on Tuesday that beat the consensus estimates of analysts polled by Bloomberg, reflecting a robust jump in trading revenue that stemmed from the pickup in global financial markets from the depths back in March, when the coronavirus crisis was at its worst.
"Home lending benefited from strong production margins, and combined debit and credit card spend showed positive year-over-year growth in September for the first time since the widespread shutdowns," chief executive Jamie Dimon said in the earnings release. JPMorgan's equity markets division was the most well-performing this quarter, with strong growth across its commodities, credit, and securitized products. Fixed income markets revenue was up 29% to $4.6 billion.
But, since then, thanks in large part to the policies put in place by the Federal Reserve to keep borrowing rates low and the flow of credit going into the real economy, major indices, bonds and commodities have rallied sharply.
Meanwhile jpmorgan is busy laying off employees. In a pandemic. Not a great look.
So happy for you I was worried your astronomical bonuses will cut
Awesome news. Now tell us how this helps the nearly 1 million new Americans filing for unemployment each week and those struggling to pay bills.
With five felonies.