BREAKINGVIEWS — Wall Street’s doomsayer is discordantly optimistic
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By Stephen Gandel NEW YORK, Oct 13 (Reuters Breakingviews) — JPMorgan boss Jamie Dimon is as vexed as ever about inflation and rising rates. Yet his bankers see little stress for average Americans. Additions to retail loan loss allowances fell 90%; Wells Fargo followed suit. The sunniness is odd as buffers for stumbling corporations rise. Full view will be published shortly. Follow Stephen Gandel on LinkedIn and X. Context News Three of the four largest US consumer banks — JPMorgan, Citigroup and Wells Fargo — reported their earnings for the third quarter on October 13. Net income rose the most at Citigroup, which was up 16% from a year ago, excluding a one-time charge in the year-ago quarter. The bottom lines of JPMorgan and Wells Fargo rose 6% each. (Editing by Jonathan Guilford; Production by Maya Nandhini) ((For previous columns by the author, Reuters customers can click on GANDEL/ mailto:stephen.gandel@thomsonreuters.com)
(The author is a Reuters Breakingviews columnist. ) By Stephen Gandel NEW YORK, Oct 13 (Reuters Breakingviews) — JPMorgan boss Jamie Dimon is as vexed as ever about inflation and rising rates. Yet his bankers see little stress for average Americans. Additions to retail loan loss allowances fell 90%; Wells Fargo followed suit.
The sunniness is odd as buffers for stumbling corporations rise. Full view will be published shortly. Follow Stephen Gandel on LinkedIn and X. Context News Three of the four largest US consumer banks — JPMorgan, Citigroup and Wells Fargo — reported their earnings for the third quarter on October 13.
Net income rose the most at Citigroup, which was up 16% from a year ago, excluding a one-time charge in the year-ago quarter. The bottom lines of JPMorgan and Wells Fargo rose 6% each. com)