Alpha Diallo
All posts from Alpha Diallo
Alpha Diallo in Alpha Diallo,

What went wrong at JP Morgan?

 (Image source: JPMorgan Investor relations)

JPMorgan Chase & Co. (NYSE:JPM) reported disappointing first quarter earnings that missed both top and bottom line estimates. Two factors contributed to the disappointing earnings, mortgage origination and fixed income trading losses. For example, mortgage origination was down 68 percent year over year and 27 percent quarter over quarter. Compared to a year earlier, fixed income revenue is down 21 percent to $3.76 billion. With housing prices rising alongside interest rates, the appetite for refinancing is no longer there for homeowners.