‘‘The results of the banks for the second quarter are likely to show that the trends from the beginning of the year intensified in the second quarter. These will probably be growing reserves for possible credit losses and declining consumer spending. On the contrary, the profits from trading will probably help some banks to break through the storm,‘‘ according to Bloomberg.

Source: Tradingview.com

As we can see in the graph, the performance of three biggest American banks: J.P.Morgan (green line), Wells Fargo (purple line) and J.P. Morgan y Change (candles), banks from January 2020 were hardly impacted by a coronavirus. The results of the largest US banks are also starting today in the US earnings season. Goldman Sachs expects the most from utilities and technologies, while the weakness in finances.

Banks have had three full months of the pandemic, which is now going through their numbers. According to analyst Kyle Sanders of Edward Jones, the second quarter was probably the worst for banks and their results since the financial crisis.