Just like Bill Gross' monthly note earlier, Albert Edwards' latest piece is an exercise in stream of consciousness in two parts. In the first one, Edwards focuses on his, and our, favorite topic - bashing the "hubris" of central bankers, which he believes may be one of the indicators for "forthcoming economic collapse." This is how he puts it:
Bill Gross' latest monthly outlook is divided into two sections: in the first, the world's former bond king provides a revealing glimpse into his mind courtesy of six brainteasers (with answers to questions such as "If forced to choose between killing your favorite pet or an anonymous human being, what would you do?"); in the second he goes back to his favorite topic: slamming the Trump growth narrative Can the Trump Agenda recreate 3% growth?
Authored by Mint Partners' Bill Blain,
“For what shall it profit a man if he gain the whole world and suffer the loss of his soul?”
On several occasions in the past month Jamie Dimon took the opportunity to preview what would be a strong quarter for JPMorgan, and sure enough, he was on the money when moments ago JPM reported Q1 profit of $6.45 billion, or EPS of $1.65, up from an adjusted $1.35 reported a year ago and beating estimates of $1.52; JPM also reported Q1 adjusted revenue of $25.6 billion, also beating the $25.1 billion expected, and rising $1.5 billion higher Y/Y.
It also appears that JPM's cost-cutting push is over, with Q1 compensation expenses $8.20b, above the expected $7.98Bn.
Authored by Chris Hamilton via Econimica blog,