Friday, 15 January, 2021
JP MORGAN (JPM) #’s due at midday – what to watch:
JP MORGAN (JPM) #’s due at midday – what to watch:
CORE ESTIMATES:
– headline 4Q eps est 2.62 on rev $28.6bn.
– NII est $13.2bn
– NIM est 1.84%
– Invt Bank fees est $2.14bn
– Equity est $1.86bn
– FICC est $4.11bn
– Credit Provisions $1.31bn
– NPLs $12.69bn
trading and cap mkts divisions expected to see continued strength and market is looking for last years loan loss provisions to continue to come back – although some caution could continue given the reopening stall and infections continue to climb (essentially will be an indication of JPM’s view on the vaccine roll out). Any market share gains, buyback return, economic outlook focus for the conf call…. And as always will be laying path way for the rest of the sector (Citi and Wells Fargo @ 1pm)
2% implied volatility according to Bberg.
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