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Q4 looking like another weak trading quarter for big banks

Published 12/05/2017, 03:38 PM
Updated 12/05/2017, 03:38 PM
© Reuters.  Q4 looking like another weak trading quarter for big banks
  • The practice of bank executives fanning out to investor conferences to warn of continued trading weakness is beginning to become a quarterly ritual.
  • Speaking today, Bank of America (BAC -0.3%) CEO Brian Moynihan said trading revenue is likely to fall 15% Y/Y in Q4. Appearing at the same conference, JPMorgan (JPM -1.1%) CFO Marianne Lake said the same thing about her bank.
  • Nonexistent volatility continues to be the biggest culprit.
  • Things are brighter in investment banking, with Moynihan expecting fees to be up in the mid-single digits."
  • Now read: JPMorgan And Citi: 2 Peas In A Pod


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