Jin Lee | Bloomberg | Getty Visuals
Marianne Lake, main economic officer of JPMorgan Chase & Co.
The buying and selling atmosphere is decidedly considerably less thrilling than it was in the course of last year’s put up-election rally, as JPMorgan Chase’s chief economical officer points out.
Revenue from product sales and buying and selling at the bank is functioning 15 % reduced so significantly in the fourth quarter in contrast to this stage in the similar period of time final yr, Marianne Lake instructed an viewers at the Goldman Sachs economical companies meeting on Tuesday.
“The volatility continues to be really minimal across the spectrum,” she explained in reaction to a concern about the investing company. It “has not been that enjoyable.” Marketplaces profits in JPMorgan’s investment lender for the whole fourth quarter of 2016 was $5.7 billion.
The reverse development is accurate of expense banking, she famous, the place action ranges have been higher, “up significant solitary-digits.”
JPMorgan Chase is mulling how to assist buyers who want to trade bitcoin futures, which is anything currently being rolled out in the coming weeks at CBOE, CME and, eventually, Nasdaq. The premier U.S. bank’s CEO, Jamie Dimon, has publicly derided bitcoin as a “fraud” but Lake’s general public responses have been much more calculated.
The firm, she reported before this 12 months, is “open up-minded” to the prospective makes use of of the electronic currency.