Rebecca Ungarino’s Post

Wall Street banks are set to see a boost in Q2 earnings thanks to a revival in dealmaking. Investment banking revenues at major banks like JPMorgan, Goldman Sachs, and Morgan Stanley could rise by over 30% from last year. Read more on the Financial Times: https://lnkd.in/gkjNT5uR

It's earnings season for banks, and we're diving deep into the numbers 🧐 📈 J.P. Morgan's investment banking fees shot up by a whopping 52% from last year. But can you believe Citigroup managed to surpass that growth? --- Don’t miss out on the market updates! ✅ Subscribe to the Daily Peel - https://lnkd.in/gv8wR_tJ Join our Discord channel here - https://lnkd.in/ghW_22_x #TheDailyPeel #financenews #marketupdates

It's earnings season for banks, and we're diving deep into the numbers 🧐 📈 J.P. Morgan's investment banking fees shot up by a whopping 52% from last year. But can you believe Citigroup managed to surpass that growth? --- Don’t miss out on the market updates! ✅ Subscribe to the Daily Peel - https://lnkd.in/g9BWdNG2 Join our Discord channel here - https://lnkd.in/gKKhu4Gr #TheDailyPeel #financenews #marketupdates

🚨 Bank Earnings Recap! 🚨 Here’s the latest on some of the biggest banks: 💰 JP Morgan: Crushing expectations with $4.37 per share on sales of $42.6 billion! Equities trading is up 27%, and investment banking fees surged 31%. 🏦 Bank of America: Solid performance at $0.81 per share on $25.49 billion in sales, despite a 12% drop in profits. 🔥 Wells Fargo: Beat earnings but missed on revenue. Net interest income fell 11% to $11.69 billion. 🎧 Goldman Sachs: Absolutely destroyed estimates with $8.40 per share! Equities trading soared 80%, but fixed income dipped 12%. 📉 Citigroup: Earnings of $1.51 per share on $23.2 billion in revenue, with investment banking fees jumping 31%! ---- 🎯 Don't miss out on the latest market updates! Subscribe to the Daily Peel newsletter now—https://lnkd.in/g9BWdNG2 #thedailypeel #marketupdates #financenews

🚨 Bank Earnings Recap! 🚨 Here’s the latest on some of the biggest banks: 💰 JP Morgan: Crushing expectations with $4.37 per share on sales of $42.6 billion! Equities trading is up 27%, and investment banking fees surged 31%. 🏦 Bank of America: Solid performance at $0.81 per share on $25.49 billion in sales, despite a 12% drop in profits. 🔥 Wells Fargo: Beat earnings but missed on revenue. Net interest income fell 11% to $11.69 billion. 🎧 Goldman Sachs: Absolutely destroyed estimates with $8.40 per share! Equities trading soared 80%, but fixed income dipped 12%. 📉 Citigroup: Earnings of $1.51 per share on $23.2 billion in revenue, with investment banking fees jumping 31%! ---- 🎯 Don't miss out on the latest market updates! Subscribe to the Daily Peel newsletter now—https://lnkd.in/gv8wR_tJ #thedailypeel #marketupdates #financenews

Goldman Sachs reported a banner quarter on Tuesday, with profit jumping 45% over a year earlier to nearly $3 billion. The bank also beat expectations on revenue, as did rivals Bank of America and Citigroup. All three got a notable boost from their investment banking divisions; Goldman's investment banking revenue surged 20%. That's largely in line with what rivals JPMorgan Chase and Wells Fargo reported last week. What's not yet entirely clear, however, is how the banks will be affected by the Fed's rate cut, which arrived days before the end of the quarter.

In Q3, major banks like JPMorgan, Wells Fargo, Bank of America, Goldman Sachs, Citigroup, and Morgan Stanley reported better-than-expected earnings, driven mainly by investment banking and trading. Citigroup's investment banking income rose 44%, and Morgan Stanley exceeded forecasts with $1.88 per share earnings. Net interest income varied, with JPMorgan gaining while Wells Fargo and Citigroup saw declines. Deal activity increased as borrowing became cheaper. Morgan Stanley’s wealth management performed well, boosting revenue. Despite rising costs and credit provisions, most banks saw revenue growth. Wells Fargo’s CEO was optimistic about consumer spending, while JPMorgan’s Jamie Dimon warned of global risks, including Middle East conflicts and Russia’s war in Ukraine, although he did acknowledge signs of a soft landing. 66% of retail CFD accounts lose money. Your capital is at risk. #Tradu #InvestmentBanking #ConsumerSpending

Goldman Sachs reported a banner quarter on Tuesday, with profit jumping 45% over a year earlier to nearly $3 billion. The bank also beat expectations on revenue, as did rivals Bank of America and Citigroup. All three got a notable boost from their investment banking divisions; Goldman's investment banking revenue surged 20%. That's largely in line with what rivals JPMorgan Chase and Wells Fargo reported last week. What's not yet entirely clear, however, is how the banks will be affected by the Fed's rate cut, which arrived days before the end of the quarter.

Fascinating to see this in hindsight and pretty indicative of the notion that even the best and brightest don't have a solid grasp on interest rate trajectory. Eddie Donmez posted this over 6 months ago as a commentary on the wild spread... "JUST IN: Wall Street Investment Bank Strategists On When The U.S. Federal Reserve Will First Cut Interest Rates - Major Theme For 2024 🤯 Interest rate cuts are coming but the big questions are: (1) When does the first cut come and (2) By how much do they cut in 2024? Here is what the top strategists across the street think: Goldman Sachs: First Rate Cut = March, Cuts in 2024 = 125 BPS J.P. Morgan: June, 125 BPS Morgan Stanley: June, 100 BPS Bank of America: March, 100 BPS UBS: March, 275 BPS Barclays: June, 75 BPS Citi: July, 100 BPS Deutsche Bank: June, 175 BPS Evercore ISI: June, 125 BPS HSBC: June, 75 BPS Jefferies: March, 225 BPS MUFG: March, 175 BPS Nomura: June, 100 BPS Oxford Economics: July, 50 BPS TD Securities: May, 200 BPS Wells Fargo: June, 225 BPS

If regional and community banks fail to adapt to the economic climate, the number of zombie banks will double in the US this year. A new study by BCG (via the Financial Times) has found that almost a third of US banks are suffering from low valuations. And, because of that, they have the dreaded title of ‘zombie’ attached to their names. Of course, this doesn’t come as a surprise. The dangerous cocktail of economic uncertainty has been hard to swallow for the banking community. Plus, the springtime regional bank crisis – referencing the collapse of SVB, Signature Bank and First Republic Bank – hasn’t done any favors for investor confidence. But, as a recession looks probable, regional and community banks may fall into even hotter water. And that’s why they need to adapt quickly. M&A, as I’ve said for a while now, should be the go-to. After all, mergers would allow banks to free up the capital and resources to stabilize their balance sheets. But this should not be the end goal. Mergers are the short-term solution, but – to guarantee safety for the long-term – these banks need to rethink their entire business models. And I believe the ecosystem business model will be their ticket back to profitability. #bankingindustry #bank #economics #mergersandacquisitions