JPMorgan scores all-time-high annual profit in 2019 as bonds trading rebounds



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JPMorgan scores all-time-high annual profit in 2019 as bonds trading rebounds

On Tuesday, the 14th of January 2020, JPMorgan Chase & Co., the New York City lender, had reported its all-time high annual profit as a strident rebound in bond trading over the past three months of last year amid growing angsts about a Sino-US trade dispute presumably had paid off, suggesting an optimistic outlook for a number of large US lenders’ earnings’ report scheduled to be released this week.

On top of that, JPMorgan, the United States’ largest lender, had reported a rise in revenue at all of its businesses, but one of its four key businesses, bond trading, had beaten analysts’ expectation and heaved its shares more than 2.2 per cent higher in the pre-market trading, however, despite an affirmative outlook for 2020 signalled by the JPMorgan executives, JPMorgan Chase & Co.

stocks pared earlier gains on late-afternoon trading and ended up the day 1.17 per cent higher to $138.80 per share. Meanwhile, as the world’s sixth-largest lender with a net asset of $2.765 trillion reported a rise of $8.52 billion or $2.57 per share at its net earnings on an annualized basis, the US borrower’s Chief Financial Officer, Jennifer Piepszak said in a post-earnings’ conference call with the reporters earlier on Tuesday (January 14th), “Our outlook heading into 2020 is constructive, underpinned by the strength of the U.S.

consumer. In spite expected slower global growth and the backdrop of geopolitical uncertainties, we remain well-positioned. ”