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.
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.
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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.
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(END) Dow Jones Newswires
September 12, 2017 14:56 ET (18:56 GMT)