JPMorgan’s Markets Business Is Booming After Record Quarter

JPMorgan Chase & Co. has seen balances within its prime-brokerage business soar to a record as clients look to seize on volatility in recent weeks.

The bank’s clients are generally bullish and have unwound some hedges they put on in the early weeks of the Iran war as they shift their focus to US corporate earnings, said Claudia Jury and Scott Hamilton, global co-heads of sales and research.