Second-quarter revenue at JPMorgan Chase & Co. fell 28% from a yr earlier even because the nation’s largest financial institution mentioned it’s seeing few indicators {that a} recession is imminent, underscoring the uncertainty looming over markets and the economic system.
The New York firm mentioned customers continued spending regardless of rising inflation, companies continued borrowing and mortgage losses remained virtually nonexistent. However executives mentioned there stays extra uncertainty than regular, dragging down massive company exercise similar to mergers and acquisitions and main the financial institution to put aside extra funds for potential future loan losses.
