JPMorgan: fee income is now carrying the quarter

Fee lines grew through a period when spread income did not, which is what a diversified franchise is supposed to do and rarely does.

Elena Petrova@elena_petrova

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Discussion · 3

Marco BianchiJUN 4

Reading this against my own model. The distinction between adequate reserves and the earnings path is well made. Has anything in the last print changed the entry you would take?

Omri ShakedJUN 3

Thanks for showing the workings. The elasticity decay across the price actions is the tell. Does the same logic apply to the closest comparable?

Ines FerreiraJUN 3

I came in sceptical. The point about conversion rather than demand is the right one. What does the bear actually have to be right about?

JPMLong

Open

Entry$257.45

NowPending

90d horizon

PositionNo position

Compensation

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This is research, not financial advice. Calls lock at publish and are graded by the market; they can be and often are wrong. Do your own research and consider your own circumstances before acting.