MM108: Elon Musk's 'everything app' & the latest US bank earnings
Market Maker
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The Impact of Market Moves on Assets Under Management
Wells Fargo had a 10% decrease in revenue year over year, primarily driven by the impact of significantly lower markets and dollar appreciation. However, they will be pretty happy about that dollar move if you were looking at it right now. The other one then, I mean, we did have Wells Fargo banking revenues up nearly 40%. They're up 7% for Q4 2022 driven by stronger treasury management.
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