Free Trial

US Bank Reporting: BoA And MS Lead Today's Key Events

FINANCIALS

So far, 1Q24 results have contained few major surprises – we have two IBs left to report (BoA and MS today) then a range of the smaller regional banks which should give further insight into the US CRE market, a key driver for some European issuers, such as PBB and Aareal.


  • The major investment banks (IB) have reported mixed IB revenues with secondary lines very muted but with a wide dispersion (GS best, Citi and JPM weaker). Primary is making a DCM-led comeback with will still weak M&A advisory numbers. This plays more to the strengths of Deutsche, Barclays and BNP, as against Morgan Stanley, for example.
  • Overall revenue and credit performances have been broadly in line so far (M&T Bank did show some credit deterioration, unhelpful for PBB, Aareal).
  • Timetable of events for today (all times are London, ** seen as potential market movers):
    • 1130 BNY Mellon results
    • 1145 ** Bank of America, PNC Financial results
    • 1230 ** Morgan Stanley results
    • 1330 ** BoA conf call
    • 1400 Northern Trust conf call (results are simply “pre-market”)
    • 1430 ** MS conf call
    • 1500 PNC conf call
    • 1600 BNY Mellon conf call

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.