J P Morgan Chase & Co (JPM)
JPMorgan to pay $920M for manipulating bond, metals markets
JPMorgan Chase admitted Tuesday to manipulating the markets for precious metals and U.S. Treasuries, agreeing to pay $920 million in fines and penalties for the illegal behavior
"Crash-Up Risk": What If The Election Is Not The "Doomsday Event" The VIX Expects It To Be
"Crash-Up Risk": What If The Election Is Not The "Doomsday Event" The VIX Expects It To Be Tyler Durden Tue, 09/29/2020 - 13:02 While JPMorgan could not agree last week if the month-end pension and fund flows (which according to one JPM quant at $200bn would be the largest forced selling since March, and according to another would be a "tailwind" for equities) would be positive or negative for stocks, one look at market gamma suggests that contrary to expectations for a violent month-end in either direction, we may get just the opposite. As Nomura's Charlie McElligott writes this morning, when looking at where the VIX curve stands right now… ... this steepness of implied vol in the front-end for the U.S. election event-risk as shown in the chart below, coupled with the now consensus belief "doomsday" permutations which could see a the final election result dragged out into year end or even 2021, "has created a dynamic which keeps realized vol "stuck" in no man’s land, because Dealers are then likely being incentivized (from both pnl- and risk-mgmt- perspectives) to be “long vol, long gamma." Indeed, as McElligott shows, dealers are currently in "long Gamma" territory - but just barely - for both SPX SPY after the rally back up to current spot (“Gamma Neutral” level at 3310, ex 10/02 at 3298) and QQQ (“Gamma Neutral” level at 273.37, ex 10/02 at 276.14) According to the Nomura strategist, this modest gamma positioning will "keep things in-check" from a realized vol perspective as we approach the election where a worst-case scenario is currently being priced in by the market (unless of course there were a macro catalyst for the curve to flatten- or invert-).
Work won't return to normal until after 2021, a Bank of America survey finds
Summary List Placement Work won't return to normal for most companies until after 2021. But financial firms may be slower to bring employees back than other industries. A new survey of more than 200 companies from Bank of America found that only 30% of employees at financial firms will return to normal work settings by the end of 2020, compared with 45% in other industries. By the end of 2021, the survey found only 67% of financial firm employees will return to normal work, compared with 75% for all other sectors. Big banks have been predicting a slow return to the office for a while. Many of the largest firms have hundreds of thousands of employees that need to get back to work, S&P Global reported . JPMorgan, for example, has more than 200,000 employees working remotely right now. Bringing this many employees back to work safely has created a massive challenge during the coronavirus pandemic. Offices, with their tight cubicles and communal spaces and cafeterias, must be redesigned to be more socially distant.
JPMorgan Chase Announces Resolutions of Certain Legal Matters
NEW YORK--(BUSINESS WIRE)--JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) announced today that the Firm has entered into agreements to resolve certain legal matters. Information can be found on the Firm’s Investor Relations website at jpmorganchase.com/press-releases. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for cons
JPMorgan Chase to pay $920 million to resolve US investigations into trading practices
JPMorgan Chase is set to pay $920 million to resolve probes from three U.S. government agencies over its role in the alleged manipulation of metal and Treasurys markets.The figure was released Tuesday by the Commodity Futures Trading Commission in a statement from commissioner Dan Berkovitz. Last week, news reports indicated that the New York-based bank was nearing a settlement of almost $1 billion.
