Summary: US financial enterprises increased the risk of economic deterioration and risks

Xinhua News Agency, New York, July 18: U.S. financial companies increase the risk of economic deterioration

Xinhua News Agency reporter Liu Yan

The latest announcement of the second quarter performance report shows that in order to cope with the slowdown in the economic growth and the decline that may even occur, a number of large US banks start to increase the credit loss reserve and suspend stock repurchase to improve the status of corporate cash flow.

According to data released by JPMorgan Chase a few days ago, the company's operating income and earnings per share in the second quarter were lower than expected. The economic prospects deteriorate. In the previous quarter, Morgan Chase has filed a US $ 1.463 billion credit loss reserve due to high inflation and Ukraine crisis.

JP Morgan Chase CEO Jimi Dimon said that although the US economy continues to grow, factors such as geopolitical tension, high inflation, decline in consumer confidence, and economic policy impact on global liquidity may bring negative effects. Prepare this.

Although Citi Bank's second -quarter operating income and earnings per share are higher than market expectations, it still withdraws 375 million US dollars in credit loss reserve. In the same period last year and the first quarter of this year, US $ 2.402 billion and US $ 138 million were released. gold.

The performance report released by the Wells Fargo, which is concentrated in retail and commercial banks, showed that the company filed a US $ 580 million credit loss reserve in the second quarter. gold.

Due to the increase in interest rates and the weakened financial market, Wells Fargo's risk capital, housing mortgage banks, investment banks and brokerage businesses have significantly declined. In the second quarter, non -interest income decreased significantly by 40%year -on -year to $ 6.83 billion.

The performance report released by Morgan Stanley showed that the company's credit loss reserve in the second quarter increased from $ 57 million in the first quarter to $ 101 million.

Due to the poor performance of the capital market, the operating income of Morgan Stanley in the second quarter of institutional securities, wealth management and investment management all decreased year -on -year. Among them, the stock market downturn has led to a decrease of 55%year -on -year in investment banking.

In addition, in order to meet the requirements of the Fed's pressure testing and increase the scale of cash holdings, Morgan Chase and Citibank have also announced the suspension of stock repurchase.

CFRA, a market research institution, is responsible for the chief investment strategist of the US stock strategy, Sam Stowo, said that if the bank is a barometer of the entire economy, the performance of American companies in the second quarter of this year is not optimistic.

The US two -year Treasury bonds and 10 -year Treasury yields have continuously inverted in the near future. Many researchers believe that the Fed is difficult to achieve a soft economic landing when the Federal Reserve has raised interest rates to anti -inflation.

[Editor in charge: Jiao Peng]

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