Watch the Trading Volumes

We are less than halfway into the June quarter, but late last week, JPMorgan (JPM) put a shot across the bow of many trading firms when it shared expectations for its markets revenue to be down roughly 20% on a year-over-year basis. The firm blamed a continued challenging environment in its markets business, something management commented on when it reported its March quarter results in early April.

What caught my attention was the reference to "lower client activity levels." In order to warn this early in the quarter, it would seem the volume drop in April would have to have been significant. One has to wonder if it's a pervasive drop, if JPMorgan has lost share, or a combination of the two....425 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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