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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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March 3, 2009 7:51 AM ET
(Reuters) — J.P. Morgan Chase generated $5 billion in profit during the worst year in Wall Street history by trading over-the-counter fixed-income derivatives, Bloomberg said, citing two people with knowledge of the results. The bank, which reported $5.6 billion of total profit in 2008, has not disclosed earnings for its interest-rate swap, municipal bond and foreign exchange derivatives group, the agency said. The unit was among the most profitable at the New York-based company, it added. The J.P. Morgan trading desk may have benefited as the collapse of Lehman Brothers and J.P. Morgan’s takeover of Bear Stearns left companies and hedge funds with fewer trading partners in the private derivatives markets, the agency said. Among commercial lenders, J.P. Morgan dominates OTC derivatives trading, the agency said, citing data compiled by the Office of the Comptroller of the Currency. The bank held $87.7 trillion worth of outstanding OTC contracts as of September 30, more than the next two banks, Bank of America and Citigroup, combined, the agency reported. J.P. Morgan could not be immediately reached by Reuters for comment.
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CRAIN'S BENEFITS OUTLOOK 2009
SPECIAL REPORT
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MORE ANALYSIS
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