The Globe and Mail reports in its Wednesday edition that on Tuesday, JPMorgan reported surprisingly insipid earnings results, by its own standards at least. A New York Times dispatch to The Globe reports that JPMorgan earned $15.3-billion (U.S.) in profit, falling short of analysts' expectations that it would exceed $16-billion (U.S.). That's a meaningful shortfall, given how tightly banks massage the public narratives around their finances. Recent weeks have brought challenges to the banking sector. The Federal Reserve's interest rate hike caused bond prices to drop, resulting in a surprising decline in JPMorgan's debt trading revenue and investment losses for Wells Fargo. Some banks, however, have done well. Goldman Sachs reported a 29-per-cent profit increase and a 23-per-cent rise in revenue, exceeding analysts' expectations, thanks to fees from SpaceX's IPO and strong stock trading. Similarly, Citi benefited from robust equities trading in the third quarter. Wall Street's mixed quarterly results followed one of the industry's most profitable stretches ever, as the banks rode a roaring stock market and a recent borrowing binge to finance the aggressive expansion of artificial intelligence infrastructure.