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Strong earnings from JPMorgan and Citigroup remind investors that rising interest rates have their upsides
America’s banks on Friday provided a timely reminder that the world isn’t ending.
Banks are of course beneficiaries of higher interest rates, the main factor driving the Dow Jones Industrial Average down more than 1300 points the prior two days. But quarterly results from JPMorgan Chase, Citigroup and Wells Fargo also pointed to a strong underlying economy.