The offices of JPMorgan Chase in Frankfurt were raided earlier by Cologne prosecutors as part of their wide-ranging investigation into the Cum-Ex scandal, which cost German taxpayers billions of dollars, Bloomberg reports. The US bank confirmed that officials had visited its offices, noting that it “continues to cooperate with the German authorities as part of […]
Tag: JP Morgan
JPMorgan sees last big Fed rate hike in September
The U.S. Federal Reserve is likely to make its last major rate hike in September, paving the way for stocks to continue their rally in the second half, analysts at JPMorgan Chase said. “We expect another giant Fed hike in September, but after that we see the Fed not surprising markets again, on the hawkish […]
Confiscated Russian yacht to be auctioned to pay off loan to JP Morgan
A luxury yacht formerly owned by sanctioned Russian businessman Dmitry Pubyansky will be sold at auction on Tuesday after the billionaire defaulted on a JPMorgan loan, according to an auctioneer’s website, cited by Bloomberg. It will be the first superyacht to be publicly auctioned since Russia’s invasion of Ukraine prompted authorities to freeze luxury yachts […]
BofA, JP Morgan cut price targets for European markets on recession fears
The rally in European stocks appears to have come full circle, strategists predict, with last month’s gains coinciding with cuts in their year-end price targets by both Bank of America and JPMorgan . The Stoxx Europe 600 index will close 2022 at 447 points, implying gains of less than 2 percent from now, according to […]
JPMorgan and BofA among banks facilitating exit from Russian bonds
A growing number of Wall Street banks are willing to trade Russian bonds that were once considered “untouchable,” according to Bloomberg. JPMorgan and Bank of America are among several banks that have offered to facilitate trades in corporate and government debt on behalf of clients, according to people with knowledge of the matter who spoke […]
JP Morgan: ‘Bull’ for US stocks, ‘Bear’ for Europe – Recession certain in the Eurozone, with or without a report
By Eleftherias Kourtalis JP Morgan sees “opposite lives” for US and European stocks. The US bank sees opportunities in US stocks where it estimates that despite the recent rally and significant de-rating the risk-reward profile is attractive, while predicting that the economy will manage to avoid recession despite weak data of the last two quarters. […]
Deutsche Bank, Citi, Axia and JP Morgan say they are impressed by the results of National Bank and Eurobank
Her Eleftherias Kourtalis The investment houses send a strong message regarding the prospects of Greek banks after the second quarter results announced by Ethniki and Eurobank with Deutsche Bank, Citi, Axia and JP Morgan underlining the significant improvement in their sizes and they say impressed. EGE National Bank posted a strong set of results in […]
JP Morgan: What to expect from the results of Greek banks – Single-digit NPE ratios for all four systemic
Her Eleftherias Kourtalis JP Morgan expects strong results in the second quarter in all sectors for the Greek systemic banks. At the same time, it predicts cautious but confident messages from the administrations, while the target for a single-digit NPE ratio is expected to have been achieved by all four banks. Eurobank and National Bank […]
HSBC, JP Morgan: One-way short positions in the euro – Dive to $0.95 soon, the risks for the eurozone are in the red
Her Eleftherias Kourtalis Short positions in the euro are recommended to investors by HSBC and JP Morgan, assessing which upward movement is an opportunity to build bearish “bets”, given the many and significant challenges facing the eurozone economy, with fears of a recession hitting already the door of the area. EUR/USD will retest recent lows […]
Is the worst over for stocks or not? Morgan Stanley and JPMorgan disagree
The deep uncertainty of the investment environment was underscored by reports from top Wall Street strategists, who were divided on their estimates of the path the stock market will take in the second half of the year, amid uncertainty over the Fed’s stance in the shadow of deterioration of economic data. In particular, while analysts […]