Free Trial

Interesting Macro Snippets From Today's Earnings:

EQUITIES

JPMorgan:

  • High corporate cash balances are keeping loan demand subdued
  • Released $3bln in credit reserves in vote of confidence for economic outlook
  • $24.2bln of consumer loan portfolio, or 2.9%, in payment deferral, down from $29.3bln in prior quarter

Wells Fargo:

  • Deferred payments & fees for 3.6mln consumer and SME clients- Both commercial & consumer loan portfolios saw declines in losses and net charge-off
  • Credit card revenues up 2% on lower customer payment deferrals and seasonally higher spending
  • Uncertainty in 2021 forecasts due to: soft industry loan demand, credit spreads tightening & elevated mortgage market prepayments

Citigroup:

  • Citi's credit card biz revenue fell 13% due to lower purchase sales and higher payment rates
  • Credit costs fell, reflecting better outlook for global GDP & fewer portfolio downgrades

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.