J.P. Morgan Chase, the world’s biggest investment bank by revenue, said that trading revenue in the second quarter is likely to be about unchanged from a year ago amid charges related to taxes and accounting rule changes.
J.P. Morgan shares fell 1.7 percent on Tuesday amid a broad selloff for bank stocks.
Pinto cited “good performance” in rates, commodities and corporate credit business. “Equities overall we are doing fine,” he added.
The charges include a $100 million quarterly related to a tax-oriented investment business within the fixed income division, Pinto said.
The bank produced about $4.9 billion in trading revenue in the second quarter of 2017.
source : www.cnbc.com