JP Morgan Chase & Co have missed profit expectations for the fourth quarter following a slump in bond trading revenue, record revenues and overpowered strong consumer loan growth.
According to Barclays equity analyst Jason Goldberg, It was the first time JPMorgan Chase, the largest U.S. bank by assets, has underperformed earnings-per-share expectations in 16 quarters.
However, Goldman Sachs and Morgan Stanley which will report earnings later this week, are likely to experience the same effects in their large fixed-income trading businesses.
