(Bloomberg) — JPMorgan Chase & Co., in its third quarter under the shadow of the pandemic, showed that the surge in trading is holding up — and so are borrowers.The biggest U.S. bank posted a surprise increase in earnings, fueled by a 30% jump in markets revenue as elevated volume kept its stock and bond traders busy. The lender also defied expectations by cutting its reserve for credit losses by $569 million, after adding $20 billion to the allowance in the first half, as charge-offs of bad loans declined from a year earlier.Those improvements and a 9% gain in investment-banking …read more
Source:: Yahoo Finance
