JPMorgan: Balks On Q1 Revenue Outlook As Execs Claims Market Is Too Treacherous

March 8, 2022

The head of markets for JPMorgan Chase & Co (JPM.N) said on Tuesday that markets are too treacherous to update the firm's first-quarter outlook for trading revenue.

"The markets are extremely treacherous at the moment," Troy Rohrbaugh explained at an investor conference. "There is a lot of uncertainty. There are a lot of clients that are under extreme stress. That creates potentially very significant counterparty risk exposure."

Turbulence stemming from the Russia-Ukraine war and related sanctions from western nations has spread across commodities especially but also through fixed income and equity markets, he said.

"It is broad-based, but clearly relating to sanctions, whether it be sanctioned counterparties, sanctioned products, unwinds," he said.

JPMorgan had said last month that markets revenue would likely be down about 10% from a year earlier. Rohrbaugh said that the outlook had proven true through this past Friday.

SOURCE: REUTERS
IMAGE SOURCE: PIXABAY

THE METRO BUSINESS

The Education That Matters: MSBM’s Guide to Thinking, Thriving, and Leading

How MSBM’s Executive Courses Prepare You to Out-think and Outperform the Competition

Jailed US Reporter Gershkovich, to Stand Trial in Russia on Espionage Charges

Tesla to raise Model 3 prices in Europe after higher EU tariffs on China EVs

JPMorgan: Balks On Q1 Revenue Outlook As Execs Claims Market Is Too Treacherous

Top Stories

Insider Tips for Excelling in MSBM’s Online Courses

Strategies for Success: MSBM’s Business Management Insights

Nations are vying to join the BRICS group, according to South Africa, as Russia assumes leadership.

Home Secretary vows to reduce net migration.

Related Posts

JPMorgan: Hit With $200 million Fines For Record Keeping Violations

JPMorgan :Jamie Dimon In Hong Kong Says JPMorgan Will Outlive China’s Communist Party

JPMorgan Bets On The Metaverse, Sets Up Shop In The Metajuku Mall Of The Metaverse

Oil Price: JPMorgan Chase Says The Oil Spike Is Just Getting Started.