JPMorgan Joins BofA With Perfect Trading Record in Q1
Bloomberg reported that JPMorgan Chase and Bank of America had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley posted losses in eight sessions and Goldman Sachs in two.
Bloomberg said, according to regulatory filings, one daily gain at JPMorgan exceeded $200 million as the biggest U.S. bank by assets recovered from last year’s London Whale derivatives loss. Bank of America generated more than $25 million of revenue on 97% of trading days, compared with 76% at Morgan Stanley.
To read the Bloomberg story click here.