Market Currents
So it's come to this: Investment banks are making their earnings by betting against themselves,...
-
Friday, October 14, 2011, 11:57 AM ETSo it's come to this: Investment banks are making their earnings by betting against themselves, as ~25% of JPMorgan Chase's (JPM +0.2%) Q3 profit resulted from debt valuation adjustments. DVA gains of $1B for MS (-1.2%) and $300M for GS (-0.7%) were already forecast; because they faced more severe bond market stress than JPM, they may report even larger DVA figures.
Other date
Latest Articles on Financials
This news story has 1 comment: