The views expressed on this podcast are those of the participants, not of Rogers News.

It doesn't get much better than this.

Wall Street's second quarter earnings confirmed that animal spirits among corporate chiefs and global investors are running high,

while pandemic-shy consumers are getting their mojo back.

Stay tuned as John Foley walks us through J.P. Morgan, Goldman Sachs, Bank of America, Wells Fargo, and City results.

Welcome to the viewers. I'm Rob Cox, the editor of Breaking Views, potential commentary arm of Reuters coming to you from Zurich, Switzerland this week. Well, Wall Street is back and with quite a bang. This week saw

second quarter earnings released from J.P. Morgan, Goldman Sachs, Citigroup, Bank of America,

Wells Fargo, and Morgan Stanley. While they were hard pressed to beat the extraordinary first quarter,

which saw a massive bump in all their trading businesses, it's really hard to imagine more optimal

conditions for the money industry than today's.

To hear bank bosses like Jamie Diamond and David Solomon tell it, the party will go on for quite a while yet.

Corporate clients and private equity firms, many of whom had to spend a good part of the past year internally focused during the pandemic, are now raring to go.

And they have healthy balance sheets and

plenty of unspent firepower to deploy. American consumers are getting their mojo back too.

Many households set aside more of their income are those checks they received from the

government during the pandemic than ever before. And as a result, banks like JPMorgan and B of A

are snatching back money that they'd set aside in previous quarters in anticipation of rising consumer defaults, which aren't coming.

Their hope now is that companies and investors keep up their frenetic activities while those consumers go out and spend it, if possible, borrow, to keep the good times rolling.

John Foley, our man on Wall Street

breaks things down. Take a listen. John, all the Wall Street banks have been reporting their

second quarter numbers this week. Let's try to get the big picture. What does it tell us about

the business of banking in America and globally?

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