Marqeta Announces Industry-First Tokenization-as-a-Service Product, Allowing Any Card Issuer to Instantly Provision Cards Into a Mobile Wallet
OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta, the global modern card issuing platform, today unveiled its new Tokenization-as-a-Service product, which allows any card issuer to access its industry leading tokenization technology. Marqeta’s Tokenization-as-a-Service, already being adopted by J.P. Morgan, is an industry-first offering allowing non-Marqeta card programs to benefit from its modern platform, tokenization expertise, and built-in certifications with digital wallets and the card networks,
GOLDMAN SACHS: Buy these 16 stocks best positioned to take advantage of unprecedented Fed money printing and potentially higher inflation in the years ahead
Summary List Placement It's not surprising that inflationary fears are creeping back to the forefront of investor attention. After years of relatively subdued price increases, the tranquility that investors have come to know and love may soon be on its way out. "A ballooning federal budget deficit, increased operating costs due to COVID, easy monetary policy, and the prospect of additional fiscal spending are among the reasons many of our clients believe that inflation will continue to climb," said David Kostin, Goldman Sachs chief US equity strategist, in a recent client note. "Many investors are concerned about the potential headwind to equity prices from rising inflation." These market participants aren't alone in their worries. Many of the world's largest investment titans — Morgan Stanley , BlackRock , JPMorgan , and UBS — have expressed anxiety over unexpected increases in inflationary pressures. What's more, legendary investor Stanley Druckenmiller recently told CNBC "We actually have the chairman of the Federal Reserve with a $3 trillion deficit out lobbying Congress to do more spending and guaranteeing those of us on Wall Street that he'll underwrite it," adding, "I think it's dangerous.
$4.3 billion Marqeta is targeting a wider range of customers for its digital cards with a new 'tokenization-as-a-service' push
Summary List Placement Contactless payments have taken off amid the coronavirus pandemic, with consumers seeking out touch-free ways to pay. One of the world's most valuable fintechs is targeting that trend, looking to help companies distribute digital cards even if they aren't current customers. Marqeta, the card-issuing startup last valued at $4.3 billion, announced Tuesday it is now offering its digital card issuance tech to anyone. Described as "tokenization-as-a-service," any company that wants to be able to issue digital cards can use Marqeta's platform to do so, even if they're not already using the startup to issue or process their physical cards. Tokenization is a critical security element in digital payments. Sensitive information like card numbers are swapped out for other identifiers, or, tokenized. "Prior to this, we've worked primarily with customers where we were issuing the card and processing the cards as well," Kevin Doerr, chief product officer at Marqeta, told Business Insider. "Now we've enabled customers who don't have that relationship with us to still take advantage of the functionality and services that our API layer presents." Read more: PayPal's CFO explains why the payment giant is going against the grain and betting big on QR codes as the new way to pay in-store Historically, consumers have manually set up their cards on digital wallets after receiving a physical card.
Bank of America (BAC): is it worth buying now?
What's driving BAC stock price? What's BAC stock price forecast?
J P Morgan Chase (JPM) stock: should you buy the dip?
What's driving JPM stock price? What's JPM stock price forecast?
Bank of America (BAC) earnings preview: expect revenue decline
Bank of America Corporation (BAC) is expected to report earnings on July 16 before market open. What are the BAC earnings expectations? What news will the market be watching out for?
Wells Fargo & Co (WFC) earnings preview: revenue decline to be seen
Wells Fargo & Co (WFC) is expected to report earnings on July 13 before market open. What are the WFC earnings expectations? What news will the market be watching out for?
JPMorgan Chase (JPM) earnings preview: will it beat the Street?
JPMorgan Chase & Co. (JPM) is expected to report earnings on July 13 before market open. What are the JPM earnings expectations? What news will the market be watching out for?
Citigroup (C): Will The Stock Rebound?
Citigroup's stock (NYSE: C) price saw a 7.34% decline this year. The bank's valuation is fairly low. What is the stock price forecast now?
JPMorgan Chase (JPM): What Does The Future Look Like?
JPMorgan Chase’s (NASDAQ: JPM) stock price barely increased in today’s trading. What is the JPM stock price forecast?
5 Key Things You Should Understand About The Banking Sector
If you're pondering investments in the banking sector, there are some key themes for 2018 you should understand that may shape your thinking about investing in large banks such as JP Morgan Chase, Citi, Wells Fargo, Bank of America...
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