SOURCE: Wall Street Equity Research

Wall Street Equity Research

December 01, 2010 07:55 ET

Analyst Study on Citigroup Inc. and JPMorgan Chase & Co. -- US Banks Remain Relatively Unaffected by European Crisis

JOHANNESBURG, SOUTH AFRICA--(Marketwire - December 1, 2010) - www.wallstreetequityresearch.com brings investors market knowledge on the aspects moving the money center banks stocks, and offers complete analytical research on companies like Citigroup Inc. (NYSE: C) and JPMorgan Chase & Co. (NYSE: JPM). Register with www.wallstreetequityresearch.com today to gain full access to our complimentary research on these money center banks stocks.

There is some anxiety amongst US investors that the European debt crisis has yet to cause significant problems for US banks. In fact, credit spreads for most major US banks tightened this week. On average, US banks' credit spreads tightened by 2% - 4%. Some analysts are concerned that the risk aversion trends seen in Europe may eventually trickle over to this side of the Atlantic. At the moment though, major US banks have not been significantly affected.

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The current concerns amongst US banks are domestic ones. At the beginning of November, the Federal Reserve pledged to buy $600 billion in Treasury securities. The move was aimed at improving, or at the very least, stabilizing Treasury securities but inexplicably sent prices falling. The price drops caused a flurry of activity amongst investors away from Treasury securities and towards other bonds. The activity was concerning to US banks which have made major strides towards stabilization. Visit us at http://www.wallstreetequityresearch.com/ to understand the catalysts and forces driving or affecting companies in the money center banks industry.

The one upside to the current rounds of financial anxiety has been a rising consumer preference for savings accounts. Deposits amongst US banks rose recently as consumers seem to prefer a safer place to store their money as well as quicker access to it. Overall, US banks have remained relatively unaffected by the European debt crisis but anxiety still looms. 

Looking at results for the third quarter 2010, Citigroup Inc. posted a third consecutive positive quarterly result back in October with earnings of $2.2 billion as compared to $101 million in the same quarter in 2009. Citigroup had been one of the worst battered players within this industry throughout the recession and results from its comparable previous quarter still showed the negative impact loan losses had the company's financials then. However, recent results are sign of the time as loan defaults continue to subside. Investors can register today at http://wallstreetequityresearch.com/December012010CitigroupInc.(C)011210.php to download the full report on Citigroup Inc.

Conversely, JPMorgan Chase & Co. also a jump in earnings for this quarter. The bank posted a 23% jump in profit to $4.4 billion. JPMorgan Chase & Co. Investors can access free research on JPMorgan Chase & Co. now by signing up at http://wallstreetequityresearch.com/December012010JPMorganChase&Co.(JPM)011210.php.

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