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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: BOE Ramsden Could Back Faster Rate Cuts
BRIEF: EU Debt Plans Over-Optimistic On Growth-ECON Testimony
JPM, WFC and Citi Results Later: Credit Quality The Key Question
US bank reporting starts later today, we see three key themes
- IB trading lines: consensus has FICC down in the low-teens, against a strong 1Q23 and equities down less than this. Primary business has staged something of a recovery but distribution likely uneven. FICC outlook in dynamic rate environment likely to be question point.
- Fed rate outlook: this has clearly moved (similar to ECB) to push rate cuts further out in time which gives the large banks room to upgrade net interest income (NII) guidance. Three months ago, most were guiding for a muted outlook.
- Credit quality: to us, the key question this results season. CRE is in focus, especially post-NYCB events, but private credit is an area regulators and central bankers are trying to gain visibility on and we could see more information on this from the US majors.
Timetable:
1200 JPMorgan & Well Fargo results
1300 Citigroup results
1330 JPMorgan analyst call
1600 Citigroup analyst call
15-Apr Goldman Sachs results
16-Apr Bank of America and Morgan Stanley results
To read the full story
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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.