MM120: J.P. Morgan, Citi, Wells Fargo & BlackRock earnings explained!
Market Maker
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The Differences Between a Normal Business Cycle and a Recession
The banks have made an additional $949 million increase in the allowance for credit losses, primarily in the commercial real estate space. So, they're obviously kind of factoring this in. And there, I mean, I guess going back to the crisis in 2008, 2009, there was a decent interest rate hiking cycle going into that crisis. This feels very, it's almost like in slow motion this one.
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