JPMorgan Jumps After Blowing Away Expectations, Raises Guidance Thanks To First Republic Collapse

Q2 earnings season officially started just before 7am ET when JPM reported earnings which, as expected, trounced expectations primarily on the back of generous contributions from the First Republican FDIC/taxpayer bailout-cum-gift, which has helped push the bank’s net interest income that much closer to a mindblowing $100 billion.

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