J.P. Morgan's Dimon Says Third-Quarter Trading Revenue Likely to Fall

By Emily Glazer Features Dow Jones Newswires

J.P. Morgan Chase & Co. Chief Executive James Dimon said trading revenue is likely to fall around 20% in the third quarter compared with the year earlier period.

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Mr. Dimon, speaking at an investor conference Tuesday, also said the bank is contemplating whether it will continue giving intra-quarter guidance on trading in the future.

Though Mr. Dimon offered some details for the third quarter, he wouldn't say whether the drop is expected to be more or less than 20%.

Mr. Dimon said more broadly he isn't concerned about the lack of volatility in the markets since that is "definitely cyclical," which prompted him to fire off half a dozen market cycles over the last four decades. "You will have volatile markets again," he added. "People will panic, you will panic -- running through the door like everybody else -- regulators will panic."

Last quarter, J.P. Morgan's trading revenue was hampered by that lack of volatility and customer activity, falling 14% from the year-earlier period to $4.8 billion. That was dragged down by a 19% decline in fixed-income trading versus the year-earlier period.

Write to Emily Glazer at emily.glazer@wsj.com

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(END) Dow Jones Newswires

September 12, 2017 14:56 ET (18:56 GMT)