JPMorgan Chase & Co's Chief Financial Officer, Jeremy Barnum, anticipated on Tuesday a 5% to 10% decline in trading revenue for the first quarter compared to the same period last year. The forecast comes after a notably strong quarter in the previous year, with the US's largest lender reporting a total market revenue of $8.4 billion.
At a conference in Miami, Barnum attributed the expected decrease to performances in both equities and macro sectors, which were relatively strong last year but are not showing significant differentiation across asset classes this year. Despite this anticipated dip in trading revenue, JPMorgan has a positive outlook for other areas of its business.
Barnum also highlighted a potentially weaker IPO market than previously expected for the upcoming quarter.
