[Financial Results Review] Major Bank of America's financial results are off to a good start, and interest rate income boosts profits
This article uses automatic translation for parts
As an important indicator of the US real economy, the performance of the US banking sector draws widespread attention at the beginning of the fiscal period every year.
![[Financial Results Review] Major Bank of America's financial results are off to a good start, and interest rate income boosts profits](https://sgsnsimg.moomoo.com/feed_image/181250687/d953b63e6145321d95b8e081a61eda20.png/bigmoo)
The US Federal Reserve (Fed) interest rate hike cycle continues to grow profits in the banking sectorThe main driving forceIt has become. From March last year, the US Federal Reserve (Fed) raised the federal base interest rate from almost zero to 5% to 5.25%. The high standard interest rate makes it possible for banks to obtain higher interest income from loans from customers.
$JPMorgan (JPM.US)$with $Wells Fargo & Co (WFC.US)$ The financial results for the second quarter are, respectively67%、57%There was an increase in profit. $Citigroup (C.US)$Revenue from the personal finance and asset management division increased 6% to 6.4 billion dollars due to strong growth in loans.
Also, major Wall Street firms, whose deal-making had been sluggish for over a year, finally began to show signs of recovery in their capital markets business. $Bank of America (BAC.US)$、 $Morgan Stanley (MS.US)$、 $JPMorgan (JPM.US)$、 $Citigroup (C.US)$According to the 2nd quarter financial results announced by the 4 banks of, all stock underwriting incomeExceeding market expectationsAll banks, with the exception of Citi, saw an increase in sales compared to the same period last year. As for bond underwriting income, all banks, with the exception of Citi, also exceeded expectations.
![[Financial Results Review] Major Bank of America's financial results are off to a good start, and interest rate income boosts profits](https://sgsnsimg.moomoo.com/feed_image/181250687/d71d905bd1883d548d49c3996c1e43c7.png/bigmoo)
However, the Wall Street management teamIt has not been clearly stated that they have recovered yet. M&A (mergers and acquisitions) projects remain at a low level, and the total advisory business income of Bankame, Morgan Stanley, JP Morgan, and City fell 24% compared to the same period last year. The previous year, which is the target of comparison, was already at the same level of 16% decrease.
Source: Bloomberg, Moomoo
-Moomoo News Sherry
-Moomoo News Sherry
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181278302 : I wonder if it has anything to do with Wai, a NASDAQ follower? No, how much synergistic effect is there?
TESLA Optimus : It seems that the results are generally good even in regional bank accounts. Keekorp's stock price has risen, and Truist has fallen sharply today. It looks like profit taking sales, which have been the most recent rise, came out today. However, since the US Bank of America hasn't even returned half of what it was before the crash, it's still undervalued. Tonight is SQ, so I think it's turbulent because of a slight loss of position. While high-tech stocks are falling further, it seems that funds are turning to bank stocks.