JPMorgan Chase Leads Bank Earnings Reports Amid Steeper Yield Curve

JPMorgan Chase (NYSE:JPM), along with other major banks like Citigroup, Wells Fargo, and Goldman Sachs, is set to report its third-quarter earnings on October 13, 2026. Bank of America will follow on October 14. Analysts expect JPMorgan to post earnings per share between USD 5.82 and USD 5.90 on revenue ranging from USD 50.6 billion to USD 51.2 billion.

The bank has guided its 2026 net interest income to approximately USD 105.5 billion, with second-quarter net interest income already up 10 percent to USD 25.6 billion. The steeper yield curve, particularly with the 10-year Treasury yield near 5.31 percent, a 24-year high, is expected to boost asset yields but also increase pressure on deposit and securities costs.

Investment banking fees and markets revenue saw significant growth in the second quarter, rising 30 percent and 35 percent respectively. However, the sector's performance will hinge on capital markets and credit risks. JPMorgan's CEO Jamie Dimon has warned about inflation, geopolitics, and asset prices, emphasizing the importance of monitoring net interest income guidance and deposit betas.

The overall financial health of the sector will be closely watched, with JPMorgan Chase typically setting the tone for the group. The Financial Select Sector SPDR Fund serves as a proxy for the sector's performance.