NEW YORK: Big swings in stock and bond markets since March have helped big Wall Street banks weather the coronavirus downturn better than they otherwise might have, but their trading-revenue gains are unlikely to last.
"Assume it is going to fall in half," JPMorgan Chase Chief Executive Jamie Dimon said on a conference call."We don't assume we have these unbelievable trading results going forward." Analysts expect similar trends at Goldman Sachs Group Inc , Morgan Stanley and Bank of America when they report results later this week. However, they are not putting much weight behind such a volatile business line - especially as banks are preparing for a wave of pandemic-fueled loan losses.
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