EPS of $0.82 vs. $0.51 consensus. Main contribution came from fixed income revenues; half of the net income coming from investment banking; retail services & credit card divisions suffering. Earnings presentation.

Solid performance; excellent capital ratios.

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hina’s export decline slowed to 15.2% YoY in September from 23.4% in August and 21% consensus. Positive surprise, but still far away from +25% pre-crisis levels. As usual equities and commodities are trading higher on the news; U.S. dolar lower.

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