JPMorgan’s profit surges on investment banking

NEW YORK • A surge in investment banking pushed up JPMorgan’s second-quarter profit even as results at its consumer business sagged. JPMorgan earned a bonanza in fees from underwriting stock and bond offerings in the first three months of the year as financial markets thrived. The gain offset a slight decline at the bank’s consumer business, which struggled with lower mortgage fees. The bank made $6.1 billion in the second quarter after stripping out payments to preferred shareholders. That was ...

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