JPMorgan’s Investment Banking Fees Slide 50% In Q3
Today we may have just gotten the first windy blast of said atmospheric phenomenon today when the bank’s President Daniel Pinto said that investment-banking fees may fall as much as 50% in the third quarter as clients stay on the sidelines amid uncertainty around inflation, the Fed’s rate hikes and the potential for a recession.
That said, even slashed in half, JPMorgan will still survive – the bank pulled in $3.3 billion in investment-banking fees in Q3 2021, boosted by record advisory revenue.
It’s not all bad: according to Pinto, the firm also expects markets revenue to increase 5% Y/Y in Q3 as macro businesses boost fixed-income trading results while equity markets trend down against a record (retail driven) Q3 of $2.6 billion a year ago.
Of course, in a worst case scenario, JPM will just paralyze the repo market again and get another multi-trillion bailout.
Wed, 09/14/2022 – 06:55