What's the Good News for Bank Stock Investors?

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This week the head of JP Morgan Chase, Jamie Diamond warned that the US could be in a recession somewhere between six and nine months from now. The International Monetary Fund and the World Bank both offered up really gloomy outlooks. Big US bank stocks are down more than 20% on the year.

Volodymyr Zelenskyy called on G7 countries to speed up supplies of air defence systems after another day of Russian missile attacks, and the biggest US banks will signal worries about the economy in third-quarter earnings reports and analysts expect them to set aside more than $4bn to cover potential losses from bad loans.

Mentioned in this podcast:

US banks to set aside $4bn for potential losses from bad loans

Bank of England warns of ‘fire sale’ risk as it widens government bond purchases

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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