Weekly Report – October 13, 2021

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10.13

Highlight of the Week

JPMorgan Exceeds Profit Expectations

-JPMorgan posted 3Q results that exceeded expectations largely due to a $1.5 billion boost from better-than-expected loan losses.

-Revenue of $30.4 billion exceeded their $29.8 billion estimate. Dimon reiterated the gains are not fundamental to their business, but from releasing loss funds set aside for coronavirus.

Rate Curves

10.13

Rapid Report:

Abelian Brand Mark

IMF Takes on Crypto Assets and ‘Green’ Finance

-The IMF raised that hackers, anonymity, and dearth of global standards are risks to the financial integrity of crypto assets in a recent update. They also added that ‘stablecoins’ linked to the U.S. dollar could spur people to flee their local currencies in emerging markets.

-They also raised concerns about ‘greenwashing’ in the financial sector – where company’s products are falsely imaged to be environmentally favorable.

Regional Banking Firms Announce Merger

-The parent companies of Columbia Bank and Umpqua Bank announced plans to merge on Tuesday. The Holding company will be headquartered in Tacoma.

-The combined operation will have more than $50 billion in assets as the wave of consolidation in banking continues.

Braves Clinch National League Division Series

-The Braves defeated the Brewers 3-1 in the series to clinch the NLDS.

-Atlanta will play the winner of the Los Angeles Dodgers vs. the San Francisco Giants for the National League Championship Series.

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