At 4:30 PM today, the Fed will announce stress test results.
What’s interesting is that they were supposed to come out on Thursday at 4:30 PM.
Why the change of schedule?
Well, basically, JPMorgan came out with its announcement of dividends and buybacks around 3:00 PM.
In that announcement they said they had passed the stress tests from the Fed, and that forced the Fed to move up their schedule.
We’re still trying to get the bottom of it, but basically Jamie Dimon just called the shots, and the Fed was forced to play catchup.
The Fed is not commenting, officially, on why they’re moving up the release.
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