On October 13, JPMorgan Chase reported an adjusted revenue of $50.91 billion for the third quarter, falling short of market expectations of $51.37 billion. The bank's earnings per share for the third quarter were $5.57.
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JPMorgan Chase Reports Q3 Adjusted Revenue of $50.91 Billion, Below Market Expectations of $51.37 Billion
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Jump Trading Acquires Founders of Ito Markets to Establish Computing Power Trading Division
On October 13, Bloomberg reported that market maker Jump Trading has hired the founding team of a computing power trading startup as the artificial intelligence boom drives the development of related markets. According to a post by Ito Markets on platform X, Jump Trading has brought on board Affaan Mustafa and Alejandro Soumah Fernandez, the founders of Ito Markets Inc., through an 'acquihire' strategy. Ito Markets is a proprietary trading startup focused on buying and selling rights to computing power, and the two founders have joined Jump Trading to lead the newly established computing power trading division. The financial terms of the deal have not been disclosed. -
Korean Central Bank Governor: Further Appreciation of Won Beneficial for Economy, Will Maintain Restrictive Policy
On October 13, Bank of Korea Governor Rhee Chang-yong stated that further appreciation of the won would be beneficial, noting that since the central bank shifted to tightening monetary policy, the significant appreciation of the won has enhanced household purchasing power. During a dialogue with Krishna, Director of the IMF Asia and Pacific Department, at the IMF and World Bank annual meetings in Bangkok on Tuesday, he mentioned that the Bank of Korea will maintain a restrictive monetary policy stance until it is confident that inflation can return to target levels in a timely manner. Rhee also indicated that the strengthening of the won shifts economic growth momentum more towards the domestic economy, helping to alleviate the development gap he referred to as the 'K-shaped economy.' Currently, inflation, exchange rates, and financial stability factors all point in the same policy direction, making the policy trade-offs faced by the Bank of Korea easier than usual. -
Goldman Sachs Reports Q3 Net Revenue of $18.68 Billion, EPS of $17.01
Goldman Sachs reported a net revenue of $18.68 billion for the third quarter, with earnings per share of $17.01. The investment banking segment generated revenue of $3.23 billion, exceeding the estimate of $2.86 billion. Net interest income for the third quarter was $3.77 billion, surpassing the forecast of $3.61 billion. Revenue from equity sales and trading reached $6.44 billion, compared to the estimate of $5.09 billion. Additionally, FICC sales and trading revenue was $3.47 billion, slightly below the estimate of $3.72 billion. -
JPMorgan Chase Rises in Pre-Market Trading
On October 13, JPMorgan Chase (JPM.US) saw a sharp increase in pre-market trading, currently up 1.75%, after previously dropping over 3%. -
30-Year U.S. Treasury Yield Falls for Four Consecutive Days
On October 13, the yield on the 30-year U.S. Treasury bond fell by 6 basis points during the day, currently standing at 5.536%, marking a decline for four consecutive days. The yield on the 10-year U.S. Treasury bond also dropped by 6 basis points during the day, currently at 5.176%. -
Binance Sees Inflow of 2,151 BTC in 24 Hours
On October 13, Binance exchange experienced significant capital movement. In the past 24 hours, the exchange's wallet saw an inflow of 2,151 BTC, valued at $215 million, bringing its current BTC wallet balance to 659,300 BTC. -
Wintermute Perspective: Bitcoin Loses Support from Capital Inflows, Cautious Outlook on Altcoins
On October 13, Wintermute stated that the Federal Reserve's minutes show that most officials expect another rate hike within the year, with a roughly 20% probability of a rate increase by the end of October. The yield on 10-year U.S. Treasury bonds rose to 5.24%. The S&P 500 rose 1.2% last week to reach a new high, but the crypto market remains weak: U.S. stocks are supported by earnings expectations, while crypto relies more on incremental capital. After a reversal in capital flows, its six-week counter-trend rally is difficult to sustain. Bitcoin fell last week from $86,000 to $87,000, dropping to around $80,400 on Thursday before rebounding above $83,000. The U.S. spot Bitcoin ETF saw a net outflow of approximately $679 million last week, the largest single-week outflow since late June, while the Ethereum ETF experienced a net outflow of about $542 million. Wintermute noted that only when long-term yields stabilize and spot ETF funds see a return to net inflows will the outlook improve. Currently, the downside risk for Bitcoin is high, making it unwise to chase low-quality altcoins; if the yield on 30-year U.S. Treasuries breaks 5.64% or Bitcoin continues to struggle around $82,500, a cautious stance will be adopted. -
JPMorgan Projects Adjusted Expenditures of Approximately $108.6 Billion for 2026
On October 13, JPMorgan announced that it expects net interest income for the third quarter to be approximately $28 billion. The adjusted expenditures for the fourth quarter are projected to be around $27.5 billion. For the full year of 2026, adjusted expenditures are expected to be approximately $108.6 billion. -
Federal Reserve's Goolsbee: Artificial Intelligence is an Inflation Issue
On October 13, Federal Reserve's Goolsbee stated that artificial intelligence is an inflation issue. -
German Think Tank IFO: Limited Access to AI Training Data Could Cost Germany €155 Billion Annually
On October 13, the German think tank IFO stated that if access to artificial intelligence training data becomes further restricted, Germany could lose an additional value of €155 billion (approximately $173.43 billion) each year. IFO's research indicates that by 2034, generative artificial intelligence could contribute €440 billion annually to the German economy, but if access to training data is limited, this increase would be reduced by €155 billion. IFO expert Oliver Falck emphasized that anyone aiming to develop leading AI models in Europe should not impose unnecessary restrictions on obtaining training data, as 'you cannot have both.' (Jinshi)
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