Bloomberg Surveillance Bloomberg Surveillance TV: January 15, 2025
Jan 15, 2025
Ken Leon, Director of Equity Research at CFRA Research, analyzes big bank earnings and market trends amidst a positive investor outlook. David Kelly, Chief Global Strategist at JPMorgan Asset Management, shares insights on inflation and the labor market, revealing workers' reluctance to seek raises despite economic growth. They discuss the interplay between productivity and fiscal stimulus, the banking sector's robust performance, and how current policy uncertainties shape the economic landscape.
AI Snips
Chapters
Transcript
Episode notes
JP Morgan Earnings
- JP Morgan's earnings demonstrate its ability to grow into its valuation.
- Net interest income and a risk-on environment for investment banking are key drivers.
Credit Quality Normalization
- Credit quality is normalizing, with lower than expected provisions for credit losses at JP Morgan and Wells Fargo.
- The economy remains resilient, with no major credit risk alerts.
Goldman Sachs' Pivot
- Goldman Sachs is pivoting towards durable recurring fee revenue businesses.
- This includes asset and wealth management, and potentially more principal investments as regulations ease.