Surveillance: Hike Probability with Dutta
Bloomberg Surveillance
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The Earning Cycle in the Big Banks
The overhead count has gone down by about 5%. I believe based on the latest assessment, how much more does it have to fall? JP Morgan kept telling us. Charge of rates are going up. It'll probably end the year at 2.6% on their credit card portfolio. This is a normalization, not deterioration. This is normalization post the pandemic. So if you zoom out, the economy is not as bad, or at least the trajectory does not appear to be as bad as three or four months ago. If that holds up, the consumer stays okay, main street remains okay. Wall street opens up with the return of capital markets.
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