Make sure to check out Interactive Brokers above as idle cash now will yield more than 4.5% as the Fed just raised rates.
Key Investing Resource: Strategist Larry uses Interactive Brokers as his core brokerage. Feel free to check out IB. I currently park excess cash at Interactive Brokers. Check it out. It’s a great brokerage.
In our emails, we will provide the following coverage points:
JPMorgan reached a historic milestone recording the highest annual profit ever for a bank. In Q4 of 2023, the bank's net income reached $9.3 billion, contributing to an annual total of $49.6 billion.
This figure represents a 32% increase from 2022 and surpasses the previous record of $48.3 billion set in 2021.
The combined earnings of the six largest U.S. banks did not surpass $100 billion until 2018 and JPMorgan alone nearly achieved half of this milestone in 2023.
Macro Chart In Focus
Analyst Team Note:
China is experiencing a prolonged period of deflation, with consumer prices falling for the third consecutive month, marking the longest streak of declines since 2009. This comes along with a drop in exports, which fell 4.6% last year for the first time since 2016.
The People's Bank of China is expected to respond by cutting policy loan rates and injecting more cash into the financial system, as concerns grow about falling corporate revenues, increasing debt burdens, and delayed consumer purchases.
“The Biggest Picture: geopolitics inflationary… transit volumes through Red Sea/Suez Canal down 35-45% past 4 weeks; Red Sea 12% world trade, 30% container traffic)… global freight rates up 120% past 6 weeks” - Bank of America
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