May 30, 12:37 AM

U.S. Banking Sector Profits Surge 79.5% to $64.2 Billion in Q1; Unrealized Losses on Securities Hit $517 Billion

Profits for the U.S. banking sector surged by 79.5% to $64.2 billion in the first quarter of 2024, driven mainly by large banks not bearing billions in special costs. However, unrealized losses on securities in the banking system increased to $517 billion in Q1, with a notable rise in losses after a brief rate-cut relief.

Written with ChatGPT (GPT-3).

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Wall Street Mav@WallStreetMav
2 years ago
Status of Banks’ Unrealized Losses in Q1: Worsened after Brief Rate-Cut-Mania Relief. In Q1 2024, “unrealized losses” on securities held by commercial banks increased by $39 billion (or by 8.1%) from Q4, to a cumulative loss of $517 billion. These unrealized losses amount to… https://t.co/a0bRTRnRwm
Quinten | 048.eth@QuintenFrancois
2 years ago
Unrealized losses in the U.S. Banking System reaches $517 billion in Q1 Buy #Bitcoin https://t.co/Wf0PkAsSJH
Gregory Daco@GregDaco
2 years ago
🇺🇸Corporate #profits -$21bn in Q1 (vs +$134 Q4) ⬆️Domestic financial +$74bn ⬇️Domestic non-financial -$114bn ⬆️Rest of world +$19bn 🚨Profit margins eased a tad to 12% of GDP but remain historically comfortable despite elevated costs / wages / interest rates & softening demand https://t.co/e7GCH2p5ei

U.S. Banking Sector Profits Surge 79.5% to $64.2 Billion in Q1; Unrealized Losses on Securities Hit $517 Billion

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