• JPMorgan misses 4th-quarter profit estimates as bond trading slumps JPMorgan Chase missed profit estimates for the fourth quarter as a slump in bond trading revenue overpowered strong consumer loan growth and record revenues.• As loans and revenue shrink, Wells Fargo leans on cost cutsWells Fargo’s loan book shrank and revenue fell across all its major businesses last
Bank of America, the No. 2 U.S. bank by assets, reported a better-than-expected first-quarter profit, reversing from a year-earlier loss, as legal costs fell steeply and the bank earned more from mortgage lending. Easy monetary policy and a recovering U.S. economy have been a huge boon for banks. BAC Chart: