Yesterday was officially the first day Bank of America stock has fully recovered from the Global Financial Crisis.
Source: Dividendology @dividendology
BREAKING: U.S. Banks
FED just did it again! Another $24 Billion injection into the U.S. Banking system Make that $125 Billion over the last 5 days Source: zerohedge
This chart shows how bank lending has quietly reshaped the credit world
Since 2015, loans to non depository financial institutions (NDFIs) basically private equity and private credit funds have skyrocketed nearly 300%, while everything else has barely moved. Consumer loans, commercial real estate, residential lending, all flat. The growth is almost entirely in one direction, banks lending to the lenders. Source: StockMarket.news
Banks warning about private credit quality while funding its growth:
Wells Fargo: $60B lent to private credit BofA: $33B PNC: $30B JPM: $22B Total: Nearly $300B Weird to raise alarms about "cockroaches" when you’re the one feeding them... Source: Bloomberg, junkbondinvestor
Love it...
Source: zerohedge
J.P. Morgan Crushed Q3 Earnings Estimates as Wall Street’s Dealmaking and Trading Revenue Explosion Drive Revenue Beat
JPMorgan just beat Q3 2025 earnings with net income jumping 12% to $14.4B ($5.07/sh), vs estimates of $4.85-$4.87 per share Revenue climbed 9% year-over-year to $46.4 billion, topping the $45.3-$45.5 billion Street expected. What Drove This? - Investment Banking: IB fees surged 17% to $2.6B as JPM stays #1 on the IB deal making tables for fees - Trading: Trading revenues were also up 25% this quarter to $8.94B despite Q3 being generally slower in markets - Loans: Net Interest Income (NII) came in at $24.1B, up from previous quarters, management raised guidance for 2025 The bank maintained solid capital ratios with ROE at 17% and ROTCE at approximately 19-21% What Happens from Here? - CEO Jamie Dimon noted the U.S. economy showed resilience during Q3 but cautioned about “significant risks” - These include tariffs, trade uncertainty, geopolitical tensions, fiscal deficits, and elevated asset prices - He mentioned that JPM was prepared for a variety of outcomes $JPM JPMorganChase Q3 FY25. • Net revenue +9% Y/Y to $46.4B ($1.5B beat). • Net Income +12% Y/Y to $14.4B. • EPS: $5.07 ($0.23 beat). • FY25 NII ~$95.8B ($0.3B raise). Source: App Economy Insights @EconomyApp Perplexity Finance @PPLXfinance
In case you missed it...
A Swiss court has ruled that regulators’ decision to wipe out SFr16.5bn (£15.5bn) of Credit Suisse bonds as part of a government-orchestrated rescue was unlawful but stopped short of ruling whether investors should be repaid. The case was brought by about 3,000 investors across 360 cases after Swiss financial regulator Finma ordered the bank’s Additional Tier 1 (AT1) bonds be written off in March 2023, as part of Credit Suisse’s emergency rescue by UBS. The Swiss Federal Administrative Court said that Finma had no clear legal basis for the move. The court found that the regulator’s decree had been invalid but did not rule on whether the bonds should be reinstated or repaid. Source: FT https://lnkd.in/eTfcR2yT
Goldman $GS, Citi $C, and Interactive Brokers $IBKR are all up 40%+ year-do-date.
Source: Bespoke
