Jamie Dimon

JPM's Head Quant Explains Who Unleashed The S&P Rally, And What May Happen Next

What is the fate of this market rally? In terms of technical flows, more inflows would come if 3M and 12M momentum turn positive, which would happen at ~2025 and ~2075, respectively. If volatility stays subdued, volatility-managed strategies could also increase equity exposure. However, equity momentum is also vulnerable to the downside and a move lower could be accelerated by 6M and 1M momentum unraveling at ~1950 and ~1900, respectively.

An Escalating War On Cash Threatens The Stability & Tranquility Of Developed Societies

The size and scope of the political, economic and financial problems that now challenge the relative stability and tranquility of developed societies are unprecedented. Negative interest rates combined with the eradication of cash appear as a desperate attempt to control global private wealth. Should the war on cash prove unsuccessful in its early stages, banks could be closed for long periods.

Global Stocks Soar On Stimulus Hopes After Miserable Chinese, Japanese Data; Short Squeeze

"The Chinese market didn’t react as bad as we feared and with the weak export data there is some big hope that he central banks will react quite fast," John Plassard, senior equity-sales trader at Mirabaud Securities LLP in Geneva, told Bloomberg. "It’s a mix of hope of intervention from the Asian central bank, short squeeze and also a relief in some energy and banking sectors, the most shorted sectors." And there are your catalysts for today's surge: hope of more central bank intervention and a global short squeeze.

Banking On A Bounce? Jamie Dimon Vs The Credit Market

Based on the chart of the KBW Bank Index, Jamie Dimon’s decision to purchase shares of JPMorgan may have been well timed... but the credit markets have a very different perspective on what happens next.

The Institutionalized Looting Of America

The US has been in a cycle of bubbles, busts, and crashes since at least 1995, and more likely since Alan Greenspan became the Chairman of the Federal Reserve in August, 1987. It has become a machine for transferring income, wealth, ownership, and power to the very top. This is not 'the new normal.'  This is financial corruption and the erosion of systemic integrity.

Frontrunning: January 22

  • Stocks, oil soar as Draghi the dove tames global bears (Reuters)
  • Massive snowstorm poised to wallop U.S. East Coast (Reuters)
  • Oil Rises in Biggest Rally Since August Amid Volatility Surge (BBG)
  • Nikkei spikes more than 900 points after rebounds overseas (Japan Times)
  • China's Working-Age Population Sees Biggest-Ever Decline  (WSJ)
  • Oil Is `Trade of the Year' for Citigroup After Iran Export Surge (BBG)
  • U.S. Payment of $1.7 Billion to Iran Raises Questions of Ransom (WSJ)

Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market On Default Contagion Fears

The Dallas Fed met with the banks a week ago and effectively suspended mark-to-market on energy debts and as a result no impairments are being written down. Furthermore, as we reported earlier this week when first nothing the rumor, the Fed indicated "under the table" that banks were to work with the energy companies on delivering without a markdown on worry that a backstop, or bail-in, was needed after reviewing loan losses would exceed the current tier 1 capital tranches.

JPMorgan Just Did Something It Has Not Done In 6 Years

When skimming through the company's loan loss reserve disclosure, we found that in Q4 JPM did something it hasn't done in 6 years: for the first time in 22 quarters, or since March 2010, JPM actually increased its loan loss provisions by $89 million, instead of reducing these.

JPM Earnings Rebound On Big Drop In Compensation Expense; Dimon Notes "Some Stress In Energy"

There were four things we mostly cared about in today's JPM earnings release, the first Wall Street bank to report Q4 results:i) how did the company's fixed income and equity trading revenue do; ii)what is the bank's credit exposure to energy/oil;iii) did the recent Fed hike do anything to boost the company's Net Interest Margin (this has been the primary catalyst for bank share upside), and iv) did JPM halt its practice of releasing reserves and start building reserves - a major inflection point when it comes to management expectations for future credit quality deterioration.