlights a nascent shift in tone: True, four out of five...
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