Earnings Season Begins as Big Banks See Windfall from Crisis

Earnings season is off to a good start as megabanks JP Morgan, Wells Fargo, and Citi have all reported better than expected earnings that showed a windfall from the deposit flight earlier this year. As depositors ran on small and regional banks in the spring, that money was driven into the arms of the big banks that were viewed as "Too Bigger to Fail" than their smaller counterparts. This has resulted in earnings growth that was partially offset by loan loss provisions and warning about macro-headwinds across the economy.

Support the Channel on Patreon: https://www.patreon.com/NobodySpecialFinance
Join My Discord for More Discussion, Q&A, and News: https://discord.gg/njvf3DPPrF

Affiliate Links:

Use this link to get $10 in free Bitcoin with Swan: https://www.swanbitcoin.com/NobodySpecial/

Save $50 Crypto Tax Preparation with Pro Bitcoin Solutions: https://probitcoinsolutions.com/NSF

Recommended reading (Amazon Affiliate links):
Rich Dad Poor Dad by Robert Kiyosaki: https://amzn.to/3rJvA7Y
Atomic Habits by James Clear: https://amzn.to/423Odoy
Why We Need The Fed (blank gag book) by Joe Brown: https://amzn.to/403amBS

Follow me on Twitter: https://twitter.com/JG_Nuke
Follow me on Gettr: https://gettr.com/user/nobody_special_
Follow me on Gab: https://gab.com/NobodySpecialFinance

#earnings #bankrun #bankearnings