US banks post equal parts pessimism and preparedness this earnings season


Source: qz.com qz.com

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Caution’s the word for Wall Street this earnings season. As major US banks get ready to post their third quarter results starting tomorrow (Oct. 14), their good run won’t dictate their future dealings as much as their view of whether the economy is heading towards a recession. Advertisement JPMorgan Chase chief Jamie Dimon already kicked off this week outlining a series of concerns, including S&P 500 sliding another 20%, an economic recession hitting in six to nine months, and a lack of liquidity in many markets. Preparing for problem loans A major clue about banks’ outlook is in their preparedness...