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Why US banks are getting "less significant"
As Goldman Sachs, Citigroup and Bank of America prepare to release their results this week, Bill Blain from Mint Partners warns we will get "more of the same, with disappointing earnings and more concerns over regulations."
He thinks that we are actually moving into a "different stage for US banks", which will see them become "less significant" on the stock market.
Bill says that Goldman Sachs will be particularly interesting, because they have pulled out of markets which have proven to be been difficult for the likes of JP Morgan and Citi.
And when it comes to Bank of America, he says many find it "disappointing" that it "hasn't really taken off". Given the stronger markets last year, the bank was expected "to be in a stronger position".
JPMorgan unveiled on Friday an 8 percent drop in
revenues from trading in fixed income markets in the third quarter from a year
earlier.
01:51 minutes
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