Despite the difficult economic environment that has persisted over the last 18 months, JP Morgan has managed to exceed Wall Street’s estimates each of the last five quarters.
JP Morgan appears to be one of the few firms on Wall Street that has recognized the severity of the current economic crisis and is continuing to perform despite those challenges.
We expect fourth quarter performance will be particularly tough. Increasing economic pressures caused spreads to widen as the credit markets almost completely froze up.
