A monster trading quarter saved the day at JPMorgan and Citigroup. But the second half of 2020 looks grim.
Tuesday, 14 July 2020 ()
· In the first wave of bank earnings, Wall Street traders proved the difference makers.· Banks took massive hits as consumer banking faltered and they built up cushions against bad loans.
· But JPMorgan Chase and Citigroup still beat expectations and turned profits, thanks in large part to stellar trading performances. At...