Chillin' out till it needs to be funded
Apart from the JP Morgan results that kick off bank results season on 14th Jan, Bank of America is also expected to announce good results with $.30 EPS after write downs of $3bn to pay Freddie and Fannie. Goldman Sachs will continue to lead the global pack in 2011, Executive bonuses will be replaced by higher base salaries. Not much will happen for them in the field of banking in China despite the new redenominations and underwriting business opened for the big four and the great strides India and China will make in 2011.
Bank reforms in India are still expected to exclude global players from increasing their role in the increasingly expected to be no. 1 Retail Lifestyle economy in the worldand Latam and Spain might still offer some exotic spice to grow the global banking market.