JPMorgan Just Posted the Best Year for Any U.S. Bank in History
- Fixed-income trading surge was $1 billion more than expected
- Dimon says more clarity on trade issues helped market activity
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JPMorgan Chase & Co. just posted the best year for any U.S. bank in history.
Fueled by a rebound in trading, especially in fixed income, the company said profit jumped 21% in the fourth quarter, pushing annual earnings to a record $36.4 billion. The announcement led off this week’s round of industry profit reports on a high note, though analysts are predicting results for 2020 will come back down to earth.