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Two Ways: JPMorgan Seeks Its Independence

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Strengthen your portfolio in good times and bad.

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In a sign credit markets may be easing, JPMorgan Chase (JPM) said it plans to sell $3 billion worth of 10-year notes to investors without the backing of the US government for the first time since last August.

According to Bloomberg, the second largest US bank by assets is testing the debt markets ahead of the release of the government stress test results to prove its strength and viability.

The bonds are expected to yield 350 basis points above 10-year Treasury notes.

This morning, JPMorgan reported fiscal first-quarter earnings of $0.40 per share, which was $0.08 better than Wall Street expectations. Revenues also came in at $25.03 billion, above $22.95 billion consensus.

For more on the economy, read Jack Lavery's Dissecting the Economic Data.

From the Bull Pen: Bulls can look elsewhere. Buy the dip in Potash (POT)? One can fade (read: buy) this into $85. A sell stop can be set 2% below that level.

From the Bear Cave
: Keep an eye on MasterCard (MA). The stock has underperformed relative to the S&P for the last few days. Although tomorrow may be a dangerous day to be short (expiration Friday as well as the weekend), see how the stock reacts near $165 overhead resistance.

Thirsty Thursday, Minyans. Have a great night!



In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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