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Earnings Season: JPMorgan shows US banks bouncing back

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JPMorgan Chase has beaten analysts' expectations in its quarterly earnings results as it reported profits of USD 5.91 billion. Analysts had expected to see USD 1.40 per share but instead were greeted with USD 1.45.

Saxo's Peter Garnry says part of the reason has been a rebound in trading around equities and fixed-income as well as steady loan demand. 

Garnry says the revenue growth is a good sign for other US banks and financial institutions. He says he is positive on US banks in general.