NEW YORK (TheStreet) -- While recent run-ups in the stocks might say different, widening spreads on credit default swaps related to Bank of America(BAC) and JPMorgan Chase(JPM) in the past quarter illustrate growth in market apprehension about the health of both banks.
Wider spreads indicate greater investor concern about the possibility of default. Fitch said CDS liquidity picked for both banks as well. While the spreads for both JPMorgan and Bank of America are still representative of very stable outlooks, the trend does show, according to Jonathan Di Giambattista, a managing director at Fitch who authored the report, that the CDS market is making "clear distinctions among names" within the banking sector. Although the percentage move isn't as great, the action in Bank of America seems more worrisome than that affecting JPMorgan from Di Giambattista's standpoint. "Despite recent spread volatility, the market is still pricing JPMorgan in-line with AA-rated credits," said Di Giambattista in a statement. 'In contrast, BofA, is pricing in line with BBB- names while its high liquidity signals widespread uncertainty over future prospects." Both JPMorgan and Bank of America are due to report their first-quarter results this week. JPMorgan is up first on Wednesday, and Wall Street is expecting a profit of 64 cents a share for the March period on revenue of $26.5 billion. Bank of America will follow before Friday's opening bell, and the average analysts' consensus estimate is for earnings of 9 cents a share on revenue of $28 billion. The big banks are expected to show credit costs reached an inflection point in the first quarter, and the stocks in the group have risen impressively ahead of the reports, in part because of this optimism. The KBW Bank Index, which contains twenty of the biggest U.S. banks, is up about 30% year-to-date. Shares of Bank of America and JPMorgan have jumped 24% and 11% respectively so far in 2010. Loading Comments... 1 2 Last » Next ›SHARE:
Featured Photo Galleries Go to Slideshow ArchiveConnect with TheStreet
Dow Jones S&P 500 NASDAQ 10-Year Note 11,018.59 1,196.80 2,464.13 38.26 Oil * 84.78 UP 12.62 UP 0.32 UP 6.26 DOWN 0.20 10 Yr 3.83% SPDR Gold 112.81 +0.11% +0.03% +0.25% -0.52% Data delayed 20 minutes More From TheStreet Latest Headlines Top Rated Stocks from TheStreet Ratings Cramer's Latest Picks from Mad Money if (Math.floor(Math.random() * 100) < 45) { document.write("NEW: Earnings & Economic Calendar"); } else { document.write("ETF Research Center"); } Find returns with the Dividend Calendar if (Math.floor(Math.random() * 100) < 45) { document.write("Top-rated ETFs from TheStreet Ratings"); } else { document.write("Top-rated Mutual Funds from TheStreet Ratings"); } Twitter Facebook RSS Mobile App adsonar_placementId=1341369;adsonar_pid=879768;adsonar_ps=-1;adsonar_zw=320;adsonar_zh=280;adsonar_jv='ads.adsonar.com'; Brokerage Partners YAHOO.util.Event.on(window,"load",function(){ setTimeout(function(){ TSCM.util.attachScript('scr_intellitxt','http://thestreet.us.intellitxt.com/intellitxt/front.asp?ipid=10685'); },1200); }); Sponsored Links var ads = [ { link:"http://www.entrepreneur.com/business-opportunities/index.html?cam=thestreet&cid=Homepagetextlink1109", text:"Be Your Own Boss and Start your Own Business Today!", trk:null }, { link:"http://ad.doubleclick.net/clk;222499704;4639705;q?http://www.dionmm.com/sl/py/sitets2.py?adsrc=201039", text:"Exclusive Report: How to Best Use TIPS to Protect Your Assets", trk:null }, { link:"http://ad.doubleclick.net/clk;222669974;45232431;k", text:"Help2retire Obstacles. Get guidance on the path to retirement from Merrill Lynch.", trk:null }, { link:"http://ad.doubleclick.net/clk;223796514;4639705;q?http://www.niogold.com", text:"NioGold Mining - Own a Share of Canada's Golden Highway.", trk:null }, { link:"http://ad.doubleclick.net/clk;222499786;4639705;a?http://www.dionmm.com/sl/py/sitets2.py?adsrc=201040", text:"Special Report: Will Government Spending Create Huge Inflation?", trk:null }, { link:"http://ad.doubleclick.net/clk;220988988;44415082;v", text:"Step-by-Step Guidance to Your Maximum Refund", trk:'http://ad.doubleclick.net/ad/N5506.1199.0301731801621/B4084309.15;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;223806605;47528270;g?http://www.optionshouse.com/landing/stocks295/?partner=street&utm_source=street&utm_medium=paid-banner-ads&utm_campaign=textlinks&utm_content=bash-s295-text", text:"$2.95 