JPMorgan Chase & Co corporate and investment bank chief Daniel Pinto said that second-quarter markets revenue looks like it will be flat compared with a year earlier.
Speaking on Tuesday at an investor conference, Pinto said that the drag of several one-off items is reducing the benefit of “mid-single digit” percentage improvements in core trading business, such as in rates, credit, and equities.
The odd items include tax law consequences on a spread business and the effect of some accounting rules on some investments, Pinto said.
Pinto spoke at the start of a work week that is loaded with presentations by Wall Street executives.