Blog Archives

Asia Wednesday 9 am: Rupee weakness predates another correction of the US Dollar

JP Morgan is of course sitting pretty on the best outcome of yesterday’s vote with a 68% vote agreeing with Jamie Dimon’s exemplary record and granting him no interruptions from institutional shareholders Blackrock apparently did not vote for the resolution.

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Posted in Financial Markets

Bank Results Season: JP Morgan posts $5 B in profits after CIO massacre

The bank opened the morning proceedings with a restatement of the first quarter results posting a $660M loss to add to the Q1 in Principal Transactions to bring the EPS to $1.20 for the quarter with Net Income from Corporate

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Posted in Amitonomics, Banking, US

US Morning Report: US markets down for fifth day in a row, the Deal Valley and JP Morgan hopes intact

In European trading first, Germany was a tad up even as the resurgent British and French bond markets could not keep equities up. While France has joined the elite 3 in the Eurozone again as safety zones, we are riooting

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Posted in Amitonomics, Banking, Private Equity, Social Media, US

We are sorry we were wrong about JP Morgan | Banking insight

JP Morgan has finally done it. It seems the bank has fessed up to the CIO office strategy responsible for only 5% of the earnings of the company to wipe out its possible earnings for the quarter. The bank reported

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Posted in Amitonomics, Bailout Nation, Banking, European Sovereign Debt crisis, US

US Economy: The more things change..(European inflation data)

Though Italian one year BOT on auction landed a cut off yield closer to 4% than the last 2.3% yield, the inflation thru the Eurozone more or less remained unchanged with a 1.9% for Germany and 3.2% for Italy overshadowing

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Posted in Amitonomics, housing, Retail Lifestyle, Social Media, US

Dimon’s testimony..Prepared remarks | Banking insight

Jamie Dimon’s prepared remarks released tonight show the common problems of a TBTF bank in the new Basel regime. That means that the bank increased its risk exposures based on the Basel 3 regime, especially after the CIO office in

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Posted in Amitonomics, Banking, European Sovereign Debt crisis, US

JP Morgan suspends share buybacks | Banking Insight

As we mentioned in our analysis the day after the Whale broke out, the bank did not continue its share buybacks of $12-$15 B promised in the new Capital plan as it maintains yet that it would ‘like’ to pay

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Posted in Amitonomics, Banking, US

US Economy: Euro nosedive gives Strength to US dollar, JP Morgan investors reaffirm faith.

Commodities continued their run down from last year’s “bubble” tops with silver and Copper losing a mile after the Chinese data. Things are complicated for europe even as Spanish banks have recovered most of the required EUR 30 bln internally

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Posted in Amitonomics, Banking, US

Whale Trader burns JP Morgan goodwill | Banking Insight

Though JP Morgan would degrade earnings for Q2 by a minimum of $800 mln from yesterday’s announcement, the damage could be more severe for the bank’s decision to hold on to unrealised gains in the CIO portfolio of securities of

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Posted in Amitonomics, Banking, European Sovereign Debt crisis, US

The Thursday Fed Update: That rate keeps trending down, Budget Surplus and a Dimon induced spiral – US Economy (Thursday EoD Review)

Someone must be happy we are paying only 3% interest on 30 Y US debt but it is all getting too close to call a bad year for 2013 or a year yonder. JP Morgan will survive its losses as its

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Posted in Amitonomics, Banking, European Sovereign Debt crisis, US