Markets are firmly fixed on what Goldman has to say about its second quarter results at 8:30 am. For those wanting a quick link to conference call info that starts at 11am, they can find it here. Meredith Whitney’s buy recommendation Monday has certainly built in expectations for a bumper quarter.
Here’s a summer quiz: Identify the following two US banks:
1. This institution has been profitable throughout the credit crisis. Last year, it reported net income of $6bn on revenues of $60bn, despite taking big hits in its consumer operations in North and South America in the fourth quarter. At the end of the first quarter the bank had total assets of $958 billion, supported by a healthy deposit base of $660 billion.
Treasurys are up after a stellar auction of $19 billion reopened 10-year notes, stocks are floundering as investors worry about the economy and earnings season. More and more it feels like the pessimists have decisively turned the tide.