While many of the nation’s largest banks saw their profits plunge during the second quarter, trading revenues have surged, enabling banks to maintain strong capital positions and better position themselves to weather the coronavirus pandemic.Andrew Burton/Getty ImagesInvestors have piled into the stock market amid unprecedented volatility this year resulting in a major boost to trading revenues at the nation’s major banks.
“That will allow them to protect future earnings along with capital markets issuance—and that business has been booming,” says Lapey. Today’s markets, by comparison, have remained “very liquid” thanks to massive support from the Federal Reserve, which means high yield and debt issuance that is good for banks, says Lapey. Banks are “much better positioned than last time around,” he agrees.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What Recession? Trading Revenues Surge At Goldman Sachs, Morgan Stanley, JPMorgan Thanks To A Massive Market RallyBanks with a focus on trading are seeing better results than those with traditional lending offerings. Satan's bookkeepers at the FED making sure Wall Street recovers while main street struggles. They work for the rich and we need to end the FED. People can’t pay their rent but yea sure no recession. Nice to know these miscreants and hoodlums are still skimming off other people's hard work.
Source: Forbes - 🏆 394. / 53 Read more »
Goldman Sachs is set to report second-quarter earnings — here's what the Street expectsExpectations for Goldman are running high after JPMorgan Chase and Citigroup posted strong trading and advisory results that helped the banks beat profit estimates for the second quarter. 9 Wall Street Execs Who Cashed In on the Crisis. Meet the moguls who made out like bandits. (NO JAIL TIME) BIG FAT BONUSES.!! 2008.!! TAX CUTS TO THE RICH DON'T WORK!! … WHEN YOU DON'T PUT THESE SOB'S IN JAIL YOU GET MORE OF THE SAME.!!
Source: CNBC - 🏆 12. / 72 Read more »