Techdamentals
Oct 13, 6:26 PM
$PYPL
Payments and lending are different businesses with different exposure to a rate cycle.
Moving money earns a fee on volume. Extending credit earns a spread and carries the risk.
With provisions rising at three large institutions this week, that difference is doing real work in the numbers.
https://techdamentals.com/newsletter/why-jpmorgan-missed-and-goldman-didnt?ref=st
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