Flat-Rate Stock Trades @ OptionsHouse.com. Save Now.", trk:'http://ad.doubleclick.net/ad/N6067.272508.7329112262621/B4413938.11;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;223806605;47528270;g?http://www.optionshouse.com/landing/stocks295/?partner=street&utm_source=street&utm_medium=paid-banner-ads&utm_campaign=textlinks&utm_content=bash-s295-text", text:"Why Pay More? $2.95 Flat-Rate Stock Trades @ OptionsHouse.", trk:'http://ad.doubleclick.net/ad/N6067.272508.7329112262621/B4413938.11;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;223830723;47553663;i", text:"Zurich HelpPoint Delivered. Better understand your company's risks.", trk:'http://ad.doubleclick.net/ad/N3867.TheStreet/B4417177.8;sz=1x1' }, { link:"http://ad.doubleclick.net/clk;221025362;4639705;a?http://www.gold101.com/request_information/", text:"Learn How to Buy Gold. Let Us Teach You Today!Superior Gold Group Gold101.com", trk:null }, { link:"http://ad.doubleclick.net/clk;222255324;45405692;b?http://www.realtor.com/?source=a28344", text:"4M listings. Comprehensive & current. Search now on Realtor.com", trk:null }, { link:"http://ad.doubleclick.net/clk;222869770;45405692;r?http://www.completetax.com/CTindex.asp?Welcome=PE1341562", text:"Get your maximum refund - fast and FREE - with CompleteTax!", trk:null }, { link:"http://ad.doubleclick.net/clk;223395922;4639705;o?http://www.virtualinvestingclub.com/lp/vic-opt-wiz-87t.php?adid=streetWktxt", text:"37 Year Old Wiz Kid Makes $87 Million Trading Options - Find Out!", trk:null }, { link:"http://ad.doubleclick.net/clk;223804138;45405692;f?http://www.wisdomtree.com/bannerads/dxj/dxjlp.html?utm_source=TheStreet&utm_medium=banner&utm_content=dxjtextST&utm_campaign=dxj", text:"DXJ: The 1st Japan equity ETF to hedge yen exposure", trk:null }, { link:"http://ad.doubleclick.net/click;h=v2|3C38|0|0|%2a|r;220770099;0-0;0;44407284;31-1|1;35979936|35997814|1;;%3fhttps://us.etrade.com/e/t/jumppage/viewjumppage?PageName=power_et_for_active_traders_mvt&SC=CS66WEB&ch_id=D&s_id=STRT&c_id=60DAYBT&o_id=60DAY", text:"Trade Free for 60 Days. E*TRADE Securities.", trk:'http://ad.doubleclick.net/imp;v1;f;220770099;0-0;0;44407284;1|1;35979936|35997814|1;;cs=r%3fhttp://ad.doubleclick.net/dot.gif?' }, { link:"http://ad.doubleclick.net/clk;223713956;47431952;m?http://www.optionsxpress.com/promos/virtualtrade.aspx?cmpid=tlSTRcopyA", text:"Practice No Risk Trading at optionsXpress", trk:null }, { link:"http://clk.atdmt.com/BEL/go/206871628/direct/01/", text:"ShareBuilder - Buy stocks for $4 and get a $50 Account Bonus!", trk:'http://view.atdmt.com/BEL/view/206871628/direct/01/' }, { link:"http://ad.doubleclick.net/clk;220815082;44534915;c?http://www.lvcva.com/campaigns?src=4130", text:"Las Vegas is serious about business. VegasMeansBusiness.com.", trk:'http://ad.doubleclick.net/ad/N5664.272508.7284099241621/B4167122.6;sz=1x1' } ]; function __trackingpixel(url){ var ord = Math.floor(Math.random() * 100000000000); if(typeof url != "undefined") { if(url.indexOf('[timestamp]')!= -1) { url = url.replace("[timestamp]", ord); } return ""; } } var counter=-1; var limit = 3; function __write_textlink() { counter++; if(counter >= limit)return; var index = Math.floor(Math.random() * ads.length * 10 % ads.length); var it = ads.splice(index,1); var o = it[0]; document.write(''); document.write( o.text ); document.write( '' ); if(o.trk != null){ document.write(__trackingpixel(o.trk)); } if(ads.length > 0) { __write_textlink(); } else { } }; __write_textlink(); TheStreet Premium Services All Services Action Alerts PLUS Get free access to Cramer's portfolio picks at Action Alerts PLUS - Try it now Free RealMoney Jim Cramer's RealMoney team of 70+ Wall Street pros will give you wealth-building strategies - Get started Free RealMoney Silver Doug Kass + our 5 Premium Services - all in one place - Get a free 14-day trial today Stocks Under $10 David Peltier is ready to help you find affordable Stocks Under $10 which could lead to a big-money payoff - Get access to his portfolio FREE ETF Action Don Dion's brand new service can help investors at all levels build profitable ETF portfolios - Learn more document.write(unescape("%3Cscript src='" + (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js' %3E%3C/script%3E")); var beaconurl=""; if(TSC.util.isDefined(document)){ beaconurl=document.URL; try{ if (top.location != self.location){ beaconurl=document.referrer; } }catch(e){} } COMSCORE.beacon({ c1:2, c2:"6036014", c3:"", c4:beaconurl, c5:"", c6:"", c15:"" }); var pvar = { cid: "us-thestreet", content: "tsc", server: "secure-us" }; var trac = nol_t(pvar); trac.record().post(); View Directory Jim Cramer Doug Kass Market Movers Breakout Stocks Options Alerts Stock Under $10 RealMoney Don Dion's ETF Action Hot Topics: How to Invest in Gold - Fast Money - Motorola Droid - Cramer's Picks - Apple Tablet | Hot Blogs: Undergraduate Investor - Wall Street Social Resources About Us Advertise Corrections Customer Service Employment Investor Relations Make a Suggestion Privacy Policy Readers' Feedback Sitemap Video Sitemap Subscribe Terms of Use Financial News Archive Topic Archive TheStreet Premium Services Compare All Services Jim Cramer's Action Alerts PLUS: Now any level of investor can trade right alongside a Wall Street pro — and enjoy 24/7 access to his portfolio! Learn More Login NEW! Don Dion's ETF Action: A concise two-step strategy for learning and trading in this increasingly lucrative area of investing. For all levels of investors! Learn More Login RealMoney: Jim Cramer's team of 70+ investment pros offer a daily wealth of fast-breaking market news... analyses... red-hot opportunities...and wealth-building strategies. Learn More Login RealMoney Silver: The genius of Doug Kass + 5 Premium Services = an unrivaled group of expert fundamental analysts, technical analysts, and Wall Street observers. Learn More Login Breakout Stocks: Bryan Ashenberg combines sophisticated screening software with eagle-eye analysis to find small and mid-caps ready to break out! Learn More Login Market Movers Deep in the Money Calls Stocks Under $10 Top Gun Trader TheStreet Ratings Daily Swing Trade Top Stocks ETF Shark Alerts Options Alerts try { function DM_onSegsAvailable(segs, cust_id) { for(var i=0;i Find the Best: Mortgage Rates | CD Rates | Savings Rates | Personal Finance | Retirement | Saving | Budget | Stock Picks document.write('© 1996-2010 TheStreet.com, Inc. All rights reserved.TheStreet.com's enterprise databases running Oracle are professionally monitored and managed by Pythian Remote DBA.
Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions.
TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.
IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.
*Oil Data in Market Overview is Brent Crude Pricing
'); TSCM.ads.AdPlacerx.sz = "728x90"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.calltype = "adj"; TSCM.ads.AdPlacerx.includeDcopt = true; TSCM.ads.AdPlacerx.additionalTargeting = ";;storytype=financial-services;kval=financial-services"; TSCM.ads.AdPlacerx.writeTag(); TSCM.ads.AdPlacerx.sz = "336x280,336x850,300x250,468x648"; TSCM.ads.AdPlacerx.resetTargets(); TSCM.ads.AdPlacerx.calltype = "adj"; TSCM.ads.AdPlacerx.additionalTargeting = ";;storytype=financial-services;kval=financial-services;;storytype=financial-services;kval=financial-services"; TSCM.ads.AdPlacerx.writeTag(); /** * function wrapper that places all DART ads using TSCM.ads.positionToPlaceholder * if positionToPlaceholder can't find the elements specified, it just returns and is ready for the next call */ TSCM.ads.placeLazyLoadingAds = function() { // DART 1 (banner) TSCM.ads.positionToPlaceholder({ ad: 'ad728x90', placeholder: 'bannerContainer', flexibleHeight: false }); //DART 2 TSCM.ads.positionToPlaceholder({ ad: 'customUnit', placeholder: 'cauContainer', flexibleHeight: true }); //DART 3 TSCM.ads.positionToPlaceholder({ ad: 'boxAd', placeholder: 'boxAdContainer', flexibleHeight: true }); //DART 4 TSCM.ads.positionToPlaceholder({ ad: 'secondBoxAd', placeholder: 'secondBoxAdContainer', flexibleHeight: false }); }; TSCM.ads.placeLazyLoadingAds() window.setTimeout(function() { TSCM.ads.placeLazyLoadingAds() }, 2000); window.onresize = function() { setTimeout(function() { TSCM.ads.placeLazyLoadingAds(); }, 1000); }; BF_BB_DATA = null; (function( ){ document.write(''); var sid="76IOF7"; var c=""; var b=""; BF_BB_SCRIPT=document.createElement('script'); BF_BB_SCRIPT.type="text/javascript"; BF_BB_SRC="http://buzzbox.buzzfeed.com/wd/BuzzBox?sid=" + sid + c + b + '&it=1&cb=' + (new Date()).getTime(); setTimeout(function() { document.getElementById('BF_BUZZBOX').appendChild(BF_BB_SCRIPT); BF_BB_SCRIPT.src=BF_BB_SRC; },1); })();After the Bell
Before the Bell
Booyah! Newsletter
ETF Daily
Midday Bell
TSC Top Ten Stories Newsletter
Winners & Losers
TheStreet Mobile Edition
Take Our Tour
Connect with TheStreet
Read Full Article »