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The ECB’s bond-buying program could have masked major risks

“She was talking about the effects of the ECB’s bond buying program as part of a broader warning that investors are no longer seeing risks” writes Wolf Street for businessinsider.com. When credit risk is not being priced at all – when it’s free – this most important gauge of the credit market is worthless.Credit risk wasn’t priced in at all.That’s when investors will begin to discover, as Erdoes put it so elegantly, that they have “a bunch of walking-zombie companies.”.  Source: businessinsider.com Share This:

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JPMorgan Chase invests in artificial intelligence startup Volley

“NEW YORK (Reuters) – JPMorgan Chase & Co has made a strategic investment in Volley.com, a San Francisco-based startup that uses artificial intelligence to help large enterprises automatically generate training content for employees, the companies said on Tuesday” writes Midwest Communications Inc for 95kqds.com. New York-based JPMorgan takes equity stakes in young technology companies that can help the bank enhance customer experience, become more efficient and protect its assets.Volley had initially focused on developing an app for students that used its machine learning engine, but later pivoted to developing technology…

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Wall Street firms mine profit from Trump’s market-rattling trade war

“Both JPMorgan and Citi posted double-digit gains in merger-advisory revenue” writes Matt Rourke Associated for washingtonexaminer.com. “When markets move,” investors often transfer money to capture gains or avoid losses, Chief Financial Officer Paul Donofrio told reporters.Bank of America joined Wall Street rivals whose trading businesses grew in the past three months as investors sought to shield their wealth from the fallout of President Trump’s aggressive tariffs on U.S. allies and competitors.That buoyed profitability in consumer banking, the lender’s largest business, where revenue grew 8.3 percent to $9.2 billion. Source: washingtonexaminer.com Share…

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Wall Street still sees Trump trade war as risk, not economic reality

“It might still be averted if White House policies lead to the economically beneficial international deals Trump has promised” writes Mark Lennihan Associated for washingtonexaminer.com. “The markets have fears of what that rhetoric leads to, but at this point, we’re not seeing it coming through the numbers.”. “So as we sit here today, it’s more of a risk than it is an actual influencer, but it could easily become one.”. The president has largely shrugged off those concerns, however, and he continues to maintain a tough stance toward China.Small business…

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JPMorgan profit surges amid global trading tension, higher rates

“JPMorgan Chase, the largest U.S. lender, posted greater profit than expected in the three months through June as market volatility buoyed trading revenue and borrowers paid higher interest rates for loans” writes Frank Franklin Ii for washingtonexaminer.com. JPMorgan continued to benefit from that reduction in the three months through June, with its effective tax rate falling 7 percentage points to 21 percent. The company’s shares dipped 0.2 percent to $107.06 in New York trading early Friday. Source: washingtonexaminer.com Share This:

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‘Firing on all cylinders’: The CEO of JPMorgan’s giant investment bank lauds performance in memo to staff

“That was the message from Daniel Pinto, chief of JPMorgan’s corporate and investment bank, today in a memo he sent to staff” writes Dakin Campbell for businessinsider.com. Net income rose 18 percent to $8.32 billion on companywide revenue of $27.8 billion.Earnings results for the second quarter, announced on Friday, delivered first-half revenue records for advisory fees and equity trading, as well as year-over-year increases in other units.The bank reaped $4 billion from trading stocks and derivatives, and another $1.2 billion from advising on mergers and acquisitions, through the first six…

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Financial sector pares losses as JPMorgan’s stock turns positive

“The sector fell 0.3%, having previously dropped as much as 1.4%” writes Markets Reporter for marketwatch.com. The financial sector traded significantly off its lows on Friday, paring an earlier drop as JPMorgan Chase & Co. shrugged off an early decline to trade higher in the wake of its better-than-expected results.WFC, -1.85% sank 1.4% as both earnings and revenue failed to match consensus analyst expectations. Source: marketwatch.com Share This:

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Dow trades slightly higher as JPMorgan, Citi, Wells Fargo kick off earnings season

“U.S. stock-index benchmarks on Friday tipped slightly higher as second-quarter earnings unofficially kicked off with some of the nation’s biggest banks, led by JPMorgan Chase & Co” writes Mark Decambre for marketwatch.com. The subdued opening trade comes after JPMorgan Chase & Co. reported second-quarter results that were better than expected, while Citi reported revenue missed analysts estimates for revenue, Wells Fargo & Co. posted results that came in below expectations. Source: marketwatch.com Share This:

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JPMorgan reports 18.3 percent rise in profit

“JP Morgan Chase & Co. corporate headquarters in New York Thomson Reuters (Reuters) – JPMorgan Chase & Co reported an 18.3 percent rise in quarterly profit on Friday, helped by tax gains, a rise in interest rates and higher trading revenue” reports businessinsider.com. The largest U.S. bank by assets said net income rose to $8.32 billion, or $2.29 per share, in the second quarter ended June 30, from $7.03 billion, or $1.82 per share, a year earlier. Citigroup Inc and Wells Fargo & Co , the third- and fourth-largest banks…

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