PETER TCHIR: There's Actually A 'Bright Side' For JP Morgan In This $2 Billion Fiasco

Everyone’s still buzzing about the aftereffects of the JP Morgan’s $2 billion blunder that was announced yesterday. Markets, so far, have been negative, and the banks’ stock is down over 8% in pre-market trading. JP Morgan’s reputation is also taking a battering in every form of media possible.

But Peter Tchir of TF Market Advisors points out something that could be a plus for the bank

In case you needed reminding, JP Morgan announced in March after it passed its Fed stress tests that it would continue with a $15 billion share buyback plan, of which there was $6 billion left to do. Seems like today might be a good day to go full force on that.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.