The Q1 Earnings Season Kicks off Positively

The market isn’t particularly impressed with what it saw in the quarterly releases from JPMorgan (JPM) , Citigroup (C) , and even Wells Fargo (WFC) . Part of the issue appears to be underwhelming guidance, particularly from JPMorgan, that most analysts saw as overly conservative.We see the Q1 results from these three major banks as good enough; not great, but definitely not bad either. There were no major surprises from either of the three banks. In our view, the likely explanation for the market’s tentativ ...